Dentists Who Invest Podcast Dental Practice Valuations: Under The Bonnet with Andy Acton from The Dentology - The Business of Dentistry Podcast DWI-Ep31
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Experience the thrill of exploring the often debated world of practice valuations in the dental industry with our knowledgeable guest, Andrew Acton. We break down the complexities of intangibles like goodwill, reconstituted net profit, and how they contribute to the overall value of a practice. Andy Acton from The Dentology - The Business of Dentistry Podcast shares some insightful perspectives on the importance of a quality database of comparables and the motivations that drive practice owners in their valuation quests.
Venture further into the intricacies of EBITDA calculation and management information to uncover the true income of a practice. We shed light on the non-financial factors that shape practice performance, including location, team dynamics, marketing strategies, and the influence of social media. Andrew underscores the importance of reference points, highlighting the need to compare data with similar practices to get a fair assessment of a target practice's value.
We've got you covered if you've ever wondered about the power of social media as a tool for attracting patients to your dental practice, discussing the potential of emerging platforms, like TikTok. Andrew also enlightens us on the concept of 'attention as currency' and how a good reputation can tip the scales in your favor. We round-off with a deep dive into the role of location in practice valuations, the impact of property tenure on sale price, and the essential tips on optimizing valuation and selling practices. Get ready to unravel the mystery of practice valuations with this insightful discussion.
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