Dentists Who Invest Podcast Buying and Selling a Dental Practice in the COVID Era with Andy Acton from The Dentology - The Business of Dentistry Podcast DWI-Ep5
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Taking a seat with us around the microphone is Andy Acton from The Dentology - The Business of Dentistry Podcast, a dental practice brokering virtuoso, who spins a captivating tale of his journey with Frank Taylor and Associates. With his co-director, Chris Shevins, they transformed a modest enterprise into a thriving business that delivers an array of beneficial services to clients. They will share the secrets of their strategic roadmap that led to their success, offering invaluable lessons to any budding entrepreneur.
The episode takes an analytical gaze at the current landscape of the dental practice market, which has been significantly reshaped by the COVID-19 pandemic. We address the surge in interest for acquiring practices and the transition from NHS to private practices that has been noticeable. In addition, Andrew provides expert insight into the financial challenges faced by many dentists, and the practical yet effective solutions that can address these issues.
Lastly, we delve into the ramifications of COVID-19 on practice valuations and the shift towards rural practices. Andrew provides indispensable advice on how to accurately value a practice, the role of location and the concept of goodwill. The conversation wraps up with a reflection on the implications of the pandemic on corporate acquisitions, and a look at the importance of understanding the motivations behind selling a practice. This discussion provides a comprehensive guide for anyone looking to navigate the often tumultuous waters of the dental practice market. So, why wait? Tune in now!
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