Sidekick - Autumn 2016 - East - 17
What are your exit options?
Each practice situation is different and will determine options
available. Typically they include:
* Sale to a corporate dental services organization
* Sale to a group practice
* Sale to a third-party dentist
* Sale to an associate dentist already in the practice...possibly
phased over time
* Closing the practice and selling assets. For example, real estate
or "transferable" real estate lease
* Bankruptcy. Chapters 7, 13, or 11 of the Bankruptcy Code offer
different mechanisms for protection and help
When should you start working on your exit strategy?
In the four or five years before a planned exit, you should
intensify your transition plan and actions for the best
possible outcomes.
Where can you find help?
As the baby boomer generation moves towards retirement, there
are many dentists at a similar stage. That is good and bad! It's
good because there are many colleagues and advisers to help; but
bad because many practices are becoming available at roughly
the same time.
I recommend talking to:
* practice brokers, valuation specialists, and practice consultants
* colleagues
* your accounting and tax advisor
* your lawyer
* your financial, investment and estate planning advisors
* dental service organizations, local dentists, and dental groups
who may be interested in your practice
* your Henry Schein representatives.
Get that advice and guidance early!
About the Author: Dr. Kaye completed his graduate dental school
training at the Columbia School of Oral Medicine in New York
City. He is recognized as one of the first general dentists in the
US to be certified in Invisalign; is the founder of Kaye Dentistry
PLLC, a world class reconstructive, cosmetic, and implant
dental practice; and is the founder and director of the New
York Center for Digital Dentistry. Dr. Kaye consults with other
dentists and dental manufacturers; lectures on topics including
ceramics, occlusion, and digital dentistry; and performs live
patient demonstrations to dentists. He is a graduate of the
Dawson Center for Advanced Dental Training, a member of the
International Speaker's Academy, and is on the guest faculty for
Planmeca University in Richardson, TX.
Strong financially,
I want to continue
Excellent
financially,
it's time
to leave.
Financially improving,
I want to build.
Financial
Strength
And
Practice
Valuation
Gap
Financial
difficulties,
I want out!
Emotional Readiness
To Leave The Practice
Where are you today? This chart juxtaposes the financial and emotional realities.
Sidekick | Autumn 2016
17
Table of Contents for the Digital Edition of Sidekick - Autumn 2016 - East
Contens
Sidekick - Autumn 2016 - East - Cover1
Sidekick - Autumn 2016 - East - Cover2
Sidekick - Autumn 2016 - East - 3
Sidekick - Autumn 2016 - East - 4
Sidekick - Autumn 2016 - East - Contens
Sidekick - Autumn 2016 - East - 6
Sidekick - Autumn 2016 - East - 7
Sidekick - Autumn 2016 - East - 8
Sidekick - Autumn 2016 - East - 9
Sidekick - Autumn 2016 - East - 10
Sidekick - Autumn 2016 - East - 11
Sidekick - Autumn 2016 - East - 12
Sidekick - Autumn 2016 - East - 13
Sidekick - Autumn 2016 - East - 14
Sidekick - Autumn 2016 - East - 15
Sidekick - Autumn 2016 - East - 16
Sidekick - Autumn 2016 - East - 17
Sidekick - Autumn 2016 - East - 18
Sidekick - Autumn 2016 - East - 19
Sidekick - Autumn 2016 - East - 20
Sidekick - Autumn 2016 - East - 21
Sidekick - Autumn 2016 - East - 22
Sidekick - Autumn 2016 - East - 23
Sidekick - Autumn 2016 - East - 24
Sidekick - Autumn 2016 - East - 25
Sidekick - Autumn 2016 - East - 26
Sidekick - Autumn 2016 - East - 27
Sidekick - Autumn 2016 - East - 28
Sidekick - Autumn 2016 - East - 29
Sidekick - Autumn 2016 - East - 30
Sidekick - Autumn 2016 - East - 31
Sidekick - Autumn 2016 - East - 32
Sidekick - Autumn 2016 - East - 33
Sidekick - Autumn 2016 - East - 34
Sidekick - Autumn 2016 - East - 35
Sidekick - Autumn 2016 - East - 36
Sidekick - Autumn 2016 - East - 37
Sidekick - Autumn 2016 - East - 38
Sidekick - Autumn 2016 - East - 39
Sidekick - Autumn 2016 - East - 40
Sidekick - Autumn 2016 - East - 41
Sidekick - Autumn 2016 - East - 42
Sidekick - Autumn 2016 - East - 43
Sidekick - Autumn 2016 - East - 44
Sidekick - Autumn 2016 - East - 45
Sidekick - Autumn 2016 - East - 46
Sidekick - Autumn 2016 - East - 47
Sidekick - Autumn 2016 - East - 48
Sidekick - Autumn 2016 - East - 49
Sidekick - Autumn 2016 - East - 50
Sidekick - Autumn 2016 - East - 51
Sidekick - Autumn 2016 - East - 52
Sidekick - Autumn 2016 - East - 53
Sidekick - Autumn 2016 - East - 54
Sidekick - Autumn 2016 - East - 55
Sidekick - Autumn 2016 - East - 56
Sidekick - Autumn 2016 - East - 57
Sidekick - Autumn 2016 - East - 58
Sidekick - Autumn 2016 - East - 59
Sidekick - Autumn 2016 - East - 60
Sidekick - Autumn 2016 - East - 61
Sidekick - Autumn 2016 - East - 62
Sidekick - Autumn 2016 - East - 63
Sidekick - Autumn 2016 - East - 64
Sidekick - Autumn 2016 - East - 65
Sidekick - Autumn 2016 - East - 66
Sidekick - Autumn 2016 - East - Cover3
Sidekick - Autumn 2016 - East - Cover4
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2017vol3_east
https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2017vol3_west
https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2017vol2_east
https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2017vol2_west
https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2017winter_west
https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2017winter_east
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2016autumn_east
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2016summer_east
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2016spring_east
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2015winter
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2014summer
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2014winter
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https://www.nxtbook.com/nxtbooks/henryschein/sidekick_2012summer
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