Dental and Medical Counsel Blog

Does It Make Financial Sense to Build a New Dental Practice?

By Ali Oromchian Esq

One of the most common questions I receive from young doctors is whether it makes financial sense for them to be a practice owner.  The answer may seem obvious to some who already own a practice but when you are faced with high student loans and other debt, it is reasonable to worry about taking even more loans to become a practice owner.  

Read More
Posted on 02/13/2019 at 10:00 AM

Legal Ramifications of Dental Practice Buy-Ins and Partnership Agreements

By Ali Oromchian Esq

Dental practice buy-ins and the partnership agreements they often require can be challenging issues for any practice, and carry with them a number of potential problems and legal ramifications for the unprepared. Understanding the legal aspects of practice buy-ins and partnership agreements will encourage you to solve problems even before they start. Like any change to a business, preparation is key. Once you have completed your due diligence, valued the practice, and agreed upon a purchase price and financing structure, a partnership agreement will need to be agreed upon and drafted.

Read More
Posted on 01/30/2019 at 09:00 AM

In A Dental Practice, Owning Real Estate Has Advantages Over Leasing

By Ali Oromchian Esq

Our dental clients often ask us, should I own the building where I have my practice? Our quick answer is usually "yes," but the analysis is – as you'd expect – quite a bit more complicated. In this post, we discuss some factors to consider when deciding whether to lease or purchase real estate for your dental office, and why ownership tends to win out over leasing most (but not all) of the time.

Read More
Posted on 01/23/2019 at 09:19 AM

How to Dissolve Your Dental Partnership

By Ali Oromchian Esq

Ideally, when you put together a dental partnership, you include the terms for what you needed to do later, if one or both of you wanted out of the partnership agreement. Unfortunately, that's not always the case, which means that you might need help to figure out how to effectively dissolve your partnership in a way that works for both of you. Whether you have a contract that clearly sets out how you need to go about dissolving your dental partnership or you're not sure where to start with the dissolution, there are several steps to follow. 

Read More
Posted on 01/02/2019 at 11:47 AM

Does Your Practice Provide Holiday Bonuses?

By Ali Oromchian Esq

It has been well-established that making your employees feel appreciated can go a long way towards maintaining their loyalty and even towards increasing productivity. This time of year, one of the most popular ways of doing just that is by awarding holiday bonuses. If you are choosing to award a bonus this year, you are not alone.

Read More
Posted on 11/28/2018 at 10:30 AM

Selecting Your Advising Team When Buying a Dental Practice

By Ali Oromchian Esq

Buying a dental practice doesn't happen in one smooth, easy step. In fact, throughout every step of this process, you need a team of advisors that will help track your needs and ensure that you are making wise financial and legal decisions to protect yourself as you purchase your practice and learn more about what it has to offer.

Before you purchase a dental practice, you need to:

Read More
Posted on 09/26/2018 at 10:36 AM

How To Value A Dental Practice

By Ali Oromchian Esq

When you are looking to buy or sell a dental practice, there are a number of steps you must take in order to be successful. If you are a dentist who is looking to sell, you might want to know what the market is like and what your practice is worth. Alternatively, if you are looking to purchase a dental practice, you might want to evaluate the value of that practice yourself, instead of solely relying on the assertions of the seller. Regardless of which party you are, you will need to be fully armed with the knowledge and understanding of how the evaluation process works. Failure to be informed could lead to a bad deal, sure to be accompanied by buyer’s or seller’s remorse.

Read More
Posted on 09/12/2018 at 03:43 PM

The Basics of Shareholders and Shares For Your Dental Practice

By Ali Oromchian Esq

Shareholder agreements: what, exactly, are they? How will they help you form the backbone of your dental practice? If you're thinking about forming a partnership with another dentist, especially if you're thinking about forming a partnership with several dentists, it's important that you understand the distinction between shareholder agreements and partnership agreements--and how shareholder agreements can help improve the functionality of your practice. 

Read More
Posted on 08/15/2018 at 08:09 AM

Understanding And Negotiating A Tenant Improvement Allowance

By Ali Oromchian Esq

Let’s assume you have found a commercial space to open your new dental practice. You, as a tenant, may be able to have your landlord pay you for the costs to improve your space in the ways that are needed to operate a successful practice. Whether you are a tenant who is seeking to upgrade existing space, or a new tenant who has not yet built out new space, it might be in your best interest to negotiate on a tenant improvement allowance for your commercial lease.

Read More
Posted on 07/03/2018 at 08:10 AM

Key Things To Consider When Drafting A Letter Of Intent

By Ali Oromchian Esq

Early in the process of purchasing a dental practice, before you formally purchase the practice, you'll start with a letter of intent. Your letter of intent is the first piece of legal paperwork in the practice-buying process, as it details your interest in buying the practice and sets out some of the basic business/economic terms. As you create this important document, make sure that you take it seriously! The terms in your letter of intent can help shape your purchase agreement and other important aspects of your purchase. 

Read More
Posted on 06/27/2018 at 09:53 AM

Subscribe to Our Blog

Hours

  • Monday

  • 8:00AM - 6:00PM

  • Tuesday

  • 8:00AM - 6:00PM

  • Wednesday

  • 8:00AM - 6:00PM

  • Thursday

  • 8:00AM - 6:00PM

  • Friday

  • 8:00AM - 6:00PM

  • Saturday

  • CLOSED

  • Sunday

  • CLOSED

Questions? Need More Info? Contact Us!