Advertise on podcast: The Practice Purchased Podcast

Most associates assume they need a down payment to buy a practice. They don't. What they need is cash in the bank, and a lot less of it than they think. Matt Mulcock has spent his career advising dentists on exactly this question. In this episode he gives Brian the number: roughly $50,000 to $75,000 in liquid savings, and retirement accounts don't count toward it. That's the financial bar. The harder one is the other half of the conversation. Brian and Matt work through both. Whether the math actually supports buying now, whether you should clear student loans first, and why the feeling of readiness almost never arrives before the decision does. In this episode: What lenders actually want to see, and why it isn't a traditional down payment The liquidity number Matt gives associates, and what doesn't count toward it Why the 20 percent savings rule is good general advice and bad specific advice Buying now with student loans outstanding versus waiting years to be debt free, and which one usually wins Why uncertainty, not risk, is what actually stops people The traits Matt sees in dentists who do well as owners What changes financially in the first year of ownership This Friday, October 2: Brian is doing a free live session, How to Find a Dental Practice for Sale, including the ones that never get listed. Noon Mountain / 2pm Eastern. The recording goes to everyone who registers. Register here: https://info.dentalbuyeradvocates.com/free-webinar-how-to-find-a-practice.html Thinking about owning someday? Get Brian's free Ready Kit for the steps leading up to buying a practice: https://www.dentalbuyeradvocates.com/ready More resources Read How to Buy a Dental Practice Book Schedule an introductory call with the Dental Buyer Advocates team About the guest: Matt Mulcock, CFP®, leads Dentist Advisors and hosts The Dentist Money Show. His firm works exclusively with dentists on financial planning, and he has spent years on the same question this episode asks: when do the numbers actually say yes. https://dentistadvisors.com dental practice acquisition, buying a dental practice, practice ownership, student loans, dental associate, practice financing, dental practice valuation, first practice purchase, financial planning for dentists, practice transition

His employer offered to sell him a dental practice for $75,000. He could write a check and own it outright. So why did Dr. Josh Matthews turn it down? Josh was already moving toward buying another practice when his DSO’s CEO made the offer. The price made him reconsider everything. But he knew the office’s problems firsthand, and his wife asked a question he couldn’t answer: What would he do differently to make it work? In this episode of *Practice Purchased*, Brian Hanks and Josh walk through the decision, how Josh found the practice he ultimately bought, and what ownership has actually been like. One thing worth noticing: the practice Josh bought was listed with a broker and didn't sell that way. He heard about it from a supply rep who'd called on that office for years. That's how most good practices actually move. If you're searching for a practice right now, Brian is doing a free live session on Friday, October 2 at noon Mountain time / 2pm Eastern: How to Find a Dental Practice for Sale, including the ones that never get listed. Register here: https://info.dentalbuyeradvocates.com/free-webinar-how-to-find-a-practice.html **In this episode:** - How a local banker and a dental supplier helped Josh connect with a seller - Why the $75,000 offer was so tempting—and what the price didn’t tell him - How his wife’s perspective and a review of the financials helped him decide - What changed after the seller became his associate - Why Josh has no regrets, even with the extra work and unexpected challenges - The first-day alarm mistake that brought police to the practice **Thinking about owning someday? ** Get Brian’s free Ready Kit for the steps leading up to buying a practice: (https://www.dentalbuyeradvocates.com/ready) **More resources** - [Read *How to Buy a Dental Practice*](https://www.dentalbuyeradvocates.com/how-to-buy-a-dental-practice-book/) - [Book an introductory call with the Dental Buyer Advocates team](https://www.dentalbuyeradvocates.com/schedule-a-call/) **About the guest** Dr. Josh Matthews Josh Matthews is a passionate general dentist and the owner of Matthews Dental Group in Brookfield, WI. A Creighton graduate and former Army dentist, he worked in private practice and a DSO before becoming an owner. https://dentistbrookfield.com/about-us/ Practice Purchased is hosted by Brian Hanks, MBA, CFP, founder of Dental Buyer Advocates and author of How to Buy a Dental Practice.

FREE "Ready" Kit — everything my clients use to get ready to buy a practice: https://www.dentalbuyeradvocates.com/ready RESOURCES The book, How to Buy a Dental Practice: Book an Intro Call to Learn More: Book a call with our team, here. Buying a dental practice feels scary for a reason—but the bank may already be telling you you're closer than you think. Brian Hanks and returning guest Mike Pakula, a healthcare lender with Bank of America, break down what “ready” actually looks like to an underwriter and why so many dentists overestimate the amount of perfection they need before they can buy. If you've been sitting on the fence because you don't “feel ready,” this conversation gives you a reality check and a roadmap. Mike explains how banks evaluate dental buyers using two major filters; 1. production and 2. liquidity. In this episode you'll discover: Why dentists are considered one of the safest small-business bets a bank can make The difference between being underprepared and simply feeling nervous What lenders mean by production, liquidity, and debt-service coverage The 20% to 25% cash-flow buffer most banks want to see Why seller or practice issues usually kill deals more often than the buyer does How a near-miss buyer lost sleep over two tiny issues—and almost walked away from a life-changing deal Mike also shares what underwriters flag most often, how student-loan payments affect lending decisions, why buying the whole practice usually beats buying in, and why purchasing the building can be a major wealth move.Most importantly, he gives one simple action you can take this week to become more fundable: know your production number and raise it if needed.Essential listening if you're considering practice ownership, wondering whether your finances are strong enough, or trying to turn anxiety into an actual acquisition plan. Brian Hanks is the host of the Practice Purchase Podcast, owner of Dental Buyer Advocates, and author of How to Buy a Dental Practice. Mike Pakula is a lender in Bank of America's Practice Solutions Division, with 15 years of experience financing healthcare and dental deals across the U.S.

Most associates wait to feel ready to buy a practice. That feeling isn't coming, and it was never the right test. FREE Ready Kit — everything my clients use before they buy: https://www.dentalbuyeradvocates.com/ready In this episode, Dr. Steve Van De Graaff shares his journey of buying a dental practice right out of school, the challenges faced, and key insights on leadership, emotional resilience, and the importance of mentorship for aspiring practice owners. RESOURCES The book, How to Buy a Dental Practice: https://www.amazon.com/How-Dental-Pra... Book an Intro Call to Learn More: Book a call with Craig, here. Dr. Steve Van De Graaff is a coach at The Lifestyle Practice and co-host of The Lifestyle Practice Podcast, where he helps dentists build practices that fit around their lives instead of the other way around. He trained at Creighton and did something most dental students are told not to do: he searched for, negotiated, and bought a practice during the second half of his fourth year, closing on a four-to-five-chair PPO office in North Augusta, South Carolina, in 2016. He paid off his student loans in year one, moved the practice off insurance within a couple of years, and owned it for eight before selling and moving home to be near family. Brian was his advisor on that purchase, before Dental Buyer Advocates existed. Reach Steve at https://thelifestylepractice.com/ or by emailing [email protected] Brian Hanks, MBA, CFP® has helped more than 1,500 dentists buy dental practices and is the author of How to Buy a Dental Practice, now in its fifth edition.

Most associates wait to feel ready to buy a practice. That feeling isn't coming, and it was never the right test. FREE Ready Kit — everything my clients use before they buy: https://www.dentalbuyeradvocates.com/ready Your Google reviews can make or break a dental practice purchase, and the biggest red flag is not the occasional bad review. It's the pattern hiding underneath. Dr. Len Tau breaks down how to evaluate a practice's online reputation before you buy, what review velocity signals to watch, and why a 4.7 to 4.9 rating can be healthier than a suspiciously perfect five stars. Brian Hanks and Dr. Len Tau get practical about the reputation side of dental practice ownership - the part most buyers overlook while focusing on the numbers. Len explains why Google matters most, when Yelp still matters, and why AI tools are mostly pulling from the same underlying signals. He also shares the exact kinds of review patterns that should make you pause, especially when the complaints keep pointing to the same front desk issue over and over. You'll discover: Why review velocity matters more than raw review count The review score range Len trusts most and why five stars can be a warning sign How to spot patterns in negative reviews instead of overreacting to one-offs What to do with old bad reviews after buying a practice Why name consistency, branded naming, and NAP data can affect local ranking Why listing services are not optional if you want Google to trust your practice How to build a reputation culture that drives trust, treatment acceptance, and growth Brian also presses Len on the first 30 to 90 days after ownership - including how to handle a transition when the retiring doctor leaves fast, how to avoid whiplash with patients, and why making major clinical changes too soon can backfire. Len shares the systems and habits that help new owners stabilize the practice, protect the team, and start building credibility from day one. Len Tau is a practicing dentist, author, host of the Raving Patients podcast, and a leading voice on dental reputation management. He also runs the Supercharge Your Dental Practice event and is releasing Raving Patients Supercharged, a blueprint for creating a review-driven culture and better patient experience. Essential listening if you're buying a dental practice, preparing for ownership, or trying to turn online reputation into a real growth engine. If you want patients to trust you before they ever walk in, this episode shows you where to start. Learn more about Len, here: https://www.drlentau.com/   RESOURCES The book, How to Buy a Dental Practice: https://www.amazon.com/How-Dental-Pra... Book an Intro Call to Learn More: Book a call with Craig, here. Brian Hanks, MBA, CFP® has helped more than 1,500 dentists buy dental practices and is the author of How to Buy a Dental Practice, now in its fifth edition.

Most associates wait to feel ready to buy a practice. That feeling isn't coming, and it was never the right test. FREE Ready Kit — everything my clients use before they buy: https://www.dentalbuyeradvocates.com/ready In this episode of Practice Purchased, I get into why "I don't feel ready" is a feeling worth believing and a reason worth ignoring. What the failure rate actually is for dentists who buy (0.14%). The five things a bank actually requires, most associates already have all five. Why dentists now wait five to seven years longer to buy than the generation before them, and what that delay costs. And the one genuinely hard part nobody warns you about: there's no MLS for dental practices. Season 9 answers the question every associate is secretly asking: am I ready? RESOURCES The book, How to Buy a Dental Practice: https://www.amazon.com/How-Dental-Practice-Step-step/dp/1544112114 Book an Intro Call with Craig: Book an Intro Call Blog and free resources: https://www.dentalbuyeradvocates.com/ Weekly newsletter: Sign up for our Newsletter Brian Hanks, MBA, CFP® has helped more than 1,500 dentists buy dental practices and is the author of How to Buy a Dental Practice, now in its fifth edition. #dentalpractice #practiceownership #dentistry #dentalpracticeowner #buyingadentalpractice

In this episode, Brian is joined by Dr. Sapna Amin and Brian Tomono to talk through the story of Dr. C, a younger dentist in the Las Vegas who was looking to purchase the practice where he was working. In part 1 of this 3-part story, we follow Dr. C as he gets into the legal side of the purchase. How important is the attorney? (Spoiler: vital.) How do you find a good one? How much should you expect to pay them? And the group wraps up by talking about the inspiring "why" behind Dr. C's purchase. In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.   Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Sapna Amin and Brian Tomono to talk through the story of Dr. C, a younger dentist in the Las Vegas who was looking to purchase the practice where he was working. In part 2 of this 3-part story, we follow Dr. C as he digs into the post-LOI phase of his purchase. Three things happen simultaneously, creating a very busy time for buyers: securing financing, due diligence, and navigating the legal side. Brian Tomono talks us through this process and how he helped Dr. C through it all. In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.   Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Sapna Amin and Brian Tomono to talk through the story of Dr. C, a younger dentist in the Las Vegas who was looking to purchase the practice where he was working. In part 1 of this 3-part story, we follow Dr. C as he begins talks with the selling doctor, and the DBA team gets to know the situation. This sounds like a pretty straightforward transition, but the devil is always in the details. And that gets to what makes your transition team so important: Is your team giving you answers? More importantly, are they teaching how to ask the right questions? In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.   Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. M, who was looking at practices in a relatively rural area of Maryland. This story is a bit of a wild ride, so buckle up!   In part 3 of this 3-part story, we follow Dr. M as he moves into the final stages of closing on his new practice. Among the interesting points to follow is what made Maryland an especially interesting state to purchase in. What did that mean for Dr. M, and what can other buyers in other states learn from that experience?   In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.   Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. M, who was looking at practices in a relatively rural area of Maryland. This story is a bit of a wild ride, so buckle up!   In part 2 of this 3-part story, we follow Dr. M as he moves past the LOI phase and works toward closing. Is the practice as good as it looks based on the collections? What are the different phases of due diligence that need to be completed? And what did lending look like for such a large transition?   In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.   Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. M, who was looking at practices in a relatively rural area of Maryland. This story is a bit of a wild ride, so buckle up!   In part 1 of this 3-part story, we follow Dr. M as he deals with a dual-representation broker and the difficulties that go along with that. Ultimately, Dr. M ends up scrapping that first deal and finding a much better practice.    In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.   Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. F, who was looking at a practice in an exurb of Chicago. Dr. F's story is a great example of what happens when there's a major wrinkle in the course of a deal. In part 3 of this 3-part story, we follow Dr. F as he works toward closing. With Brian Tomono's help, he went through the 100+ point checklist to be sure he was ready to step in as an owner. From patient charts to software reporting, hygiene and doctor books, an equipment audit, and dozens of other details that needed to be navigated before he eventually signed on that dotted line. In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. F, who was looking at a practice in an exurb of Chicago. Dr. F's story is a great example of what happens when there's a major wrinkle in the course of a deal. In part 2 of this 3-part story, we follow Dr. F as he navigates the lending process for a practice where he'll need to replace the production of two selling doctors. Can his dentist wife fill in the production gaps? Can she be added as a guarantor of the loan? Brian Tomono walks us through the various options and how Dr. F and the bank worked together to try to make it work. In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own. Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. F, who was looking at a practice in an exurb of Chicago. Dr. F's story is a great example of what happens when there's a major wrinkle in the course of a deal. In part 1 of this 3-part story, we follow Dr. F as he gets an offer from his boss to purchase outright the practice where he was working. Usually, if the numbers make sense, this is a great idea! But in this case the numbers did not work out, and there were some significant shenanigans from the seller. So Dr. F needed to walk away and find another practice to buy. So what came next? In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own. Schedule a free consultation with the DBA team Read Brian's book, How to Buy a Dental Practice Download our free Due Diligence Checklist See a sample valuation report on this page