The Dental Business PodcastHow To Build And Sell A Practice - with Grant McAree
Brad returns with special guest, Dr Grant McAree, the founder of one of the internet’s most valuable resources for dentistry professionals, and one of the most successful operators of business and marketing courses for dentists.
Grant has just sold his own dental practice for a multiple figure sum, and joins Brad to share his inspiring story, talks you through the mechanics of buying and selling a practice, and discusses why selling a practice should not be considered to be a one-time event in your own dental career.
KEY TAKEAWAYS
- Many believe that the culmination of a dental career comes with the sale of a practice, but as Grant has proved, selling a practice can be a regular occurrence, allowing us to achieve financial freedom and the ability to pursue other interests.
- A squat dental practice is essentially a practice started from scratch, usually with a single surgery to begin with and aspirations to be a highly profitable business.
- Open Day advertising should never cease The important thing is to get customers interested, and coming through the door. It should not be limited to one day per period.
- Running a practice for profit is entirely different to the model you need to adopt if you wish to exit through sale. There are ways of increasing the potential value of your practice for sale that must be considered in order to make the proposition more attractive to potential buyers.
BEST MOMENTS
'In dentistry there isn't enough truth about building a practice'
'This is a golden time for the financial aspect of dentistry'
'What cheapens your profession is doing bad work'
'This doesn't have to be complicated'
VALUABLE RESOURCES
Grant McAree LInkedIn -
https://dentalbusinessmentor.co.uk/business-coach-for-dentists/
Advertising And Marketing Tips By Dentists For Dentists (Facebook) - https://www.facebook.com/events/d41d8cd9/advertising-and-marketing-tips-for-dentists-by-dentists/311842172803750/
ABOUT THE HOST
Brad believes that everyone at any level should be focused on achieving multiple sources of income to create diversity and balance in life. He feels passionate about helping dentists work towards freedom by building wealth in different areas and helping to develop a mindset to improve one’s ability to handle the stresses of clinical life.
Still a practising dentist, Brad has implemented strategies to create a practice to allow him to carry out the dentistry he wants whilst continually expanding with loyal staff and patients. These strategies can be adapted to any dentist, whether you are an associate or the practice owner, to help bring back your passion for dentistry.
In addition to running a successful private dental practice, he has grown
several other dental businesses and as an investor is growing wealth outside of dentistry to help protect his legacy for his growing family.
He is chair of the Horsforth Town Team, dedicated to the promotion and development
of business in his local area in North Leeds, UK.
Due to his track record and down to earth advice, he has become sought after
as a mentor and spends part of his time dedicated to mentoring dental professionals about business, mindset and personal development.
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