In this episode, our host Bob sits down with Timothy Brown of ROI Corp to delve into the world of dental practice value maximization. Timothy shares his inspiring journey, starting with his father's accidental entry into the dental supply business in 1948, leading to the establishment of a formal dental practice appraisal and brokerage service in Canada. 

They discuss the importance of a thorough appraisal, the unique aspects of family business dynamics, and the factors that make the dental industry resilient and attractive to banks. Timothy also offers valuable advice on how dental practitioners can prepare for a successful exit and the critical role of lease agreements in practice value. Whether you're looking to sell, buy, or simply understand the market better, Timothy's insights are invaluable. 

Tune in to the full episode to uncover the secrets behind maximizing the value of your dental practice. Learn from Timothy Brown's extensive experience and gain insights that could make a significant difference in your business. Don't miss out!

Episode Highlights:

• 00:00 Welcome to The Wealthy Entrepreneur Podcast
• 04:32 Dental Practice Valuation and Financing in Canada
• 10:43 Dental Business Model and Real Estate Brokerage Services
• 13:57 The Emotional Impact of Selling a Business
• 18:08 Preparing Dental Practices for Sale, Including Accounting and Legal Considerations
• 21:24 Selling Dental Practices, Appraisals, and Leasing Spaces
• 24:59 Lease Management and Consulting Services for Dental Practices
• 29:41 Selling and Buying Dental Practices, With Tips From an Expert

About the Guest:

Timothy A. Brown is the CEO and Broker of Record for ROI Corporation, Canada’s leading professional practice appraiser and broker since 1974. Renowned for his insights and extensive research, Timothy is a highly sought-after speaker, respected author, and publisher. His acclaimed "Profitable Practice" series underscores the investment potential in dental, optometry, and veterinary practices, while his role as publisher of Profitable Practice Magazine further cements his authority in the field.

With over 350 international speaking engagements and 300 published articles, Timothy's direct and insightful communication style empowers practice owners to reach their highest potential. His innovative concepts, such as Locum Lifestyle™ and Investor Dentist™, showcase his forward-thinking approach, making him a pivotal figure in the professional practice industry.

Connect with Timothy:

• LinkedIn: https://www.linkedin.com/in/timothy-a-brown-ceo/
• Facebook: https://www.facebook.com/people/Timothy-A-Brown/100009156602068/
• ROI Corporation website: https://roicorp.com/
• Monday Morning Millionaire website: https://www.mondaymorningmillionaire.com/

Resources:

• Profitable Practice – Why a Dental Practice is an Exceptional Investment: https://www.amazon.com/Profitable-Practice-Dental-Exceptional-Investment/dp/1770410260
• Profitable Practice – Why an Optometry Practice is an Exceptional Investment: https://www.amazon.ca/Profitable-Practice-Optometry-Exceptional-Investment/dp/1770415912
• Profitable Practice – Why a Veterinary Practice is an Exceptional Investment:https://www.amazon.com/Profitable-Vet-Practice-Veterinary-Exceptional/dp/1550229400
• Visit the Million Dollar Year Website: https://www.milliondollaryear.ca/ 
• Download The Wealthy Entrepreneur (digital book) for FREE: https://www.milliondollaryear.ca/wealthy-entrepreneur/opt-in 
• Like our Facebook Page at https://www.facebook.com/milliondollaryearprogram 
• Join The Wealthy Entrepreneur Community for FREE at https://www.facebook.com/groups/gauvreaucpa 

For more podcast episodes, subscribe to our Youtube Channel at https://www.youtube.com/@milliondollaryearprogram.

Let’s continue to work on becoming a Wealthy Entrepreneur!