Who are Today’s Practice Buyers and What are They Looking for?

If you’re a dental practice owner nearing the end of your career, you may be wondering: what’s the value in learning about today’s practice buyers and acquisition loans? Isn’t that dealing on the opposite end of my career path?

While it is the opposite end, the sale of your practice will take place in today’s marketplace where knowing the demand, demographics, and difficulties facing today’s buyers will be advantageous for you to get the best deal.

Ben Stewart joins us once again to share some key insights. Ben is the Sales Director for Bank of America Practice Solutions in the Central and Southeast. He is responsible for 20 Business Development Officers located in Georgia, North Carolina, Tennessee, Ohio, and Florida. They provide financing for Dentists, Veterinarians, and Physicians in private practice. Bank of American Practice Solutions is the largest dental lender in the country.

Questions addressed on this episode:

• What does a typical buyer today look like?
• From a lender’s perspective, what helps to make transactions the smoothest and easiest?
• What is the demand today for younger dentists who want to own practices?
• What are some trends you are seeing in today’s buyers?
• How are lenders looking at practices through this post-COVID recovery? What changes have happened to loan criteria and terms?
• Besides interest rate, what are other important factors for buyer’s to consider when looking for financing?
• What are difficult deals for banks to finance?

Ben Stewart can be reached directly by email at: benjamin.stewart@bofa.com or by phone at: 614-402-2936. 

Find dental practice transition specialists in your area by messaging: office@longinthetooth.info

Long in the Tooth provides non-clinical gems of wisdom for older dental practice owners. Learn more about this podcast at: longinthetooth.info