Starting a dental practice is a significant career move for any dentist, presenting the choice between starting from scratch or purchasing an existing practice. While buying an existing practice may seem like the safer option due to its established patient base and immediate cash flow, there are compelling reasons why starting a new dental startup might be the better choice for some. Below, we explore why embarking on a dental startup could be a more advantageous path. Full Creative Control and Customization Starting a new dental practice from the ground up offers complete creative control ov ..read more

  Is 2024 shaping up to be a favorable year for dentists contemplating the sale of their practices? Xite has meticulously gathered insights from leading investment banks, synthesizing their economic outlooks for the upcoming year. Our objective is to distill this information for our clients, shedding light on the potential implications for the dental market in the months ahead.  The economic scenarios outlined below can have implications for a dentist considering selling their dental practice. Let’s explore how each scenario might affect a dentist in such a situation:  Base Cas ..read more

  Silent Dental Service Organizations (SDSOs) are revolutionizing the dental industry, reshaping the way dental practices operate and grow. These unique entities represent a new era in dental practice management, offering a blend of autonomy and support that is increasingly attracting dental professionals. An SDSO, at its core, is a partnership model. Unlike traditional Dental Support Organizations (DSOs) which may be more overt in their operations, SDSOs operate discreetly, valuing the individual brand and operational autonomy of each practice. They offer a compelling proposition for den ..read more

Marketing your dental practice is an important part of attracting new patients and growing your business. In this blog post, we will discuss some key considerations for how to market your practice to get new patients. One of the first things to consider is your target audience. Who are the patients you are trying to attract? Are you targeting families, seniors, or a specific geographic area? Understanding your target audience can help you tailor your marketing efforts and create more effective messaging. It is also important to consider the channels you will use to reach your target audience ..read more

The Timeline and Considerations for Medical Spa Real Estate   Join us on this episode of Medical Spa Insider as AmSpa CEO, Alex R. Thiersch, JD, chats with Albert Miles, vice president of Xite. Discover the ins and outs of finding the perfect real estate for your medical spa. From education to targeting your ideal patients, we cover it all. Tune in and learn more!  This episode of Medical Spa Insider is sponsored by RepeatMD.           About Xite Realty Xite Realty helps healthcare professionals in through every stage of their career including opening the ..read more

Having a strong and effective team is crucial to the success of a dental practice. In this blog post, we will discuss some key considerations for building a successful team for your dental practice. Roles & Responsibilities One of the first things to consider is the roles and responsibilities of each team member. This may include hiring hygienists, dental assistants, and front office staff, as well as defining their roles and responsibilities. It is important to ensure that each team member has the necessary skills and knowledge to perform their tasks effectively and that their roles are ..read more

A few weeks ago the Fed raised interest rates 0.25% with another possible rate hike this month when the Fed meets again.  Wall Street is assessing an 80% likelihood that the Fed will not change their interest rates in September, 70% likelihood they continue flat in November, and 61% that there is no change in December when they meet again. What does this mean for Dentists who own the real estate their practice occupies and are thinking about partnering with a DSO? First, the lending environment for Commercial Real Estate (CRE) should stabilize, and borrowing rates may come down, addition ..read more

Preparing your dental practice for sale can be a complex and time-consuming process, but it is an important step to ensure that you get the best return on your investment. In this blog post, we will discuss some key considerations for preparing your dental practice for sale.  Market Value First and foremost, it is important to understand the market value of your practice. This will involve reviewing financial statements, analyzing the practice’s strengths and weaknesses, and seeking the advice of a dental practice transition consultant. A transition consultant can provide valuable insigh ..read more

Starting a dental practice involves a range of legal considerations, from choosing the right business structure to securing financing and complying with regulations. In this blog post, we will discuss some of the key legal aspects to consider when starting a dental practice. Business Structure One of the first things to consider is the business structure of your practice. The most common options for a dental practice are a sole proprietorship, a partnership, or a corporation. Each business structure has its own advantages and disadvantages, and the right choice will depend on your specific ne ..read more

    A sales agreement is an important document when selling a dental practice. It outlines the terms and conditions of the sale and protects the interests of both the seller and the buyer. In this blog post, we will discuss some key considerations for what to include in a sales agreement when selling a dental practice.  Clear and Concise Description First and foremost, the sales agreement should include a clear and concise description of the dental practice being sold. This should include information on the location, equipment, and any other assets that are being transferred as ..read more