Practice Transitions

At KLAS we have well defined workflows to systematically guide both buyers and sellers from initial engagement, through closing and beyond.  We understand the process can be stressful so we are right there with you managing the process from start to finish.

 

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Why partner with us for your Transition?

The KLAS Difference

We are results driven.  Here is what sets us apart from the rest..

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You will be surrounded by trusted experts with integrity

We work with partners in all facets of dental practice transitions and management to ensure we are able to support you whenever you need us.  Some transition companies are solely focused on the practice transition and really do not understand the business of dentistry and how the real estate plays into the process of finding the right buyer and getting the most out of the time and investment you've made your whole career.

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We engage in respectable deals only

We want Seller and Buyer to have long lasting rapport and trust through transparency and encourage Buyers to have good due diligence to mitigate dismay at the 11th hour. The Industry norm is to push deals through quickly without Buyer’s proper due diligence or even legal representation which creates tremendous liability for both Seller and Buyer.

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Zero retainer or deposit fees

Put simply, there will be more money in your pocket when you partner with KLAS when buying your practice. The industry often charges $3k-$5k and up to as much as $10k just to engage Practice Transition services on the front end. Many will keep the retainer if a transaction does not occur.

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Lower fee structure than our competitors

KLAS provides the most favorable and fair fee structure in the industry, equating to tens of thousands in savings to you.

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We market our practice to qualified buyers only

We vet and then interview qualified buyers to ensure the right match and minimize risk of the deal not going through. Some competitors just want to close deals fast to get the commission regardless if it is a right fit for both sides.

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100% of the transition process is managed by our team

Our team provides experts with financial, operational, legal and real estate expertise who all work together on your behalf to secure a transaction that meets your goals.

Transition Consulting Areas

Full Service Management from Start to Finish!

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Startup

Assistance in navigating the process of establishing your first practice

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Sell your practice

8 Steps to Success for Sellers Program guides you from start to finish

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Buy Practice

Buy your practice

7 Step Buyer Success Program will make the process smooth and efficient

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Buyer advocate program

Research, evaluation and negotiation assistance

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Associate Placement

Profile analysis, candidate search & due diligence

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Listings

Review available listings or submit your own practice for sale

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Startup

Assistance in navigating the process of establishing your first practice

Introduction

Opening your first dental practice is one of the most significant transitions you’ll make in your career. KLAS Solutions Start-Up Program was developed to assist you in navigating the opening of you practice in the most efficient and cost-effective manner as possible. The information we provide with help build the framework for your success as a practice owner. In this workbook, you’ll learn the critical first steps to practice success:

  • Defining your goals
  • Developing a plan and timeline
  • Managing your financial profile
  • Selecting your “Team”

We provide you step-by-step guidance from our first conversation through the first year of ownership. Our goals are to arm you with proven information so you can begin this process with confidence. We have used this blueprint with our clients for many years with proven results.

Do your research and commit to the plan.

Being a business owner is a fulltime commitment that requires 100% focus and attention on the business. Be prepared to operate like a CEO not a dentist. As soon as you make up your mind to take this journey, start to explore the unknowns that lie ahead. As you filter through the advice and information, we suggest connecting with a consultant to help build a team of trusted advisers that we call the “Team”. If you are interested in hearing more about how KLAS Solutions can help, please contact us.

Where to Start

Much like building a home, any good business that is built for longevity is built with a strong foundation. We believe your vision of your business is the foundation by which all decisions are made about your business moving forward.
As a business owner, you will have the ability to take control of your life and professional schedule in a way you’ve never thought possible as long as you have a plan! Contact us and we will give you some ideas of how to develop the vision of your new practice.

Selling your Practice

8 Steps to Success

NDA Form
Step 1

Personal Meeting

  • Call us or fill out the contact form below and a member of the team will reach out to schedule a one-on-one meeting with you to discuss next steps. Besides finding the perfect buyer for your practice, making the entire process as smooth and stress free for you is our primary goal. We surround you with dental specific partners to help you in all aspects of the transition.
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Step 2

Practice Snapshot

  • Simply complete this practice snapshot form and we will review your information and respond promptly. Collecting your practice details is a vital part of the buyer matching process. The more thorough and accurate it is the better the result will be in the end.
Practice Snapshot Form
Step 3

Practice Valuation

  • There are several popular methods used to determine the valuation of a practice. It is important to understand all the relevant factors taken into account so you are ensured to get an accurate assessment that maximizes your return while also making sense from a buyer perspective. We will walk you through this process and make sure the proper expectations are set so there are no surprises for you or the buyer.
Step 4

List & Market Practice

  • Once all agreements are in place we will immediately begin the search. Now the fun begins! It is an exciting time for all involved and we will use all of our available resources to find the perfect buyer for your practice!
Step 5

NDA & Buyer Interviews

  • The KLAS team will handle the preliminary buyer interviews and narrow down the list to the optimum potential buyers before scheduling the sellerbuyer meetings.
NDA Form
Step 6

SellerBuyer Meetings

  • The sellerbuyer meetings are important to ensure that both parties can get their questions answered, are a good fit for each other and are in lock-step on the way to closing.
Step 7

Draft & Review Sale Agreement

  • Here is where the i's are dotted and the t's are crossed. Final questions are answered, negotiations completed, financials reviewed and legal redlines finalized before the big day.
Step 8

Closing & Transitioning

  • Yes! We made it. Congratulations! See, this is what we mean by being results driven. Here are those results! The KLAS team manages 100% of the process so you will never feel alone and without answers. We will be there from start to finish and beyond, whenever you need us.
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Step 2

Practice Snapshot

  • Simply complete this practice snapshot form and we will review your information and respond promptly. Collecting your practice details is a vital part of the buyer matching process. The more thorough and accurate it is the better the result will be in the end.
Practice Snapshot Form
Step 4

List & Market Practice

  • Once all agreements are in place we will immediately begin the search. Now the fun begins! It is an exciting time for all involved and we will use all of our available resources to find the perfect buyer for your practice!
Step 6

SellerBuyer Meetings

  • The sellerbuyer meetings are important to ensure that both parties can get their questions answered, are a good fit for each other and are in lock-step on the way to closing.
Step 8

Closing & Transitioning

  • Yes! We made it. Congratulations! See, this is what we mean by being results driven. Here are those results! The KLAS team manages 100% of the process so you will never feel alone and without answers. We will be there from start to finish and beyond, whenever you need us.

Buying your Practice

7 Steps to Success

Step 1

Personal Meeting

  • Call us or fill out the contact form below and a member of the team will reach out to schedule a one-on-one meeting with you to discuss next steps. Besides finding the perfect buyer for your practice, making the entire process as smooth and stress free for you is our primary goal. We surround you with dental specific partners to help you in all aspects of the transition.
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Let's Grow! Contact Us Today.

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Step 2

Complete Buyer Profile Form

  • Complete this Buyer Profile form, with comprehensive details, it is the key to achieving good results during our practice match search. To be a success, the whole process must be a cooperative effort between seller, buyer and our KLAS team. It starts right here.
Buyer Profile Form
Step 3

NDA & Interviews

  • Once all agreements are in place we will immediately begin the search. Now the fun begins! It is an exciting time for all involved and we will use all of our available resources to find the perfect practice for you!
NDA Form
Step 4

Practice Search

  • The KLAS team will handle the preliminary interviews and narrow down the list to the optimum potential sellers before scheduling the sellerbuyer meetings.
Step 5

SellerBuyer Meetings

  • The sellerbuyer meetings are important to ensure that both parties can get their questions answered, are a good fit for each other and are in lock-step on the way to closing.
Step 6

Draft & Review Sale Agreement

  • Here is where the i's are dotted and the t's are crossed. Final questions are answered, negotiations completed, financials reviewed and legal redlines finalized before the big day.
Step 7

Closing & Transitioning

  • Yes! We made it. Congratulations! See, this is what we mean by being results driven. Here are those results! The KLAS team manages 100% of the process so you will never feel alone and without answers. We will be there from start to finish and beyond, whenever you need us.
Klas Fav
Step 2

Complete Buyer Profile Form

  • Complete this Buyer Profile form, with comprehensive details, it is the key to achieving good results during our practice match search. To be a success, the whole process must be a cooperative effort between seller, buyer and our KLAS team. It starts right here.
Buyer Profile Form
Step 4

Practice Search

  • The KLAS team will handle the preliminary interviews and narrow down the list to the optimum potential sellers before scheduling the sellerbuyer meetings.
Step 6

Draft & Review Sale Agreement

  • Here is where the i's are dotted and the t's are crossed. Final questions are answered, negotiations completed, financials reviewed and legal redlines finalized before the big day.

Buyer Advocate Program

Research, evaluation and negotiation assistance

 

WHAT IS A BUYER’S ADVOCATE?

Making the decision to buy your first practice is a major milestone in a person’s business life, and one that no doubt fills the individual with equal parts excitement and pride.   However, without professional assistance, those positive feelings can often quickly turn to anxiety and fear.   After all, do you have an endless amount of time to scour through listings or see a practice through the proper eyes?   Do you have the proper “due diligence” knowledge to view all the numbers correctly?   The entire process can be an exhausting and emotional ride.   Don’t let the experience of buying your first practice leave you with regret: instead, why not rely on the skills and capabilities of an expert who will have your best interests at heart?   

Enter KLAS Solutions buyer’s advocate services.   Many people ask, “What is a buyer’s advocate?” Simply put, a buyer’s advocate or consultant is a practice transition professional hired by a prospective buyer to research, evaluate and negotiate the purchase of a healthcare practice and the purchase of real estate or lease options. Unlike practice brokers who have the interests of the seller at heart, a buyer’s agent looks after you – the buyer. In an industry where the majority of services are designed to help the seller, KLAS Solutions wants you to know that there is someone in your corner and who will work for you.

WHAT DOES A BUYER’S ADVOCATE DO?

KLAS Solutions buyer’s advocate offers these services:

  • We will search out practices that meet your criteria and assist in the purchase of that chosen practice and property for sale.
  • We will assist in making sure the seller is being transparent with their information and assist you in understanding the “due diligence” of the practice.

KLAS Solutions will also assist in a BOV for the property or lease review. This brings us to our next question: “How much does a buyer’s advocate cost?” As there is much less involved in just bidding for the practice you want, as expected this type of service will carry a lower fee. On the other hand, for a full service that involves the research, evaluation, and negotiation of a property, you may expect to pay a flat fee.

Associate Placement

Profile analysis, candidate search & due diligence

Leverage our Dental Network Connections to find an associate for your practice.

The KLAS Solutions team has worked with Dentists all over the United States. We have strong connections with those we have coached, helped with transitions or placed other associate colleagues. As part of our suite of consulting services we are in a good position to find you an associate or locate a practice to partner with if you are the one searching. Either way we can help, so reach out today to discuss!

Submit a Request for Placement

Provide the requested details below and we will be in touch shortly.

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Transition Success Stories...

This could be you! Free initial consultation.

Clint, thanks so much for all of your help to make the Superior St. transition run so smoothly.   We appreciated all of your help along the way, especially with the rezoning items.  Looking forward to working together again in the future!

Laura

SPICA Real Estate Team

"Thank you is the least I can say for the personal and professional service you have provided to me during this transitional period in my life. Phil, you are definitely a man of integrity, driven to provide professional help in all areas of concern."

Paul L. Lewis

D.D.S.

"Phil is always available to answer our questions and guide us through the process. He came back on the day of the practice close and continues to check in with us. I am are very happy with our decision to work with Phil and highly recommend him."

Stephen A. Novak

D.D.S.

"Thank you for making my retirement dream come true! On the recommendation of several people I contacted you...You gave me reasonable expectations on how long it would take to find a buyer for a small town practice and you delivered."

Karen Gougeon

D.D.S.

"Selling a practice is stressful...Phil, you handled all aspects of my practice transition with a comprehensive, friendly and professional approach. I recommend Phil Cole with total trust."

Paul L. Lewis

D.D.S.

Within 3 months of making the decision to work with Phil, I had 3 different offers on my practice...he guided us towards the company that offered everything we had asked for..."

Stephen A. Novak

"...you kept us informed on a regular basis on marketing strategies, prospective buyers... When you did find the perfect buyer, you worked hard to make sure that both parties were happy with the sale..."

Karen Gougeon

Questions?

We covered a lot of items on this page.  We are happy to discuss your transition needs and clarify any questions you may have.  Please reach out to us via the form below or call us at 844-522-7100.  We are looking forward to discussing your transition project.

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