If you’re a dentist looking to start a new dental practice, you may have questions about how to find a practice for sale online. The biggest thing to keep in mind during your search is to follow the 80/20 rule. Here’s an overview of what the 80/20 rule is and how it can help you find the right dental practice for you.
There are two ways to find a dental practice to buy: shopping on-market and shopping off-market. On-market means that a practice is being sold officially by a broker.
Off-market means that a practice has not been listed professionally. The 80/20 rule entails spending 20% of your search shopping on-market and 80% of your search shopping off-market.
The reasoning behind prioritizing off-market practices is that many on-market practices tend to be “leftovers.” Several people have probably already had the opportunity to buy these practices, and the fact that no one has yet indicates that they are undesirable in some way. That said, you should still spend some time shopping on-market since it’s easier and you may be able to find a good practice this way if you shop wisely.
By sticking to the 80/20 rule, you should be able to find a great dental practice in your desired area. Good luck with your search!