You Need A Better Dental Retirement Plan

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Patient Attraction Episode 1240

– I’m Colin Receveur, CEO of SmartBox.

– Thanks for watching the Patient Attraction Podcast™.

– There are more dentists practicing now than at any other time in U.S. history.

– Given that there are numerous areas of unmet need, this next statement might sound strange.

– But dental practices are a glut on the market.

– No, seriously – the sheer number of private, group, and corporate practices has changed the dynamics of selling a dental practice.

– Back in the day, the number of available practices was far lower, so sale prices were much higher.

– Today, it’s common for practices to sell for 70 percent or less of earnings.

– Your $3 million practice is worth maybe $2.1 million at sale.

– That probably isn’t the kind of retirement you planned.

– So if earnings aren’t the key to a fulfilling retirement anymore, what is?

– It’s making more money now and investing for your retirement.

– You might be thinking, I’m already slammed with patients and practically on roller skates rushing between rooms.

– How am I supposed to make more money than I’m making now?

– There’s a 2-word answer to that question: better patients.

– Better patients make up at least 20 to 30 percent of almost every market.

– These are prospects who have the discretionary income to pay more for the right dentist.

– They represent much higher lifetime value to your practice than what you’re getting now.

– With better patients, you can work less, earn more, fund your retirement, and enjoy life while you’re getting there.

– Does that sound too good to be true?

– Not according to Dr. Sean Hanson of Salem, Oregon.

– He said, “I will be able to spend more time away from the office, and that’s really my biggest thing.

– “Ultimately, I can go and take a week vacation with my kids and take them to Europe or go somewhere farther away than just California.

– “That is ultimately the goal: that I’m not spending my 40s and 50s slaving away doing dentistry.”

– Dr. Hanson is positioned to enjoy the day-to-day practice and getting himself set for retirement because he partnered with SmartBox.

– SmartBox provides a steady stream of better patients so our dentists can focus on doing the dentistry.

– If you’d like to enjoy life as well as the practice of dentistry while preparing for a very comfortable retirement, here’s your first step.

– Go to smartboxdental.com and reserve your free, no-obligation Practice Discovery Session™.

– We’ll conduct a 25-minute phone call with you.

– We’ll take the results from that call to create your completely personalized Patient Attraction Roadmap™.

– The free, no-obligation Roadmap will give you recommendations for thriving in spite of the competition in your market.

– It’s yours to use however you wish.

– The time to take action to secure your retirement is now.

– Don’t gamble on selling your practice to fund your retirement.

– Put your practice on a better-patient footing with SmartBox.

– Join me for our next podcast.

– Until then, keep moving forward.