Dear Friends and Colleagues,
We small business owners are very much in the same boat right now—the dentists, the attorneys and accountants we work with, and ourselves—we are all experiencing an interruption and an uncertain timeline that requires us to take stock and look into the future.
This event has impacted dentistry in unique ways, and we’d like to offer a few important perspectives and provide support at this critical time.
More dentists are now considering early retirement. In recent weeks, we’ve received many calls from dentists who may have only been casually considering a future practice sale, yet are now understandably thinking about moving up their timetables. For these dentists, earlier retirement presents a brighter path than undertaking a major recovery effort. The current downtime also allows many dentists more time to have initial conversations with us about what an earlier sale may look like, and how they can best prepare. If this describes you, we’re here to help.
Dentists are well positioned for a strong recovery. While many industries are faced with unprecedented uncertainty, people will always need dentists. For those who have a good relationship with their community, there is no reason not to expect you will return to pre-pandemic levels. While it may take some time, and optional and cosmetic treatments may take more time to rebound, dentists are much better positioned to weather this crisis than many small business owners.
Dental practices continue to be recognized as a low financial risk. Our team of experts report that lenders continue to recognize the stability of our industry, despite the crisis. This means that funding options for buyers will likely remain favorable in post-pandemic recovery lending programs. Further, we also see that the disruption caused by this crisis appears to be displacing a segment of younger and mid-career dentists, who will seek to use available funding to establish their own practices rather than returning to work for others.
We are here for you, and are prepared to provide the experience, depth of insight, integrity, and commitment to win-win solutions for which ddsmatch is known. We remain very optimistic about the future and believe in the tenacity of our community. We also recognize that often the unexpected is a catalyst for positive change and creative solutions.
Stay hopeful and healthy,
Andy Edmister & Randy Kinnison
ddsmatch Southwest
