64: Blueprint for a Successful Practice Sale—featuring Dr. Kevin Kenny

You’ve worked so hard for so long to build a private dental practice in your community. But now you’re thinking about exiting the business.So, how do you know when it’s time to retire? What can you do to plan for the next chapter of your life?Dr. Kevin M. Kenny is Adjunct Professor at the University of California, San Diego, and Founder of The Dr. Kevin M. Kenny Foundation, an organization that provides dental care at no cost to the working poor in San Diego and sponsors humanitarian missions overseas.Dr. Kenny ran his own large private dental practice in San Diego for many years before retiring seven years ago.On this episode of the Dental Board Room Podcast, Dr. Kenny joins host Wes Read to explain how he knew it was time to pass the torch and share his experience with selling a successful dental practice.Dr. Kenny discusses the team of advisors you need to plan a practice sale and challenges us to consider what retirement will look like before we walk away.Listen in for Dr. Kenny’s advice to young doctors on buying a dental practice and learn his simple blueprint for a successful practice sale.Topics CoveredA high-level overview of Dr. Kenny’s career as a dentistHow Dr. Kenny knew it was time to sell his practiceDetermining how much money you need for retirementHow bankers calculate the value of a dental practiceThe CPAs role in helping you plan for a practice saleMitigating your tax liability in a dental practice saleWhen to do a broker sale and when to sell your practice privatelyThe pros and cons of selling your practice to a DSOWhy you should hire an attorney who specializes in dental transitionsCleaning up your books before you sell your practiceHow to create a business plan for your retirementAdvice for young doctors who’ve just bought a practiceDr. Kenny’s blueprint for a successful practice saleThe humanitarian mission of Dr. Kenny’s foundationConnect with Dr. Kevin KennyThe Dr. Kevin M. Kenny FoundationConnect with Wes Read & Drew PhillipsPractice OrbitEmail [email protected] or [email protected] Practice CFOPractice CFO on InstagramPractice CFO on FacebookPractice CFO on YouTubeResources Dr. Kenny on Dental Board Room Podcast EP018McLerran & AssociatesGlobal Dental ReliefHow to Win Friends & Influence People by Dale CarnegieThe One Minute Manager by Kenneth Blanchard and Spencer JohnsonThe Richest Man in Babylon by George S. Clason