Why It Matters Who You Choose to Sell Your Dental Practice
Choosing a broker to sell your dental practice is one of the most important decisions you’ll ever make for your career, your financial future, and your peace of mind. Unlike many other states, Ohio does not regulate practice brokerage. That means anyone … with or without training, credentials, or accountability, can claim to be a dental practice broker.
My name is Bob Brooks,
and my company is Practice Endeavors, LLC.
I’ve been committed to raising the standard of
the dental practice brokerage profession since 2003.
I hold two nationally recognized credentials: Certified Business Intermediary (CBI) with the International Business Brokers Association (IBBA) and Certified Exit Planning Advisor (CEPA) with the Exit Planning Institute. These organizations set rigorous standards for training, ethics, and ongoing education, standards that most Ohio brokers simply do not meet.
In fact, I helped create the first national credentialing program specifically for dental practice brokers in partnership with IBBA, working directly with their executive director. I also served as program chair for the Practice Value Study Group (PVSG), a national network of brokers committed to professional growth.
Most practice sales also involve real estate, and Ohio law (ORC 4735) requires that brokers handling real estate must be licensed. I’ve held a real estate license since 2003 and am currently a licensed real estate broker. Shockingly, many Ohio brokers do not hold real estate licenses, yet they perform real estate activities and are compensated for this indirectly through practice sale commissions and sometimes directly through real estate commissions, in direct violation of the law.
I don’t guess at listing prices. I use IBBA-taught valuation methods and generate data-backed Most Probable Selling Price (MPSP) analyses for both practices and real estate. I also commission 70+ page reports from a national real estate firm to support commercial property valuations. As a result, our listings are realistic, defendable, and attractive to buyers. Most sell at or near the asking price.
I’m also a member of the Ohio Business Brokers Association, whose membership is made up of all types of business brokers. Fortunately for me, I’m the only dental practice broker who is a member. We have featured speakers, but I lead the group each month with a professional “best business brokerage practices” presentation.
If you're planning to sell your practice, I encourage you to ask tough questions of any broker you’re considering. Your career deserves a thoughtful, ethical, and qualified exit. I’d be honored to speak with you confidentially and share how we help dentists close with confidence.
Take control of your future
PVA℠ helps practice owners prepare for the inevitable transition of their practices to new ownership.
J. Robert “Bob” Brooks, CEPA, CBI
J. Robert “Bob” Brooks, CEPA, CBI, leads Practice Endeavors, an Ohio-based practice brokerage and dental realty company. His company provides practice owners with the tools they need to prepare well for life after practice ownership and to find the best price/best fit buyers for their seller clients. Bob was integral in starting the first of its kind dental practice broker credentialing for the International Business Brokers Association.