Jared A. Bergquist, CCIM

For First-Time Buyers

First-Time Practice Buyer Checklist

Buying your first practice means becoming a business owner overnight. Use this checklist to keep every stage on track — from the groundwork before your search through the final steps to closing. Print it, check off each item, and bring your questions to us.

Before You Start Looking

  • Get pre-qualified for financing. Knowing your borrowing capacity defines your search. Ask us to connect you with dental-specific lenders who understand practice acquisitions and often offer better terms than a conventional bank.
  • Assemble your advisory team. A dental-experienced broker, a CPA who understands practice transitions, and a healthcare attorney.
  • Define what you actually want. Location, practice size, specialty mix, patient demographics, and your own clinical philosophy.

Evaluating a Practice

  • Review three years of financials. Production, collections, overhead, and the owner's add-backs — documented and defensible.
  • Examine the active patient base. Patients seen in the last 18–24 months, new-patient flow, hygiene recall, and payer mix.
  • Assess the team. Staff continuity after closing is one of the strongest predictors of a successful transition.
  • Inspect equipment and technology. Note what is current, what is dated, and what you will need to replace soon.
  • Understand the real estate. Leased or owned? Review lease terms — and whether buying the space is an option worth exploring.

Getting To Close

  • Complete formal due diligence. Verify the financials, confirm licensing and compliance, and review all contracts.
  • Negotiate the purchase agreement. Price, terms, transition support from the seller, and non-compete provisions.
  • Secure final financing. Convert your pre-qualification into a firm commitment tied to the specific practice.
  • Plan the transition. How you will be introduced to patients and staff, and how long the seller will stay for continuity.

Ready to buy your first practice?

We guide first-time buyers through every step — financing, diligence, and the lease that ties it all together.

(702) 521-9953

jared@bergquistgroup.com