390: What’s the TRUE Value of Your Practice?

Have you fallen into the trap of perceived practice values? Brian Hanks joins Kiera and the Dental A-Team to bust some myths about buying and selling dental practices, and explain how each person in your office can contribute to a higher valued practice.

Too often values of practices center around collections and misconceptions about equipment. Listen to this episode to learn what numbers buyers and sellers should ACTUALLY be focused on in practices.

Brian provides tangible takeaways you absolutely cannot miss.

Episode resources:

Connect with Brian Hanks

Tune into the Practice Purchased podcast

Read How to Buy a Dental Practice

Read Selling Your Dental Practice

Reach out to Kiera

Subscribe to The Dental A-Team podcast

Become Dental A-Team Platinum!

Review the podcast on iTunes

Podcast Transcript:

Kiera Dent:

Hey everyone. Welcome to The Dental A Team podcast. I'm your host Kiera Dent and I had this crazy idea that maybe I could combine a doctor and a team member's perspective because let's face it, dentistry can be a challenging profession with those two perspectives. I've been a dental assistant, treatment coordinator, scheduler, office manager, regional manager, practice owner. And I have a team of traveling consultants where we have traveled to over 165 different offices coaching teams. Yep, we don't just understand you, we are you. Our mission is to positively impact the world of dental and I believe that this podcast is the greatest way I can help elevate teams, grow VIP experiences, reduce stress, and create A teams.. Welcome to The Dental A Team podcast.

            Hello Dental A Team listeners. This is Kiera. And you guys, sometimes I feel like in life, you just meet really awesome people that you want to hang out with. And I was actually doing an event for a study group in Seattle. I was on Zoom for a very long time and it actually was one of the greatest things because I met an incredibly well networked dental human that I feel you guys need to meet. His name is Brian Hanks and this man, he does practice acquisition, practice transitions. And what I love about him is he's very fair, he's very upfront, but more importantly, one of the biggest reasons I wanted to bring him on the podcast, yes, he does have a podcast so go check him out.

            But he's one of the most genuine humans I've ever met in my life. He's just pure goodness. He has a heart of gold. He put together this entire big shots of Utah when I came to Utah and I just was very impressed with who he is as a person and that's why I know he's insanely successful. So I am so honored to bring to the show today. Brian Hanks. Brian, how are you today?

Brian Hanks:

I'm so excited to be a guest on one of my favorite podcasts because I always get so much out of listening to you. So thank you for having me.

Kiera Dent:

You are so welcome. Well, thank you for that. It's true. When I met Brian in person, we were in Utah and Brian put together this whole breakfast. We had some really rad people. We had dental intelligence there. We had swell there. We had Ashley Garbe Smith. She's a lawyer there. We had a Randon Raiden. I always get it messed up. So I'm sorry right now. I think it's Randon. Randon.

Brian Hanks:

Randon. Yeap.

Kiera Dent:

Okay. He is your coauthor. We had Ben Tuny who does insurance. We had Mike. Withwe we was there. We also, I'm going to mess this guy's name up, he's the one that does all the practice financing. What was his name again?

Brian Hanks:

Morgan stamped with provide.

Kiera Dent:

Morgan. Fantastic. Fantastic there. Jaron with dental intelligence, Zika was well. It was just this... Oh, and then not forget Steve Nass. I think with the drill-down dental accounting. [crosstalk 00:02:43]

Brian Hanks:

NOCPA.

Kiera Dent:

Yep. So fantastic group of people and Brian, you put the whole thing together. And when I met you in person for the first time you told me you had just been listening to a Dental A Team podcast, which man, thanks. Thanks for being our listener. I appreciate that. So Brian, I've given an intro about you a little bit, but kind of tell about who you are, how you got into dental because you've got a pretty fun story and I love what you do for our dental profession.

Brian Hanks:

So I came into dentistry as the son-in-law of a dentist. So my father-in-law was a dentist in the greater Seattle area and he introduced me to this dental CPA. I was watching these guys work and I thought, man, what they do looks really fun. And I was still working on school and graduate degrees and things. When I got my graduate degree, came and worked in a couple of dental CPA firms. And of course, as the new guy, Kiera, as you know, I got assigned all the younger dentists, right? Those that were just getting started, didn't have as much money. Those were the folks that were associates or brand new owners. And so I got asked the same questions from associate dentists and those thinking about buying a practice over and over and over and I, similar to you.

            So actually totally different than Kiera, I'm lazy, right? So I would write blog posts to answer these people's questions. And then after a while I realized I had enough blog posts, I turned it into a book. The book turned into a business and now all I do is I help buyers and sellers of dental practices. I've written a few books and I've got a podcast and a course and all kinds of fun stuff to help people through transitions. But I deal a lot with staff members, assistants, hygienists, everybody dealing through that transition process, people thinking about selling people, thinking about buying and it's a really nice place to be. So I love what I do and it's a lot of fun.

Kiera Dent:

I really love that and I love that you addressed the team because this is obviously a team podcast and I was a team member of a practice that sold. And I remember it was very scary. I've also been on the other side where we bought practices and acquired practices and I remember as a team member, my world got shaken and you're trying to just figure out what you're going to do, what's going to happen with your doctor, what's going to happen with your job. It was kind of a... I vividly remember being so grateful that I was just finishing up my internship because, or my externship. I was like peace out guys. Good luck with the transition. I'm out of here.

Brian Hanks:

I have to ask though, Kiera did you know the practice was changing hands before it actually changed hands?

Kiera Dent:

I did not. And being on the buying side and the selling side of practices, I know that that feels a little deceptive to team members, but I'm going to be completely honest as a buyer that the team is one of the most valuable pieces of a practice. So if word gets out that you're selling, teams usually will jump ship versus like hey, you're going to have to go find another job anyway, you might as well stick it out with the buyer and see if you even like them and most of the time I will say doctors are very choosy. Of course not all the time, but usually when they're selling yes, top dollar, it is a factor. However, I think especially the doctors that really genuinely love their practices, do a lot of homework and a lot of research and really vet the buying doctor to make sure it's somebody that's going to transition those patients the way they want them to be taken care of. That's at least what I've seen, but Brian, you've done way more than I have. So what's your take on that?

Brian Hanks:

So there's a, and then obviously a little bit of a tangent to where we're going, but you think about the value of what's in a dental practice. What you're really buying are the habits, the goodwill, the knowledge and staff's head. And as a buyer to come in and pay 75%, 80%, sometimes 100% of last year's collections number for a practice or for sale and then to tell that same buyer, listen, I'm not going to tell the staff until I see money hit my bank account feels very... It can be very scary for a buyer and it puts at risk one of the biggest things that sellers say that they care about in a transition and that is the legacy, right? Their staff, their patients and things. So I say, instead of thinking about what's right for the buyer or what's right for the seller, why don't we all think about who we're supposedly in business to help?

            And those are the patients. So what is right for the patients? So is it right to tell the patients three years in advance you're thinking about selling your practice? Probably not. That doesn't make a lot of sense. Is it right to announce to the world when you list your practice that it's for sale and you're entertaining offers? Maybe, maybe not. Right? But if you've identified a buyer and a buyer has a letter of intent signed and that buyer is talking to banks and that buyer has hired a lawyer and your lawyers are talking to each other, wouldn't it be helpful as a seller to have your staff in on the decision to help vet that buyer and make sure that buyer is going to take care of those patients. When your patients really appreciate the fact that the staff was aware that they know.

            Now you got to be careful. Yes, there are some conversations you'll have to coach people through and you'll have to do some phrasing and wording, but shoot, that's what the Dental A Team podcast is all about. How to phrase answers to patient questions and how to be the most effective in those conversations. So I always tell buyers if your seller is demanding that the staff be kept in the dark, that's a red flag. It's not necessarily a reason to walk away from a sale, but it could be a reason to maybe pay less for a practice because that says something about the culture of that office. That doctor doesn't trust their staff, that doctor doesn't have the skills to coach their staff through difficult conversations. And that can play a role in how much that practice is worth. So just a few thoughts off the top of my head. So there is a right way to handle it. It can be individual, but there are some general principles that make sense for most people.

Kiera Dent:

Oh, I love that because I think... And that's why I wanted to bring you on is because buying and selling practices, it's kind of hot right now. There's a lot that's going, real estate is hot right now. There's a lot of people graduating, a lot of transitions happening, a lot of doctors saying, hey, COVID, it's a COVID crank and I'm done and I just don't want to do this anymore. And so I think that it's a pretty big, hot topic. Also I know team members are feeling that way. So Brian, I feel you write a lot of blogs. Guys, check out his book. I have access to them as well. They're fantastic books. I feel like what you do well Brian is you and I are very synergistic. I try to take dental systems and make them very simple, break them down and you do the same thing with buying and selling a practice, which I feel myself.

            I've bought quite a few practices and I've sold quite a few and I'm like I don't know what the heck I'm doing. It's usually like just wing it and hope for the best. And I'm a pretty lucky person so I've been on the lucky side of it. However, I think that there should be a little more tactic to it. So you had mentioned though, a different spin on this of kind of the value of a practice because that's obviously what a lot of sellers and buyers are looking for. And it's always talked about it like what's my practice valuation? What is this practice going to sell for? What could I get for it? Is this my retirement plan? But I really loved the spin you took on this. So kind of walk us through the different spin on a practice value.

            Don't you guys love being the office that just stands out? I'm always looking for ways for us to dazzle and shine in the most effective, easy way possible. And you guys, Weave is a company that does that. They allow the patient information to pop up when the phone rings. And so you can actually talk to the patient about their likes, their family, the things that they're working on. And so you can actually have a really, really personable conversation plus they do a ton more. So you guys text the number phones, so texts phones, P-H-O-N-E-S to 797979. You guys can get a free demo of Weave and a $25 gift card. So you guys check them out. I think they're awesome and they can help you guys stand out. But 797979, phones, P-H-O-N-E-S.

Brian Hanks:

Yeah. So for listeners with Dental A Team podcast specifically, I thought about what would be the most value and it would be for listening to podcasts like this. So whether you're a staff member, you're a hygienist, you're an assistant, you're working at the front desk, you're a potential buyer, you've already bought and you're thinking about selling or selling is 20 years in advance. If you can think about the value of the business you're involved in, whether it's you're involved in running or you're thinking about buying, you just work there. If you can think about the value of that business, there is always something new that you can add. There's always something better that you can bring to the table. And either you will appreciate it as the owner, you'll appreciate as a buyer or your boss, whoever that is, there's the owner of the practice, will appreciate it.

            And so the big question that I hear Kiera is all right, what is the value of the practice? In fact, I can vividly think right before COVID at a dental conference in the buffet line, right, for breakfast, I'm behind two dentists and they're talking to each other and dentists one says, [inaudible 00:11:23] I'm thinking about selling next year. I collected 852 years ago, I collected 750 this year. I think I can probably get like 700 for my practice. Right? And they're talking in collections. And dentist two turns and he goes, see now, yeah, that sounds about right. And if you thought about buying some equipment, you should get a 3D panel. My equipment rep said that if you buy something, you can get the price back when you sell the practice. And so these guys are talking to each other and I'm biting my tongue and I'm trying so hard not to say anything.

            And it's because this conversation exhibited all of the flaws that are inherent in how people think about the value of dental practices. Too often, it's centered around collections, which is a very vastly incomplete way to look at practices. We'll talk about the right way. And then there's a lot of misconceptions around things like equipment and the timing of sales and all of that. So if you're game, I'd love to talk a little bit about what actually matters in a practice value and in how you would value a business, what things contribute or don't contribute to practice value.

Kiera Dent:

You know I'm always in Brian. I wouldn't bring you on the podcast if I didn't like what you have to say. And I'm always just like tell me more, which is why I love you on this, because like... Please tell everybody what your degree is.

Brian Hanks:

So I got an undergrad at Green Business and then I got an MBA from the University of Michigan.

Kiera Dent:

Okay. I just had to say that you're into business, you're into numbers. You're like usually those people are sometimes boring. I'm sorry, guys. You love your numbers. And Brian, you're very intriguing and you're very inspiring. And I love that you also cater to your audience. So yes, absolutely. Everybody wants to know what the true value of a practice is, because like you said, I think so often we just go to the bottom line and we don't realize what things really do add value and what doesn't and I'm curious because I'm like, okay, pen to paper, guys, I'm taking notes over here. I'm ready

Brian Hanks:

Okay, so let's talk about the wrong way and how most people think about valuing a business, right? And the number that gets thrown around is the price as a percentage of collections, right? So they'll say practices sell for, and I can give you the exact number. 2020 data. I don't have to all 2021 yet, but over 1400 practice sales that I've been involved with, I've gathered data from, the average currently that practices sell for is 74.48% of last year's collections. Okay? That's great. That is good information to know. If you are thinking about the value of the business you work in or you thinking about buying or selling, that's a great number to kind of have in your head. It's an average. But that's where most people stop the thought process. And that is the wrong way to think about it for two reasons:

            Number one, by definition an average has to have an equal number of practices that sold for more or sold for less than that number. So what I tell dentists, they're a very confident bunch. Dental staff tend to be very confident as well. They hang around dentists, it makes sense. So every dentist, I feel like, lives in the proverbial Lake Wobegon, right? They're stronger, they're wiser, they're better drivers, they're better looking and by the way, their practice is worth more than the average dental practice, right? So they think, hey, if the average is 74.48, I should be 80 because I'm me, therefore I'm going to list my practice at this price. The second reason why that's a mistake because it's missing the two biggest factors in practice values. The two big factors are profit, and I'm going to call them the qualitative kind of features of a practice. Right?

            So let me get a little more detailed. Profit. Profit matters so much more than collections. Collections is a factor in practice valuations, but profit is the true measure of how much a business is worth, right? So just as a basic example and Kiera, you own some practices so you know if you had two practices, both collecting a million dollars and you had overhead in one of like 80%. In other words, that dental practice is putting $200,000 a year in the owner's pocket. Then at the other practice, they had 60% overhead that practices putting $400,000 a year in the owners head. That second dental practice should be worth more than the first practice. It's very basic, very simple, right? Very few dentists actually mentally go to that place to think about what is my overhead?

            And there's a fancy accountant word that we use. We use EBITDA, right? Earnings before interest, taxes, amortization, and depreciation. And that is a measure. That's an accountant's a calculated number. It's a little more difficult to get to than collections, but not impossible. Your CPA should be able to help you get there without any problem to help what your overhead is or your EBITDA. It's just a fancy way to say how much money is going into the owner's pocket at the end of the year. And if you collected X, how much Y went into the owner's pocket. Okay? That's huge. That profit number is big. So the more profitable you are, the more your dental practice is worth. And if you are an assistant, you're a hygienist, you're working in that office, the more you cost or the more money you put into the practice, the more that practice is worth. Okay?

            Similarly, the second factor that matters a lot more than collections are the qualitative features of practice. So this is, I'll call it curb appeal, right? So if you think about buying a house, this would be like what neighborhood it's in? Are we talking urban, suburban, rural? Number of operatories, square footage, the type of equipment. Are we looking at shag carpet? Are we looking at a practice that's been updated sometime in the last 10 years? There are a lot of features that play a bigger role in the value of a practice than just simply thinking about an average collections number.

Kiera Dent:

For sure.

Brian Hanks:

So if you're thinking about buying a practice someday, if you're working in a practice, if you're thinking either tomorrow or 20 years from now about selling your practice, there's tremendous value. You can find a lot of value by thinking about how much is my dental practice worth? How much is the practice that I work in worth? And here's the secret. If you're an owner, by the way, if you're a dentist listening to this podcast, that's great, right? Kiera comes and she wants to buy your practice and you can sell at a higher multiple because you listen to this podcast. That's a good thing. I want that to happen for you. But the real secret to this is if you're a dentist who's not selling for 3, 5, 25 years, thinking about practice value, you're naturally going to bring down your overhead. And that's going to put more money in your pocket now, right now, as an owner, right?

            And the real money in dentistry, isn't by buying and selling dental practices. The real money in dentistry is made by the year in year out ownership of that income stream and doing what's right with that. And hopefully taking great care of patients, making that staff feel valued, paying them well, right, so they bring in the right type of patients. All of those things matter. They matter a ton. And if you're one of those dentists who, or someone in dentistry who just heard, oh, the average practice sells for 75 and this seller is selling for 80 therefore I'm getting ripped off. Or the average practice sells for 75%. I want 85 because I'm a special snowflake. I'm here to give you that tough love conversation that I have a lot of my clients that that is, it's just a juvenile way to think about value and you need to get past it.

Kiera Dent:

Well, I think it's also, like you said, I mean housing market is hot. I haven't done a follow-up to the fact that we didn't get the house that we bought in December. Hello, welcome to 2021. It's fine guys. Don't worry. My hopes and dreams were all dashed. I'm just kidding. So we're building a house right now, but I love that you brought that analogy to it because every house lined up, if you just like panel them next to each other, they might all be valued the same. However, when you actually walk into one, I'm like this house, no way would I ever pay that amount because value is actually perception. It's not there. It's just a perception. Do I perceive this value to be there? I mean, you look a Bitcoin. Remember? It was like Bitcoin, somebody's Bitcoins were worth like whatever pizza was and it's just perceived value.

            And so I love that you put that spin on there because not every buyer will want your practice, but looking to see what are some of those things that will make it more valuable. Just like with the house you look for better school districts, you look for no flood risk or no... You look to see, are you in a healthy school district? Can you walk to school if you're trying to rent to younger families? Are you looking for a more high end that has unobstructed views? What's going to create more value for that home, same thing with your practice. And I also love that you talked about how you guys like... People know when they coach with The Dental A Team. I am wicked on your overhead because I just feel like I was a very naive business owner that didn't know anything about overhead. I'm like what the heck? How come my bank account never goes up and I'm working like 50 times as hard as I was before. Well, welcome to overhead 101 care.

            So in Dental A Team, we focus on three pillars: money, so it stands for MYS, M-Y-S. So money and financials, you've got to be a profitable practice. Team members, you want your doctor to be profitable. And the reason why is because there is more security for you and your future job when your owner is profitable. They're not as scared. They can pay you more. They can add better technology to their practice. You have better patient care because there are more opportunities that happens. You want your doctor to be financially secure. Then we do... We'll focus on you. That's the Y, you as a person, are you building up that development? Are you balanced as a person? Are you investing in leadership? Are you investing in your team as people.

            And then S is for systems and teams. Making sure it runs on those systems. Because so many offices, we have to realize we love our practices. So we think our practice should sell for so much. I remember my parents tried to sell our house. Guys, my parents put this nasty teal carpet in their house and they thought it was like the cat's meow. It looked terrible. And then the second house I moved to had pink carpet. My parents did not know how to choose carpet and so when they were really sad nobody bought their house, I'm like, well, mom, this does not appeal to most people. It appeals to one pot. Every pot has a lid. They're just some pots that have more opportunities for lids to fit versus others.

            And we had one of those like octagon shaped houses that nobody really wanted to buy. But it worked for my parents' needs and they thought it was amazing. And so I think it's important to realize that team members can add value by having systems in play that you can have a very profitable practice that really does make it to where it has curb appeal and value to future buyers as well. Because I think it's important. Some people tell me, like I heard one team member she said, when she heard that her doctor was thinking of selling the practice in a few years, she said that deflated her. She felt like there was no more motivation because what was she working towards? And this is just my philosophy. So Brian, I'm curious on yours. I am huge on believing that every business should always be built with the intent to sell because we never know what's going to happen to us.

            And then also we don't have actual systems in place. We have tribal knowledge in place. Where as if we are thinking of... You guys, I literally build Dentally team as a business to be sold at any time. I have no desire to sell. I don't want to, I love what I do. But right now I realize Dental A Team is solely a cure it at face. So we've got to change it and have it be more of a Dental A Team, not just a cure dent team. Otherwise there really is no value in Dental A Team as a business. So if something were to happen to me, if I'm flying, who knows where or something happens, does that destroy the entire practice and the entire business? And so really looking to see how can we make this profitable? How can we make this a great value for any doctor that would want to come through versus putting teal carpet and only one buyer we want to buy? How can you make this more attractive to multiple buyers?

            So that's kind of what I took away from it. And also not even if you're thinking about selling now, but always looking to see what systems could we put into place. How can this practice run on a system? Because not only will it make it more attractive to a potential buyer in the future, but it also makes our lives way easier as team members today, now makes the dentist more profitable, makes our team more profitable, makes our patient experience that much better. So those are some of my takeaways. Any other thoughts you have on that Brian?

Brian Hanks:

Totally agree. I love the emergency planning. I have my certified financial planner degree. So my inner CFP is cheering you on Kiera for that kind of estate planning mentality of what if I get hit by a bus tomorrow? What happens to my staff, my patients? I love that mentality, but I would even think like think about your ownership days and what if... Can you imagine an assistant walking in, knock, knock, knock on your door and say, Hey Kiera, I was just thinking, I was just listening to a podcast. It talked about overhead. Do you know what the overhead is for this practice? And then what is something that I can do as an assistant to help lower that number? I mean, after you picked yourself up off the floor [crosstalk 00:23:51]

Kiera Dent:

I was going to say I'd fall over dead. I would just like, oh my gosh, I'm sorry what?

Brian Hanks:

Because that knock, knock, knock, it's always, hey, can I have more money or hey, I need this time off. Or hey, I want this benefit, right? It's always me, me, me, me, me. And if you're a staff member listening to this, think about the ownership perspective. I mean, if that employee walks into my office and asked me that question, yeah, I would love to do these three things. And by the way, when that happens, I'm going to be able to do the 401k. I'm going to be able to do the profit share and we'll be able to do these bonuses, right? All the rewards follow if that happens. So now I totally agree.

Kiera Dent:

I love the thought that you just tied for team members, because I think often team members might hear this and gloss over when in reality teams, you have so much influence on this and I want it to always be driven. I believe that when you reduce overhead, you actually reduce stress and you also increase the patient experience. And so if those are your driving factors, ask your doctor how you can reduce it. You guys do know how much... I was the assistant that threw away Liteken and Septo and all the carps of composite that weren't quite done, but it was just a little too inconvenient to have to wipe them and put them away. So I just toss.

            That adds up guys, I don't know if you know how much a carp of composite costs, but that stuff is expensive and that was just me being lazy and not really realizing what I could do as a dental assistant, then as treatment coordinators following up on the plans and you're right. I think so often as team members, we want all these different things and we don't realize that we actually could contribute heavily so it's much easier for those things to get implemented. Right now, I sit here, I'm like, okay, team wants benefits. They want 401ks. They want time off. They want all these things. And I'm like, cool. Okay, looking at the balance sheets, looking at all the different pieces and you're like, wow, all right, where are we going to have to change?

            And it would really be awesome to have team members take that ownership where they own the practice as well because I would venture to guess those teams are going to help pick the doctor that's going to come in and purchase that practice or choose the associate that's going to eventually buy that practice. We have a lot more influence in that so their future is much more secure as well. And they have a lot more influence in that.

Brian Hanks:

I love it. I love it. Yep. So if you're sitting there today, what is something tangible that you can do right after listening to this? The first thing that I would say is if you're an owner or you're going to be an owner, know what your overhead percentage in your practice is. If you don't know that number right now today, I would say, get out your phone, send a text to your CPA, an email, whatever it is and say I need to know my adjusted overhead number right now. Find out what the number is and then ask that... So the follow-up question after that is what are some simple things that I can do to decrease that? How do I compare to other dentists? What can I do to decrease that number? If you're a buyer thinking about buying a practice, the number one thing to look at is the overhead number, right? And how much profit is that dental practice putting in your pocket.

            After assuming of course you can pass the, oh, I'm going to now, I'm going to call it the green carpet Kiera test. Can I live in the city? Do I like the number of operatories? Is this a patient base that I want to serve? All of those things. I mean, let's assume for a minute, you've got that basic in place. So those are some things like... And then the last thing that I would say is just avoid the most common mistake you can make with dental practice values. And that is to think of practice values just in terms of collections. It's a mistake. It will lead to heartache, I promise. It's a good starting point to think about values if you're a, I don't know, meeting with M and annually for that financial planner and you just need to put a plug figure in to kind of know about what your practice is worth. Sure. 75% of last year's collections. Great, you know a kind of placeholder figure, but that is not what you're going to go list your practice for when you eventually sell, whenever that is.

Kiera Dent:

I love it. And then I would do a follow-up on that. And team members, I would look to see how you can add value to your practice, make your practice more valuable to a potential buyer, to reducing the overhead. Go be that team member that literally knocks on your doctor's door and says, hey, what can I do to help reduce overhead? Where are we at? What can I do? You will have... I know if a team member came and said that to me. I know that that team member is highly invested and I'm going to jump over burning buildings to give that team member a lot of opportunities in life. I believe that a lot of great things can come to those team members as well. So, Brian, gosh, you just have a wealth of knowledge. I know you specialize in people who are buying and selling practices. That's kind of your niche. So if people have questions or they're interested in that, kind of walk them through exactly what you do and how they can connect with you.

Brian Hanks:

Yeah. So I help buyers and sellers of dental practices. I have a couple of books and I have some free resources. If you're looking for free, I've got two podcasts. They're in seasons. One is it's just called Practice Purchased, the name of the podcast. That's for buyers. And then I've got one for sellers called Selling Your Dental Practice. Again, very creative, right? I have that kind of background so. And then if you hop on Amazon, you type in my name, you'll see a couple of books. I've got two for buyers and one for sellers. And again, How to Buy a Dental Practice and Selling Your Dental Practice are the names of the books. And I try to lay it out there. I'm not trying to make money off the books. They're really reasonably priced and I'd be honored if I can help with anything. Folks are welcome to reach out to me anytime. Probably the easiest would just be an email, [email protected] and I'd be happy to help with whatever you've got in mind.

Kiera Dent:

Cool. And he's Brian B-R-I-A-N not Y.

Brian Hanks:

Correct. Yes thank yo.

Kiera Dent:

So Brian, you are such a wealth of knowledge. I am so excited I've connected you with a few people. You've connected me with a few people. I think it's just great. I'm so excited because I know I have a ton of dental students who are looking to buy practices and often don't even know where to start. So guys, that's why I want on here that way you have a resource. So hey, all my Midwestern peeps, all those dental students, those of you looking, Brian is fantastic. He will give you so much great free advice. He's got a ton on his website, on the podcast, check him out. Amazing. Brian as always thank you. It's been so fun. I truly admire who you are. You're just a genuine good human and I know you genuinely care about the people you help and just offering value wherever you can. So thank you.

Brian Hanks:

Right back at you Kiera. It's been an absolute pleasure and I love dealing with you, but I also love to see the results that you get for the clients that I send your way. So keep doing what you're doing. You're doing great work.

Kiera Dent:

Thank you. All right guys, go check out Brian and as always, thank you for listening and I'll catch you next time on The Dental A Team podcast. And that wraps it up for another episode of the Dental A Team podcast. Thank you so much for listening and will talk to you next time.