What Does “Turnkey” Really Mean?
If you’re preparing to sell your dental practice, you’ve probably heard the term “turnkey” thrown around by brokers, buyers, and lenders. But what does it really mean—and why does it matter?
In short, a turnkey dental practice is one that’s ready for a new owner to walk in, hang their license, and start seeing patients immediately with minimal disruption. No major upgrades. No staffing overhauls. No patient communication issues. Just a smooth transition.
— Think of a turnkey practice like a well-maintained car: the buyer just needs the keys—they don’t want to rebuild the engine.
Why Buyers Love Turnkey Practices
From the buyer’s point of view, a turnkey practice reduces risk, stress, and startup costs. It signals that:
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The practice has been well-managed
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Systems and workflows are already in place
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Staff are trained, retained, and engaged
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Patients are accustomed to the structure and ready to continue care
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Cash flow will continue from day one
In a competitive market, turnkey practices command stronger interest and often sell faster—sometimes with better offers.
What Makes a Dental Practice Truly Turnkey?
Here’s what buyers are really looking for:
1. Clean and Organized Financial Records
Buyers and banks need clear, reliable financials. That includes:
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3 years of tax returns and profit & loss statements
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Production and collection reports
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Fee schedules and insurance participation lists
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Payroll and overhead details
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A/R aging reports
If it takes weeks to track down basic numbers, buyers will lose confidence—or walk away.
2. Trained and Stable Staff
Turnkey doesn’t just mean equipment—it means people. Buyers look for:
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Low staff turnover
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Clearly defined roles
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Employees willing to stay through the transition (at least 3–6 months)
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A positive, professional team culture
Pro tip: Many sellers offer a small retention bonus to staff who stay through a set period post-sale. It’s a smart investment.
3. Efficient Systems and Workflows
Buyers want to know the practice runs smoothly. That means:
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Reliable scheduling and billing systems
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Digital charting and x-rays (if possible)
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A recall system that works
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Software and workflows the team can explain and use effectively
Even if your systems are basic, consistency matters more than flash.
4. Clean, Well-Maintained Equipment
You don’t need the latest CBCT scanner, but your operatories should be:
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Fully equipped and operational
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Clean and up to infection control standards
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Free of broken or outdated equipment
Buyers want to start working—not fix suction lines on day one.
5. A Lease or Real Estate Situation That’s Ready
If you lease your space, make sure the lease is assignable or renewable. If you own the building, decide before listing whether you want to sell or lease it.
Buyers don’t want to negotiate a lease from scratch at the last minute. A clear plan builds confidence.
6. Patient Retention Plan
The goodwill of your practice is built on patient relationships. Buyers love to see:
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A drafted patient letter announcing the transition
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Planned handoff messaging from you to your patients
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Continued hygiene scheduling
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A plan for insurance credentialing support
It shows you’re invested in making the transition smooth—for patients and the buyer.
“Almost Turnkey” vs. “Truly Turnkey”
A practice that looks great on paper but is disorganized behind the scenes can scare off buyers. Likewise, a practice that’s a bit dated—but has great staff, solid systems, and loyal patients—might be more “turnkey” than you think.
Ask yourself:
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If I handed over the keys tomorrow, could a new dentist succeed here without reinventing everything?
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Or would they have to clean up records, restaff, or fix broken systems first?
Final Thoughts: Turnkey Means Confidence
Buyers want to walk into a practice that feels ready. They’re not just buying collections—they’re buying peace of mind, momentum, and the ability to hit the ground running.
— The more turnkey your practice is, the faster it can sell—and the smoother the transition will be for everyone involved.
Want Help Preparing Your Practice for Sale?
At American Practice Consultants, we specialize in helping sellers get their practices “buyer-ready”—without overinvesting or overthinking it. From document prep to positioning, we’ll help you highlight what makes your practice turnkey.
📞 Contact us today for a confidential consultation.