Hometown Dental

Husband and wife, Dr. Kevin Conklin and Dr. Calie Dang had been practicing dentistry for nearly 3 years when they were presented with the opportunity to purchase a local practice, Hometown Dental. In a few short months, Dr. Dang developed a strong client base.

Excited about the potential for growth, Dr. Conklin and Dr. Dang turned to the Lock Haven Small Business Development Center (SBDC) for guidance with financial feasibility and deal structuring. They were referred by Dr. Terry Hendricks, a long-time SBDC client and the previous owner of Hometown Dental.

During the course of several weeks, the clients and SBDC Director met numerous times to develop and review the business plan, financial projections, and loan package information. With a total project of nearly $1.25 million, Conklin and Dang were able to cobble together funding from two separate commercial loans through M&T Bank, seller financing, and their own investments in order to acquire the existing dental practice.

On December 28, 2012, loan closing was completed and Conklin and Dang took over the practice of a well-established business. They hope to improve efficiencies so they can see more patients and expand their service offerings to include more expensive procedures, such as dental implants and orthodontics, that will maximize the available billing hours. Based on estimates by the new owners, the revenue potential of the practice will annually exceed $1 million.