Patrick Dichter

Updating my bio for new followers - I’ve acquired 3 accounting firms. Appletree provides bookkeeping, tax and consulting to small businesses nationwide. Previous background was sales and advisory. Dad of 3 boys.

@BigDemoPrez Just gotta take the trip and keep trucking

@patrickdichter This is the true pro move. Also powerful: mentally giving up (for a brief moment, silently)

If your pipeline isn’t moving just try to take a vacation. We had a lull with QOE projects, then 1 of our 2 lead QOE specialists goes on vaca and a slew of proposals suddenly sign.

@plain_wild Yeah it’s like clockwork. Alaska sounds amazing

@patrickdichter Same always happens to me in real estate. It’s been pretty slow. I’m headed to Alaska next week. I’m sure it will get crazy. Always does.

@BoilerPlateCPA Done.

@patrickdichter Will you buy my firm I’ve decided to go into the much easier and lucrative path of buying restaurants

There’s 3 people I know who acquired accounting firms after me in the last few years and they’ve already sold to do something else. It is not at all easy or passive.

@Abir_CFO It’s hard but a lot to like. What do you prefer? E comm?

@patrickdichter Easily my least favorite business lol

@Sam_Rosati 2 of them yes

@patrickdichter Accountants by trade?

@theDSOguy @ClintFiore @navydentist1 $100k profit at one location? Or all of them? Thats amazing!!

@patrickdichter @ClintFiore @navydentist1 Ya boy cracked 100k in monthly profit since then

It's been a while since I've reintroduced myself. Here's my story. Didn't have much money growing up, so I went through dental school on an Army scholarship. Spent 7 years as an Army officer as an orthodontist. Got out of the Army and came to Austin where I opened a dental practice in 2021. I did it in partnership with a small DSO that was really just a small "confederacy" of practices at the time. We pair GP and Ortho in large clinics that are entirely doctor owned. The name DSO has gotten a bad rap due to poorly run, PE backed practices that focus more on profits than patients. Ironically, in the current tough environment, many of these rollups shops have neither now. We're working to build a different kind of dental organization that empowers partners to build thriving practices. Our group is up to 25 practices (I do NOT own all of them btw). We've been working hard to build out some of the support systems over the last few years and if you've followed me, you would have seen in real time as we've built call center, marketing, RCM and financial teams. I've been personally building a second Austin location with a 3rd in the works and then a couple of incredible new partners I met on X and I have been been working on an exciting specialty arm that has exploded to 5 clinics within the last year. If you've interested in joining as a partner, be sure to send me a message. I'm also trying to gradually build in the real estate space, where I've learned a ton from X over the last few years. If this is interesting to you, I would love a comment and a follow!

@ClintFiore @theDSOguy @navydentist1 Haha time for an update episode on practice growth and Clint’s gains

@theDSOguy @navydentist1 @patrickdichter All I can see is how fat my face looks

@JackieHirsch_ At all! Unless you want to see it dissolve

@patrickdichter Not passive at all!

@michaeltdoan Yeah some people think that

@patrickdichter Passive? That word never crossed my mind. 😂

@thehvacjack 😂

@patrickdichter What?!?! Dude just hire an operator.

@DBarnettMoncton Not sure

@patrickdichter Any data available on whether they made money in operating or trading them?

@ETAJourneyman Yeah some just sell the dream. But there’s definitely communities and people who give realistic expectations

@patrickdichter Every time I see course sellers advertise passive income, I roll my eyes. They are doing a disservice to people and potentially leading them down financially harmful paths. This stuff is tough and few businesses are on auto pilot without significant effort

@MarcTheAardvark I still think it’s a great industry to be in but time will tell

@patrickdichter Isn’t accounting like the worst biz to buy? AI coming for that

@Bsoutherland23 At least $250k SDE, 25% recurring revenue as bookkeeping/payroll, 2 tax pros to stay post close. Those criteria eliminate 75% of what’s for sale, and anything above that in each criteria makes it better to buy

@patrickdichter What does an attractive firm look like from your perspective?

@CPATaxTeam 2 first timers, 1 with M&A experience

@patrickdichter First timers or veterans who didn’t know any better?

@RyanCarlsonCPA Nope. Gotta give it your 100% focus for a few years and then it might pay off

@patrickdichter Definitely not for the faint of heart

@landforce Is the business still operating?

5 years ago my company went public. In order to get the deal done I gave up my board seat as a bargaining chip with the new suits. I also didn’t have the resume for a real C Suite title at an OTC pubco (lol) so I agreed to a novelty one: CTO. Now the company I built with my friends had real execs with real exec experience the market would love. At the first board meeting, when I met our new CEO and team in person, I wore this hoodie so they knew what I was all about. I spent the next 18 months execution mogging every one of them with Oren and signing off my emails with LFG and other things they didn’t understand, while they ran everything they touched into the ground. Just found this thing while packing up stuff and it brought all the memories back. I was sure my wife had thrown away all my ironic hoodies years ago. Was a hell of a run.

@DevinWanzor @jamesonhaslam 😂

@patrickdichter @jamesonhaslam Mini Cooper of boats.

how dangerous would it be for me to spend a lot of time out on the open ocean in something like this