Are you a dentist who owns a practice? Have you been in business for a number of years and are thinking about a change? If so, selling a dental practice may be in your best interest. Not sure if it’s time to sell? Check out these three signs that could indicate it’s time to contact dental practice brokers and begin the process of selling your space.
1. You’re Considering Retirement
If you’re an older dental professional who’s been in the game for a number of years, you may be thinking about trading in your white coat for some flip-flops and a beach chair. As we age, it’s natural for us to want to focus more on ourselves and our families, reprioritizing what’s important to us. Keep in mind that businesses where the owner is actively involved typically sell for two to three times the annual earnings of the company, according to Investor Junkie. If you can feel yourself becoming less involved, it may be worth it to contact a dental broker sooner rather than later, in order to maximize your profit.
2. You Don’t Feel Excited About Work
While you may have once felt incredibly excited about walking into the office every day, if you find this feeling fading, it may be time to consider putting up your dental practice listing. When you don’t love your work anymore, it can be difficult to properly manage and lead your team in the ways that they need. Working with a dental broker is a surefire way to make the sales process as seamless as possible.
3. You’re Looking for a New Passion
Perhaps you’ve been dedicated to the dental field for quite some time. If this is the case, you may be looking to explore other avenues. After all, everybody has hobbies and interests outside of their work! If you find yourself at your office daydreaming about other activities, this may be a sign it’s time for a change. Perhaps you’ve always wanted to go into dental consulting or advising. Selling your practice and leaving the hard work to dental practice brokers can be a huge weight off your shoulders, allowing you the time to rediscover what you love.
If you’ve been on the fence about putting your dental practice on the market, considering these three factors can help you determine your next steps. To get started with putting up your dental practice for sale, call our dental practice brokers at Professional Practice Sales today. Our team of experts is here to assist you throughout the selling process.