Are you a dentist who is looking into selling or buying a dental practice or two? Much like buying a house, buying a dental practice is an extensive process that you don’t want to rush into. Before purchasing or expanding your dental practice, you’ll need to find a dental broker who can assist you with the process. Read on to learn three ways you can find a great dental broker.
1. Read Reviews
With so much of the world operating virtually in this day and age, you can find a plethora of information right at your fingertips. Simply going onto Google and searching for local dental brokers in your area is going to unveil some information about these businesses. Reading the reviews is a great way to determine what customers think about their experiences with these potential brokers.
2. Ask Other Dentists
If you’ve been operating a dental practice for a while, you likely have fellow colleagues who have some experience purchasing or selling a practice. Never underestimate the power of good conversation and advice. You can learn a lot about what worked and didn’t work for other dentists simply by word of mouth. Reach out to trusted friends in the industry for advice.
3. Compare and Contrast
Always be sure to explore your options when hiring a dental broker. Consider keeping track of the research you do. Log the information you collect during your search into a notebook or document so that you can revisit it after you’ve explored your options. According to ADA Marketplace, most dental practices typically require an initial investment of around $500,000. With such a large investment at risk, it’s important that you take your time to weigh your options before choosing a dental broker.
Whether you’re selling or buying a dental practice, it’s crucial that you work with a dental broker who best fits your needs. Be sure to check dental practice listings, ask around to colleagues, read reviews, and do clear and concise research to determine the most ideal dental broker for you. If you’ve been considering buying a dental practice, our team at Professional Practice Sales of The Great West is here to help. Contact us today to learn more about our services and what we can do for you!