What’s the Average Time a Dental Practice Remains on the Market Before a Sale?
If you’re considering selling a dental practice, you’re likely wondering how long it will take to find a buyer. While most dental practice sales in California are completed within 150 days after listing, there’s no truly straightforward answer to this question. Many variables go into determining how long a dental practice will remain on the market before a sale. Here are some factors that affect how long the sale of a dental practice will take.
Location
No matter how well-equipped a building is, few buyers will be interested in it if it’s in a poor location. Patients won’t want to visit a dental practice that’s far away from them, and buyers are well aware of this. As a result, practices located in out-of-the-way areas will typically take longer to sell than those located in central hubs.
Equipment
One of the biggest factors a potential buyer will consider when looking at a dental practice is the equipment in the facility. Practices with modern, state-of-the-art equipment will usually sell more quickly than practices with old-fashioned or outdated equipment.
Advertising
Nobody will buy a dental practice if they aren’t aware that it’s for sale in the first place. Strong marketing is key for spreading the word and letting potential buyers know that you’re selling a dental practice. A good marketing strategy should target the right audience and make it clear why your practice would be a good investment for them.
Scheduling
Potential buyers will want to see a practice up close before they decide whether or not they want to buy it. It’s important to be flexible in your scheduling to allow plenty of opportunities for showings. You’ll also need to clear your schedule for an appraisal.
Paperwork
A lot of paperwork is involved in selling a dental practice. Potential buyers will want to look at your profits, client base, expenses, tax returns, and many other documents relating to your business. Compiling all of this paperwork can take a while, and the sooner in the sale process you take care of it, the fewer delays there will be.
Selling a dental practice is too much work to do alone. Let the best dental brokers in California assist you. Professional Practice Sales of The Great West (PPS) has decades of experience helping people sell dental practices, and working with us will allow you to sell your practice quickly and efficiently.
