How to Find Practices for Salezafar2019-07-30T21:54:20-07:00
California Practice Sales: How to Find Dental Practices for Sale in California
This page is for you if you’re a dentist seeking a California practice. Sales listings like those on our website are a natural place to start. Yet, they are not the only place to find dental practices for sale in California.
You can check practice brokerage firms, professional publications, dental societies, equipment representatives/suppliers and colleagues in your targeted communities.
You should also register with California practice sales brokerages like PPS, since they are going to be your best source in locating opportunities. When you register with us, you can specify criteria for the kind of practice you want. We’ll notify you when we list new dental practice sales in California.
Advice about FSBO (For Sale by Owner) Practices
Be particularly careful if you locate a FSBO (For Sale by Owner) practice. Not having done this before, this dentist is not properly equipped to represent his/her sale. Such a sale lacks objectivity. Quite often the asking price is what the seller justifies as appropriate for his/her legacy. The seller’s accountant and attorney are working hard to get what is best for their client, and they have no idea what the market is for their client’s practice. And no one knows what the appropriate disclosures should be outside of providing financial statements and tax returns on the practice. Further, FSBO sales lack direction since there is no party engaged with the professional expertise and commitment to handle the sale competently.
Often with FSBO sales, you will encounter scenarios suggesting an association first and a sale later. This may seem reasonable at first, but watch out. These situations often go awry when the two dentists with different intentions develop friction over a wide variety of issues.
Also, avoid the virtual sale where the owner’s intent appears to be continually selling off a 50% piece of their practice.
Here’s the bottom line… Don’t waste your time investigating a purchase where the seller is not clear on completing the stated objective.
Revisit the agents by phone. Dentists who eventually purchase a practice typically make it a priority to keep in contact with the agents. Agents often know long before California practice sales are advertised if a new opportunity is in the works.
Be realistic. Understand that you probably won’t find the “perfect” opportunity. What you are seeking is a solid and healthy foundation on which you can build your ideal practice. If your search is grounded in realistic expectations with an understanding of how to build that practice, then you can create your “perfect” opportunity!
“Ray, after two years of looking for the right opportunity, I finally have my practice. I investigated numerous opportunities through private sellers and other firms. I can say that the practices I investigated through PPS of The Great West were the most transparent in their presentation and that the due diligence information provided mirrored your offering packages.
I did not find this to be the case with other practices I had investigated. Even though Ray represented the seller, he made sure that I had all of the information I needed to make my decision. There have been no surprises and I am very pleased with my purchase and now enjoy a very busy practice. You and Edna are good friends.”