Dental practice brokers are trained professionals that are here to help you sell your current practice, or buy a new one. They specialize in just about every facet of dental practice transactions including valuations, negotiations, and contracts. If you’re looking to buy or sell a dental practice, here’s how a dental broker can help.
A lot of people hesitate to hire a dental practice broker because they don’t want to spend the extra money. However, a dental broker will actually help you save money. They’re experts in their field and will help you avoid unnecessary expenses and costly mistakes.
A major part of their job is ensuring you’re getting your money’s worth, whether you’re buying, selling, or merging dental practices. With their expertise, they can help you differentiate the good deals and the bad ones, and guide you through complicated processes. Dental practice transactions are complex and can take years to navigate, but a dental broker will take on a lot of that workload for you to help you save time and money.
Realize Your Goals
One of the first steps to any dental practice transaction is having an in-depth conversation with a dental broker about your goals. If you don’t know exactly what those are yet, they’ll help you navigate that as well. Every situation is unique, and the job of a dental practice broker is to understand your needs so they can create a plan of action.
According to Dentistry IQ, Dental practice management consultants agree that, whether you’re a buyer or seller, “a dentist looking to transition in or out of any dental practice needs to formulate a plan with a team of experienced advisors… [including] a financier, consultant, appraiser, attorney and a CPA with experience handling dental practice transitions.” Dental practice brokers are here to help you manage this process so you can have a successful transaction.
As previously mentioned, dental practice transactions are complicated, take time, and require whole teams of people. Dental brokers will represent you and your goals at every step of the way. Whether it’s a banker, appraiser, lawyer, or another dentist, a dental broker will attend these meetings and advocate for you. They’ll save you an enormous amount of time by taking on this workload, and they’ll ensure that your needs are met.
Next time you need help with any sort of dental practice transition, contact Professional Practice Sales. We’re here to help!