Selling your dental practice is a big undertaking, and that’s why it’s important to work with experienced dental brokers. There are many dentists looking for dental practices for sale, which gives you plenty of potential buyers. At Professional Practice Sales, we’re proud to have over 53 years of experience as dental brokers, and we’re here to tell you some of the biggest things to keep in mind before you sell your practice.
Your Desired Outcome
It’s important for you to consider your desired outcome for the sale and why you’re deciding to sell. You may come to find you don’t really want to retire and just want to work fewer hours. If you decide to continue with the sale, you’ll need to ensure your successor has the values and skills to treat your staff fairly and the qualities to carry out their work successfully.
The Planning Process
When you’ve decided to sell and determined the desired qualities for your successor, it may be worth looking at ways to potentially increase the value of your practice. This could be done by updating office decor, increasing the number of new patients, and paying off debts, to name a few. An experienced dental broker can work with you to get the most value out of your dental practice.
Practice Valuation
Before your practice is put up for sale, you’ll need to calculate its economic value. This can be done by working with a dental broker. When you work with Professional Practice Sales, we’ll look at an exhaustive list including finances, patient mix, service mix, office design, and more to gain a thorough understanding of your practice and give you an accurate valuation.
Your Marketing Plan
At Professional Practice Sales, we’re proud to offer highly effective and appealing marketing plans tailored to each individual practice. This typically results in you meeting with potential buyers shortly after working with us. Our marketing plan often gives you the freedom to choose between multiple candidates to find the one you feel is the best fit to take over your practice. After listing, most of our clients are able to sell within 90 to 120 days.
Deciding to sell your practice is a monumental decision in your career and should only be done with guidance from a trained professional. One thing is for sure: there will always be a market for dental practices for sale, and Professional Practice Sales can help you sell yours when the time is right. Feel free to reach out to us with any questions about the process.
