Navigating Dental Practice Sales: A Guide for Sellers and Buyers
Colleagues whom you’ll meet in the practice transition community (the community of professionals who assist dentists with selling or buying a dental practice) will tell you that the dental practice sales process is a thrilling yet complicated endeavor, one that can be successful if you come well-prepared and do some forward-thinking and insightful planning. Whether you are a seller wanting to retire or a buyer who wants to expand your career, knowing the critical steps can mean the difference between a good and not so good result. For Sellers: Preparing Your Practice for Sale When selling a dental practice there’s more to it than simply identifying a buyer. It means trying to make your practice as attractive as you can. Assess Practice Value: Beginning with a professional practice valuation that considers elements such as patient base, revenue, equipment and goodwill. This step will help you establish a reasonable asking price. Maintain Records: Organized financial, legal, and operat...