According to Blatchford Transitions, selling your dental practice won’t happen instantly. The process takes months or even years.
Dr. Bill Blatchford and Dr. Christina Blatchford have decades of experience in the dental world. As dental practitioners and dental coaches, the two have built a team of strong dental brokers who understand the hard questions that must be answered before the sale. Below are a few more things to consider if you are selling a dental practice.
Be Realistic When Selling a Dental Practice
If you are like most small business owners, you probably have overestimated the value of your dental practice. Especially if you are an older dentist who shares an older demographic with patients. If that is the case, the paper worth and what a buyer is going to pay could be considerably different. Never rely on potential events to fund retirement.
Keep your Facilities and Equipment Current
If you have been staying current and keeping up with continued education and new equipment, you will have a better chance of selling your dental practice. If you are out of touch with new equipment, keep a timeline and add what you need gradually. By making small improvements over time, you will stay current with hard assets.
Selling a Dental Practice Doesn’t Mean it’s Over
If you are selling a dental practice, the incoming dentist may be asked to continue working after the sale, even if it is just part time. Blatchford Transitions explains that this type of sale is common as prospective buyers often worry that patients will leave after the sale. If you are selling your dental practice, it may take some time to get used to this type of arrangement.
If you are selling a dental practice, call or click and schedule a no obligation consultation with Blatchford Transitions. Having a dental brokerage firm on your team could make the entire process much quicker.