Selling a dental practice requires extensive investments in time and a deep understanding of the dental sales market. To aid in the complicated process, many practice owners opt to work with a dental broker who can guide sellers through every step of the selling process, from initial valuing to the final closing. Dental brokers have specialized training and expericence that makes them experts in their field abd work to ensure that clients receive the highest selling price that the market will support.
Thinking of selling your dental practice? It’s a huge decision. Don’t leave your years of hard work to chance. If you partner with 1st Med Transitions, a respected and proven dental practice brokerage, you can count on less stress, higher profit, and reduced cost when selling your practice.
Why is cash flow important? Cash Flow is a practices earnings before interest, depreciation and amortization and any other personal financial add-backs that will not transfer to the new owner. Cash flow is important because it is used to determine the profitability of a practices operations. So how can this indicator make or break the sale of an practice?
Thinking about selling your practice on your own? You may want to think twice about this type of endeavor. Successfully selling a practice requires an entirely different type of skill set than practicing medicine. You may have achieved great success building your practice, mentoring associates and cementing patient relationships, but actually selling a practice is entirely different.
Congratulations! You are at the stage of your dental career where you are finally ready to sell your dental practice. Years of hard work establishing and growing your dental practice are about to pay off! Whether you are headed towards your retirement or have new career ambitions in mind, this final decision may be the most important of your professional career.
Over the years, you have invested so much into building a thriving practice---generating new patients, treating patients, managing and training staff on top of your professional education requirements. Building your practice has been one heck of a rollercoaster ride and there is no substitute for the exhilaration and satisfaction of that experience.
Deciding to sell your practice is a very important decision. Here are 10 key tips to consider prior to, during and after your sale.