Have you talked to your CPA about it? There may be some things you are unaware of when selling or some things you haven’t thought about that need done before your practice is sold.
What to Consider When Selling Your Dental Practice
Is the buyer qualified? It is important to verify that any buyers are qualified before talking to them about purchasing your dental practice. The buyer may not have been approved by the bank or they could be waiting for approval.
Is your equipment up-to-date? If you are selling now or in five years, you may want to consider purchasing new equipment. If your equipment is outdated, it might make your dental practice less attractive for buying.
Start cleaning and getting your practice ready to be purchased. Have old files lying around? What about old equipment hiding in a storage room? Get rid of things that are no longer needed and organize things that are so they can be easily found.
Be realistic about the price of your dental practice. If you are unsure about the true price of your dental practice, contact your CPA. They can help you figure it out and make sure you are getting the best value for your practice.
Help with the transition process. After you sell your practice, stick around for a few months. Help the new owner get adjusted. Introduce them to your referrals, partners, patients and staff. Get everyone comfortable with the new owner. It will make the transition smoother and keep everyone happy.
CONTACT OUR DENTAL PRACTICE PROFESSIONALS
Whether you are looking to sell now or within a few years, contact PMA Practice Transitions. Our team can work with you to determine the value of your dental practice and help you get it ready for selling.
Published by Matthew Scherer on May 25, 2018