So, you've decided that you might want to sell your practice... But how long will it take? A week? A month? 6 months? Maybe a year? The truth is - the right answer is: It depends.
That's where we can help because we know what buyers are looking for. We can help you present your practice in the best possible light to prospective buyers and, if you're not in a rush to sell, we can show you the opportunities you have in your practice to increase the value of your practice, as well as show you how to realize that increased value. To start, here's what you need to do:
First, assess your readiness to sell. You have 100% control over this because only you can decide if "now" is the right time to move on to a different stage in your life.
Next, you need to accurately assess the market readiness of your practice. This surprises a lot of dentists because they think that in order to sell, they need the most up-to-date equipment or technology. In reality, a successful sale will depend more on balancing the kind of practice you're offering with the buyer’s needs. The last thing you want to do is start spending money on renovating or changing your office unless you’ve already determined that market conditions require it. Most dentists who are busy in day-to-day operations have no idea what a prospective buyer really wants.
Last, if in the eyes of a prospective buyer, there are roadblocks and problems, can these be eliminated economically and is the extra time/expense justified to "fix" the problem?
All of these are things that we can help with.
Of course, you could just list the practice for sale or sell it to an associate. And, if the price is agreeable, that is a perfectly viable option. But, in almost every post-sale I've looked at, the seller has left tens of thousands (a few have left hundreds of thousands) of dollars behind in their practices.
But when you talk to a dental practice broker, you gain the expertise of someone that had negotiated multiple deals and has seen where value can be freed up with minimal expense. This is not only good for the seller, but also particularly good for the buyer because they will gain for years to come. Additionally, with a broker in your corner, the practice can be sold faster - usually within 6 to 9 months.
If you're thinking of selling, give us a call. A short 30-minute conversation could reveal hundreds of thousands of dollars in value you had never considered. Call us at 703.298.1690 or click NOW. There’s no cost or obligation to find out if we can be a good fit!