Dentists who decide to sell their practices must find a suitable broker to handle the transaction from beginning to end. Some will sell in order to retire, others may want to relocate, or join a practice that specializes in a different kind of dentistry. A family dentist, for example, who wants to focus on reconstruction dentistry, may sell the practice to learn from an experienced reconstruction dentist. Whatever the reason, most dentists do not know what their practice is worth. They know their patients, what the annual income has been, and what they have put into it, but do not know how that all translates into an asking price.
A regular commercial real estate agent, or a broker, may not know either. The best brokers to handle dental practice sales in California, are ones who are, or have been dentists themselves. They have unique qualifications that make them perfect for situation. They can answer questions regarding the process, know how to market the practice, and help the dentist decide upon a fair asking price. The former dentists work along side partners, such as lawyers and accountants, to provide comprehensive services to the dentist looking to sell the practice. Things taken into consideration when coming up with the initial pricing for the practice include the size of the current patient base, the last five years of revenue, and the age of the equipment and technology.
The terms of dental practice sales in California can be more flexible when working with dentists. The selling dentist may want to remain practicing at that location for a year or two on a part-time basis. The dentist may be anticipating retirement in three to five years, for example, and prefers to take on a new dentist at first. The new dentist can get to know the patients, build up the practice, and then purchase it later. Finding a match for the practice is almost as important as getting it sold. Those interested in learning about the process, can go to WesternPracticeSales.com for an initial consultation, to inquire about the current market situation, or place their practice up for sale.
