There are few decisions larger in your professional life than selling the dental practice you have worked tirelessly to develop. Your reputation, staff, and patients are all at risk in the sale of your practice. This decision can be very overwhelming and cause great stress in the transition process.
Luckily, for those looking to sell their dental practice, there is a simple solution that will reduce anxiety and provide a smooth sale: working with a transition partner. This expert will help you evaluate the value of your practice, find the right buyer, understand terms of sale, and transition your staff and patients.
Having a transition partner in the early stages of selling your office offers a tremendous amount of support. These partners deal with buying and selling practices every day, giving them a useful familiarity with the market.
They’ll use this niche knowledge to explain the valuation process and help you compare the value of your company with competitors in the area. Being aware of your value and that of others in the area will give you an advantage when negotiations begin.
The Right Buyer
As mentioned, there is a lot at stake when you sell your practice. It isn’t as simple as posting a listing online. Your reputation and staff’s livelihood depend on a smooth transition and finding the right successor.
An experienced partner will be able to find and evaluate potential buyers to help you discern the optimal candidate for your practice. This assistance will ensure that you don’t have an unqualified contender purchasing your company and who will later run it into the ground.
Understanding the Deal
Transitioning a practice is a complicated process with intricacies and unique nuances. An expert can help you establish the terms you want to be specified in the contract to protect your staff and clientele. Likewise, your transition partner can explain the contract and requirements the buyer may have, maintaining continuous transparency.
It’s common for the seller to declare a timeline in order to guarantee minimal patient and employee turnover. An transition specialist will make sure your desired timeframe and needs are met and provide communication between both parties.
Handling your patients and staff during a transition is a very delicate, unique process. It helps to have someone by your side that has extensive experience with dental transitions. They will advise you on how to discuss the changes with your patients and staff, incorporating the new dentist into your practice, and effectively implementing any upcoming changes.
Consult a transition partner, and let them help you protect your clients, your staff, and your reputation. US Dental Transitions was founded by a dentist with more than 25 years of experience, so we truly understand the complex, emotional and financial ramifications of perhaps the biggest change in the life of a practitioner. If you intend to continue your legacy by selling to a dentist who will honor your desire to care for your patients and staff, we’re confident we can connect you with a buyer that can meet your selling criteria.
Contact us at 678-482-7305 or info@goUSDT.com. Any information we share will be kept in the utmost confidence.