Dentists The Wrong Tactics Will Prove Costly

Dentists: The Wrong Tactics Will Prove Costly! 

Here are 4 absolute key considerations that you should be thinking about when selling your dental practice: 

1. Start early. 

Selling a practice doesn’t happen overnight. It is a process that can take years so if you are looking at getting out in the next 12 months or so, you need to start the process now! 

2. Have realistic expectations of what you are worth. 

Throw away any inflated ideas of what you think you ‘know’ you are worth. There are so many factors to consider…

I will give you just one example, a dentist who is 55-65 and close to retiring will more than likely be servicing the same demographic of patients. Putting it bluntly, older patients are depreciating assets and that means there could be a sizeable gap between the paper worth of your practice and what a buyer is actually willing to pay for it. 

3. Keep your essential equipment and facilities up to date. 

An excellent way to maximise your value to have it so the new owner can step in without having to incur significant costs replacing equipment or updating the premises. 

If you don’t do this, you leave yourself open in sale negotiations for potential buyers to come in with low-ball offers on the claim that equipment and facilities are not up to date.

Don’t unwittingly lose cash ignoring points such as number 3 during negotiations with potential buyers. Download our eBook here to learn about 9 more key factors you must be aware of during negotiations to ensure that you don’t end up accepting less than a premium offer for your dental practice.  

4. A sale doesn’t necessarily mean it’s the end! 

Staying on after the sale has completed in a temporary part time role, ensures continuity for your patients and staff. 

If you plan to disappear straight afterwards so could they, which would immediately diminish your value and could prove costly for you! 

So if you are ready to start serious negotiations for the sale of your dental practice here are 3 ways I can help: 

Download our FREE guide to the 9 Keys Steps to Stop Losing Cash in Your Dental practice sale negotiations. This includes the five best proven tactics for success and you can read about them by clicking here. 

Speak to a member of our highly trained team who can give you a realistic valuation on your Dental practice by clicking here.

And if you want to be introduced to some of the top Dental practice acquirers in the country then reply to this email with the word ‘Guild’ and I will see if I can help! 

Best wishes, 

Kimberley Hagues

PS. It only takes 2 treacherous traps to destroy successful negotiations when selling your Dental practice. Find out what they are now by downloading our eBook here.