The decision is made – you are ready to transition out of your dental practice! You have spent years working on growing your practice and making it the best it can be. There have been ups and downs over the years, but this has been a major focus of yours day in and day out and you are now ready to move on. You are probably thinking that now you can relax a little bit – NOT YET!
Now more than ever, it is important to concentrate on keeping production numbers up. This is not the time to sit back and coast until the practice is sold. Once the practice is listed, anyone interested in purchasing your dental practice will want to see steady on steadily growing production. They want to feel confident that they are purchasing a successful dental practice, not a declining one. In addition, without knowing how long it will take to sell your dental practice, you will also want to continue to have strong numbers so your profit margin remains where it should be and you are continuing to reap the benefits of a strong practice.
When the asking price of your practice is determined by your broker, both the past and current numbers will play a big part in that determination. With strong production/collection numbers and a solid patient base, you will be able to realize the maximum value of the long-term investment you have made.
For more information, email Ellen Dorner or call her at (800) 772-1065.