More dentists have chosen to retire or sell their practices with the aftereffects of CoVid 19 and changes in practice protocols. There are usually no likely specific rules that apply to every seller, but you may want to consider thinking out of the box to have a successful dental transition. Being receptive to more creative solutions will make your transition not just worthwhile but easier. Here is how:
Be Adaptable To Terms
Unlike pre-Covid 19 practice sales, now you must be more adaptable to deals and accept some of the terms that accompany such sales. However, this largely depends on individual dental practices. For example, while some dental practice sellers can quickly close, others offer that work-back support, which can be quite favorable to the buyer.
Again in the traditional sense of the word, 100% upfront payment worked so much better during pre-Covid. Now it is a different story altogether. You may have agreed to some holdbacks as long as every transaction aims at mitigating risk while also proving the long-term value of the particular dental practice.
Keep Scouting For Other Opportunities
Although you are retiring from a dental practice, you do not have to shelve your dreams. If it is your passion, there are other options to keep your hand in dentistry. If there is a dental school in your area, you may apply there as a teacher or a different possible position. Still, you can also arrange to remain as an associate practitioner in the practice you are selling. All you need to do at this point is to forge a clear career path for achieving your personal and professional aspirations.
In brief, these are strange times. It would do you good to be as flexible as possible as you sell your practice. As always, it is best to consult with your professional experts to discuss all of your options.