5 Tips to Selling Your Dental Practice at a Good Value

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5 Tips to Selling Your Dental Practice at a Good
Value
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Dental Practice

• Youve worked hard for years to establish your
  dental practice. Now that youre considering to
  sell it, theres no way you can take the process
  lightly.
• Selling your dental office takes as much work,
  and perhaps even more, as starting it. You need
  to be sure you will earn a decent amount and at
  the same time ensure that your dental clinic will
  continue to operate as usual.

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• Here are tips to take note of before putting up
  that for sale
• sign on your dental office.

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Start with your Plans Early

• This is going to be a big decision. So before you
  sell your nest eggs, ask yourself whether you are
  ready for its consequences or aftermath.
• You may have to downsize your assets or live a
  more modest lifestyle. Either way, you have to be
  wiser now more than ever how youre managing your
  finances, both on short term and long term basis.
  

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Dont Broadcast your Intention just yet

• You dont want to startle your employees or
  clients nor do you want to compromise business
  operations. Wait for the right moment before
  breaking the news to everyone in the office.
  Until you are sure youre selling the practice,
  keep your plans off the radar.
• If anything, once you already have found dental
  transition professionals, this phase should be
  more manageable. Youll be able to handle client
  and employee inquiries as well as calls from
  interested buyers, all while ensuring that
  operations are running as usual. This takes us to
  our next tip that is to find reliable dental
  practice sales partners.

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Partner with Experts on Dental Practice Sales

• Not all dental practice owners are skilled in
  business management so youll want to call in
  experts that can help you out. Dental practice
  sales professionals will help ensure that your
  clinic is sold at your own terms.
• They will take care of listing your practice and
  finding qualified potential buyers. Theyll also
  assist you in completing necessary paperworks and
  all legal requirements while keeping costs at a
  minimum, for you and your buyer. Most important,
  they will also be able to represent you to
  ensure a smooth sale and transition process.

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Ensure your Equipment and Facilities are Updated

• Reduce tendencies of buyers coming up to you with
  a low-ball offer. You dont have to make
  extravagant purchases just before selling your
  dental practice, but youll want to make
  necessary improvements to ensure that your assets
  are updated.
• This way, youll also be able to command a good
  price for your practice. Buyers will be more
  willing to pay for they see that the office is
  well taken care of and that drastic changes or
  repairs are no longer necessary before they can
  take over.

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Set Realistic Expectations

• Talk to professionals about the sale profit you
  can expect from selling your dental practice.
  This will also help you prepare further should
  you need to look for additional funding to
  support your daily needs.
• Note that you will still have to look into
  deductions such as taxes before you can realize
  your actual earnings.

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Check these Out!

• Take note of these tips before selling your
  dental clinic. Remember its always best to work
  with a professional if you are unsure how to go
  about your business plans. Dental practice sales
  experts will be there for you every step of the
  way, as youre planning the sale to when you're
  turning it over to its new owners.
• Brought to you by Practice Solutions dental
  practice for sale . Practice Solutions provides
  dental industry consultancy, specializing in the
  brokerage, valuation and management of dental
  practices in Canada.