| Top Ten Questions about Selling Your Dental Practice | |
TOP TEN THINGS YOU NEED TO KNOW AND MUST DO BEFORE YOU SELL YOUR DENTAL PRACTICE
Here are the most important issues that MUST be asked and answered to preserve practice equity, avoid unnecessary stress, give your transition a fair chance of being successful, avoid wasting valuable productive years, and prevent financial disaster for both OWNERS and PURCHASERS.
You need to know BEFORE you search for the right purchaser:
| 1. |
What stage is your practice in--Initial Stage, Expansion Stage, or Exit Transition Stage? |
| 2. |
When is your target retirement date; when do you want to lay down the handpiece? Are these two separate dates? |
| 3. |
Which production center of your practice has the most influence on its value? |
| 4. |
What is the practice's yearly production, and exactly what procedures contribute to this yearly income? |
| 5. |
What is the real % overhead for the practice? If your consultant told you that you could increase the true net by space sharing or merging with another dentist, how will this effect your transition plans? |
| 6. |
What are the US dental demographics and local patient demographics? |
| 7. |
When should you get more than a "Brokers Proforma"? How does it differ from an appraisal? |
| 8. |
What determines your compensation package initially and a year following the sale? |
9.
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Should you bring in an associate, and, if so, when? |
| 10. |
What factor has the most influence on the price: net, location, equipment, sell date or staff? |
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