Dental Practice Seller Services

1. Selling Your Dental Practice

2. Selling your dental practice can be a complex and rewarding process. You can maximize your return and ensure a smooth transition by understanding the intricacies of the dental practice sale market. Hemmen & Associates has offered accounting and practice management services to the dental profession since 1964. Sell a dental practice is easier by seeking assistance from Hemmen & Associates. Our team provides complete and accurate practice information. With extensive industry experience, we offer expert guidance on valuation, marketing, negotiations, and legal considerations. Our personalized approach maximizes the value of your practice and ensures a seamless handover to new ownership.

3. Why Sell Your Dental Practice? Retirement Change of Career Relocation You may be ready to enjoy You may be looking for a new You might be moving to a the fruits of your labor after challenge or a different kind new location and not wanting years of dedication to your of work-life balance. to start a new practice from practice. scratch. Health Concerns You may be experiencing health issues that make it difficult to continue practicing.

4. The Dental Practice Selling Process Preparation 1 Gather financial records, assess your practice's value, and create a comprehensive business plan. Marketing 2 Promote your practice to potential buyers through various channels, such as online platforms and professional networks. Negotiation 3 Engage in discussions with potential buyers to reach a mutually agreeable sale price and terms. Closing 4 Finalize the transaction with legal documents, transfer ownership, and ensure a smooth handover of the practice.

5. Preparing Your Dental Practice for Sale Financial Records Practice Management 1 2 Organize your financial statements, tax Streamline your systems, procedures, and returns, and patient records to showcase the staff training to demonstrate efficiency and practice's profitability and stability. ease of transition. Equipment Inventory Patient Database 3 4 Maintain up-to-date records of your Ensure your patient records are compliant equipment, including its age, condition, and with privacy regulations and easily accessible maintenance history. for the new owner.

6. Valuing Your Dental Practice Income Approach Based on the practice's projected future earnings. Market Approach Compares the practice to similar practices that have recently sold. Asset Approach Considers the value of the practice's assets, such as equipment and inventory.

7. Finding the Right Buyer Professional Networks Online Marketplaces Direct Outreach Connect with other dentists, Utilize specialized online Reach out to dentists in your brokers, and industry platforms that facilitate dental area who may be interested in organizations to find potential practice sales. expanding or relocating their buyers. practice.

8. Negotiating the Sale Terms and Conditions Discuss the purchase price, payment terms, transition period, and any contingencies. Legal Documentation Work with attorneys to ensure the sale agreement is comprehensive and protects both parties. Due Diligence Allow the buyer to review your financial records, patient database, and practice operations.

9. Closing the Dental Practice Sale Transfer of Ownership Complete the legal Transition Support Payment and Settlement Receive the Congratulations! Provide training and Celebrate the guidance to the new successful sale of your paperwork to transfer agreed-upon purchase owner during the dental practice. ownership of the price and finalize the transition period. practice to the buyer. financial settlement.

10. Thanks