Tips to Avoid Common Mistakes in a Dental Practice Sale

1. Tips to Avoid Common MistakesIn A Dental Practice Sale

2. Dental Practice Sale • Selling a dental practice isn’t simple. It takes careful planning and close coordination with professionals to ensure that the sale goes smoothly. • If you’re thinking of selling your dental office soon, be sure to seek advice from consultants, brokerage specialists, lawyers, and accountants.

3. Here are some Tips to Avoid Common Mistakes in a Dental Practice Sale

4. Think About Your Plans After the Sale • Do you want to remain an employee of your practice? Will you still need an active source of income? Do you, perhaps, have plans of applying in another dental office? • Be firm about your plans after selling the practice. Be clear on how long you want to remain an employee and remember that you can’t be around for too long. • If you’re not yet ready to separate from your practice, then it may not be time yet for a sale.

5. Consider Your Retirement Plans • You probably are excited about the thought of retiring. But, are your finances ready, too? Talk to your accounts or financial consultants to see if you have enough to retire comfortably. • You don’t want to put your dental practice for sale, have people come over and spend money and time, only to find out in the end that you aren’t ready yet. • Evaluate your financial standing before you go into selling your dental practice.

6. Meet And Work With Your Potential Buyer • Take the time to meet and work with them. As much as possible, spend at least a year with them. • Make it clear with them onset about your future plans of selling the practice and if they’re interested in taking over. • Find out if your styles and principles match. Avoid giving your employees and patients a hard time because of your misunderstandings. Avoid the need to go into costly legal disputes.

7. Advise Buyers You’re Working With Industry Professionals • Ask your buyers, too, if they’re seeking expert advice from someone. It’s important to be upfront and honest during a dental practice sale. • And that goes for both you and potential buyers. Before formalizing any agreement, answer any concerns or questions each camp has. • Take measures to protect your interests and be sure your potential buyers also do this for themselves.

8. Check These Out! • Practice Solutions provides dental industry consultancy, specializing in the brokerage, valuation and management of dental practices in Canada. • We are committed to the success of our clients and aims to build long term relationships with them. We work with our clients to help make their dental practice a success. • For more info on dental practice for sale alberta Check out: https://practicesolutionscanada.ca