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Buying a dental practice is your most prized investment in terms of both financial cost and personal investment. Before deciding to purchase, consider these aspects to aid in your successful transition.

After years of service, and tireless hours at the office, you find your mind now takes you away from the daily grind and more into considering travel, extended time away from your medical practice. But the overhead costs !! So you begin dreaming of retirement or phasing out of practicing medicine. The problem is how do you accomplish your goal?

If you are considering selling your valuable dental practice, have already started the process but the selling isn’t happening nearly as fast as you had hoped, it’s time to reassess your situation. To secure the highest value for your dental office and years of goodwill, you need exposure to multiple buyers, and, the right circumstances that highlight your practice in the best light and elicits the intended results.

Buying a dental practice is a joyful occasion – the start of a new venture, the culmination of years of training, and the result of your significant investment in your studies and chosen career path. It is truly a milestone to be celebrated! But, to accomplish this goal, you will find yourself going through an emotional rollercoaster as you venture into the “business” side of your profession.

So, you’ve checked all boxes regarding your career. Now, with your aches and pains more noticeable, the years have taken their toll, your mind wonders to placing your dental or medical practice for sale. You are finally considering retirement, but how exactly do you place your office for sale, and who do you reach out to sell your dental/medical business in California?

To begin, the preponderance of the value of your medical practice lies in its goodwill. Simply defined for our purposes as “the probability that patients will continue returning for treatment”; and with that continuity of patronage comes continuity of income stream.

There comes the point in everyone’s career when the daily practice tasks become mundane, the business, paperwork, and now PPE requirements sap the fun from treating your patients, and thoughts fly to other places and things that give you more pleasure.

If you’re a dentist, then you must’ve thought that one day you’ll be eventually selling your entire practice. But have you considered that your practice could leave you with a hefty departing check? Many dentists use different ways to maximize their ROI at the time of selling their practice. If you’re planning to sell your practice in the near future, then continue reading as we’re about to mention key ways of making your practice valuable at the time of selling.

Attempting to sell your own dental practice after having developed, nurtured, and built it for years can be a daunting process. For that reason, many dentists turn to practice brokers in helping them transition towards retirement, relocation, and sale. So, what may be the best questions to ask a dental practice broker in order help you decide on who to select? And what should their answers be?

Like any other expert, dental practice brokers improve efficiency and allow you to sell your dental practice efficiently. There are essential sale terms to be negotiated and recorded such as transition, staff retention, letters of the announcement, collection of accounts receivables, etc.