Time, experience, talent, and connections with other professionals are what it takes to Sell Dental Practice in California. That requires an experienced team of brokers, accountants, marketing personnel, and lawyers. A dentist needs to focus on maintaining the reputation, clientele, and value of the practice, so trying to sell a practice as well will be frustrating, stressful, and take longer than expected. The process can begin with a free practice valuation so the dentist knows the value of the practice. That will help determine a selling price.
A valuation can be based on several factors, such as the location, years in business, type of dentistry practiced, the size, and the condition of the equipment. The income from the past five years is reviewed, as well as the current clientele, the level of expertise of the support staff, and the image of the practice. Other factors considered include whether the practice is in a facility, a stand-alone building, or a medical complex, the parking situation, and the vicinity to public transportation. A modern practice in the center of a big city will have a higher listing price than an older rural office. The practice may be listed for several months, so keep that in mind if planning to retire or relocate by a certain date.
There are a few things a dentist can do to raise the value of the practice before selling it. Updating equipment, services, and technology will raise the value. A comfortable atmosphere with large screen televisions and open bays, for example, will have more value than a practice with individual offices and simple furniture. Renovating the reception area will help raise the value. Bright colors, a large area with fun activities especially for children, and accessible coffee or soft drinks make patients feel welcomed. Resources to educate patients, programs to encourage proper oral health, and an interactive website can also help. Dentists wishing to Sell Dental Practice in California can go to website to begin the process, ask questions, or set up a free evaluation of the practice. Other information available includes present listings, articles, references, and a complete description of all services offered.
