FAQ Regarding The Sale Of Your Dental Practice
Selling a dental practice can be emotional and sometimes overwhelming for dentists. There are many issues to consider, and it’s important that you plenty of research before making the decision to sell. We’ve put together just a few of the most common questions from dentists who are considering selling their business.
Frequent Questions Regarding The Sale Of Your Practice
- How Do I Know If I Should Sell?
It seems too easy to just say “when you know, you know,” but in this situation, it’s true. You’re the only one who can make the final decision to tell and there’s no right answer. Before making the decision, taking into account your finances, your health, and your goals for the future.
- How Long Will It Take To Sell?
This answer depends on many variables, including the current market, your motivation to sell, and the specifics of your dental practice. Some dental practices can take up to a year to get an offer while others are sold within a month or two. We can provide you with the answer to this question once we know more about your practice.
- When Do I Tell Patients & Staff About The Sale?
We recommend saying nothing to your patients or staff about the sale until all the final paperwork has been signed. If you speak too soon, your staff may begin searching for new jobs, and your patients may start shopping around for a new dentist.
- Will It Be Costly To Sell My Practice?
The sale of your practice will cost you some money up front. Being responsible about your sale means you’ll need help from an attorney, an accountant, and a consultant or broker. Make sure to do cost comparisons before hiring a professional to ensure that you’re receiving a fair price.
If you have any further questions about selling your dental practice, or for any of your dental marketing needs, please contact Pro Dental Designs. We’ve assisted dental practices all over the country!