Sell A Dental Practice

Putting your dental practice up for sale is much more complicated than you may think. In addition to the myriad of legal paperwork, brokering the sale, and setting the right price, you also need to consider your staff members and patients who will all be affected by the upcoming change.

Fortunately, CTC National is here to guide you through all of your dental transition needs, including placing your dental business for sale.

How To Sell Your Dental Practice

Below is a brief outline detailing the steps you’ll need to take in order to successfully sell your dental practice:

• Initial Consultation – During your initial consultation, our dental consultants will gather information about your dental practice and your sales goals. We’ll also discuss your timeline and any other special circumstances our consultants should be aware of. We’ll also look over your financial statements and evaluate patient flow to get a better feel for your practice’s acquisition potential.
• Practice Valuation – Next, we’ll go over the accurate value of your dental practice. We know this can be emotional, and sometimes your practice will be worth more to you than it may actually be in the real world. It’s important to us that everyone is happy with the sale price. Your practice will be evaluated on location, assets, competition, prices, reputation, and goodwill, among other things.
• Market Value Analysis – Once we have an idea of the worth of your dental practice, we’ll discuss your options as well as the current market conditions. During this stage, we’ll talk about pre-sales, equity partners, mergers, associates, etc.
• Creating a Plan Of Action – CTC National is able to help you design a unique and targeted plan of action based on your goals and the value of your practice. This will include target dates and seller portfolios.
• Evaluating Prospects – Once you find dentists who are interested in buying your dental practice, we’ll help you review their goals and personality as well as their financing potential, so that you can make the best decision for your practice.
• Create a Transition Plan – Once we’ve found a good buyer for your practice, we’ll work with them to work out financing and to make sure everyone is aware of their responsibilities throughout the process. Now is also the time we’ll bring in attorneys and accountants to help prepare for the transition.
• Closing & Completion – Lastly, we’ll be there with you as well as the buyer, accountants, attorneys, etc. to review all the transition paperwork and to sign agreements, contracts, financial statements, and any other documentation.

If you’d like more information about how to begin putting your dental practice up for sale, please contact CTC National today. We’d be happy to evaluate your dental practice and make appropriate recommendations.