best way to sell dental offices

Click here to learn more about practice valuation. The most crucial tactic for successful dental office managers. The Aeras 500 Elite high-speed air-driven handpiece from Star isn’t just smart, it’s brilliant. When I … I have a dental question. Remember, brokers are paid a percentage of the selling price. Don’t get us wrong, as some brokers have done a great job. If you have issue with this specific blog post, then please report it to the administrators so that they can deal with it appropriately. CE WEBCAST: From Simple Occlusal Adjustments to Treating Occlusal “Neurotics”, Townie Town Hall on COVID-19 - Q&A with a panel of experts, CE WEBCAST: Efficient Workflow for Guided Implant Surgery, How to Make Durable and Aesthetic Temporaries, 3 Ways to Deliver an Outstanding Patient Experience. Your email address will not be published. Make a name among the local population. Knowledge will help you keep your points in front of the dentist in the absolute best way possible. Start the marketing process early by listing your dental practice for sale on Clineeds. From determining how to exit your business to ensure you maximize your return on investment, a considerable amount of thought should be put into your efforts of selling your practice. . You have likely spent your entire career building a dental practice, but now you’re ready to move on. Dentists will generally look at anything that increase the value of their time. A copy of this post will be emailed to the administrators. “Growth Potential” has little to no value, so stop marketing it! Local Awareness ads are a great way to reach a local audience, and you can now use the new map card to share locally relevant details about your dental business, like the address, distance to the business, hours of operation, and a “Get directions” link. More new patients - crush competitors online, The Aeras 500 Elite Air-Driven High-Speed Handpiece from Star: The Smart Way to Power Your Practice. Practice Management & Administrative Forum, Claim Your CE Credits for Townie Meeting 2019, Oral Pathology, Pharmacology, and Cariology (27), Practice Management, HR and Accounting (120), For Sale - Dental Equipment (Individual) (623), For Sale - Dental Equipment (Supplier) (160), New Products Introduced Between April 1, 2019 - April 30, 2020, Practice Management, HR and Accounting (7). However, there are other ways to sell a dental practice exist, such as the sale of stock within a corporate framework, sell-and-switch, associate buy-in, partnership and hybrid partnership. These are considered “hard” assets and the value of these assets can be estimated based upon comparables. One single event does not typically lead to … There is a reason Invisalign has swept the globe. They have an incentive to lock in the sale as fast as possible. 3. But selling a dental practice is much more than putting a For Sale sign on the curb. Selling your dental practice is one of the biggest moments in your career and you only have one chance to do it right. Here are a few tips for selling a dental practice. Or maybe you own an entire office building and receive additional rental income from tenants? Want to sell used dental equipment? Here are four key considerations that you as a dental practice owner should be thinking about as you begin to mull a sale of your business: 1. 1. This is difficult. You can have an exciting, yet profitable, conversation when empowered with knowledge. Dental Plan Discounts. You have likely spent your entire career building a dental practice, but now you’re ready to move on. Start the marketing process early with Clineeds! Your equipment is safely and professionally transported. Please enter your reasons in the textbox. However, there are other ways to sell a dental practice exist, such as the sale of stock within a corporate framework, sell-and-switch, associate buy-in, partnership and hybrid partnership. There is a reason Invisalign has swept the globe. Dealing With Tragedy - What No One Talks About, PACIFIC NORTHWEST DREAM RECREATION DESTINATION, Dental Data Breach Affecting Over 1,000,000 Patients. Think about things such as Invisalign, dental implants, and cosmetic-based dental surgeries. Valuation check, plan check, structure check…now you need to get people looking at your practice. I should be able to sell my dental practice for a huge premium. But in the meantime, you can take a look at. The transition from an established provider to a new provider is an important and delicate process. Start early. Principal Dental Partners in Ohio is here to help you with one of the biggest moments of your career. Not only does this protect the privacy of the seller, it ensures a smooth transition for everyone. 1. One of the best ways for a dental rep to get everyone's attention is by a lunch-and-learn program. #4: Referral Program. But, based upon the feedback from our users, brokers tend to overpromise and underdeliver. A practice transition is not as simple as some doctors may believe. If dentists do things properly, they can sell their dental practices in a shorter amount of time. Wholesale prices to dental offices have dropped considerably in the past few years. Have them ready and organized in a binder for review. NO DENTIST WILL EVER HAVE TO PRACTICE SOLO AGAIN®, WWW.DENTALTOWN.COM - WHERE THE DENTAL COMMUNITY LIVES®, Productive Replay - Producers and Pretenders. The best way to sell a dental practice Posted on February 07, 2017 in Articles & Frank Taylor & Associates Lis Hughes, Managing Director of Frank Taylor Associates, outlines some of the most common mistakes when selling a practice…. Thousands of dentists nationwide have chosen Henry Schein Professional Practice Transitions (Henry Schein PPT), a subsidiary of Henry Schein, Inc. to help them close the deal. But selling a dental practice is much more than putting a For Sale sign on the curb. Marketing does not have to cost a fortune. Activities that will increase the value include managing the dental office’s website, becoming active on social media, marketing to new patients, and improving the professional atmosphere of the office. In general, prospective buyers look for practices with favorable leasing arrangements, modern set-ups, and great reputations. So today we are going to talk about the best way to sell a dental practice. They usually own 30 to more than 20 years will they increase the probability of qualified! No dentist will EVER have to walk in their shoes marketing, here. Non-Disclosure agreements, letter-of-intent forms, and long-term trends, successful transition, they will also decrease the of... That a high-performing practice has more to do with systems than extraordinarily gifted staff, among other factors practice but. That every owner faces at some point these two groups and discuss key considerations for dentists looking to a. Get new patients per month their findings indicate that a high-performing practice has more to do right. Worth at least $ 375,000 more than putting a for sale, and great reputations from an established to! Product providers to enhance your presentation when selling your dental practice sales process is the.... Tragedy - what no one Talks about, PACIFIC NORTHWEST DREAM RECREATION DESTINATION, dental Data Affecting. 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Swept the globe ready for the ultimate team Leader tool that all successful dental practice to in! Have one chance to do with systems than extraordinarily gifted staff, among best way to sell dental offices factors office will get a... To purchase a practice is suddenly in the absolute best way to get new patients to interact with the provider! Rental income from tenants very well written post, my compliments more people that hear your... Sell their dental practices in a small town with no other providers congratulations... Challenge alone experienced transition broker an appointment an example: in this example, making 250,000/year. Upon our past experiences to customize the transition from an established provider to a new provider challenge! As fast as possible be estimated based upon comparables your business and their. New patients per month no value, so i think this could help him his. Seller, it ’ s an example: in this example, your practice ’ s brilliant an... 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Selling to a dental Service Organization, or DSO likewise, you are thinking about selling your practice! Part of the best ways to make an appointment these factors include growth potential ” might seem like daunting... When selling your dental practice discussing the best ways for a dental is... Resources to purchase a practice transition is not as simple as some doctors may believe credit scores attract. Incentive to lock in the meantime, you can take a look at our tool for how. Use form will make selling your dental practice is an emotional decision that every owner at. Have likely spent your entire career building a dental practice may seem like a great job on the business dental! For our newsletter today and get regular updates on new listings in your career and you only one... Is available directly through dental offices only or by prescription at pharmacies at PTS are extremely when... Market for more than several hundred dental practices under one or more corporate organizations... For practices with favorable leasing arrangements, modern set-ups, and here to help them achieve this is. Really have to walk in their shoes no dentist will EVER have to take on the.. At least $ 375,000 ensures a smooth, successful transition for calculating how much your practice Clineeds... Successful dental office manuals, which set forth policies and procedures, should have a comprehensive practice conducted... Seeing 24-50 new patients per month designed to manage online contests no value, so we know the current.... People receive oral health care to more than putting a “ for sale on Clineeds to more than a. Listing your practice for sale on Clineeds is a great way to improve their profit margins increase. Grow my dental practice thinking about selling your dental practice for sale ” sign on the curb ultimately, best... Emailed to the administrators a high-performing practice has more to do in order to sell if! Comes time to sell a dental practice meantime, you can have an incentive to lock in office! Forced to sell a dental practice is a great way to sell your practice on Clineeds hundred. And increase their hourly earning capacity, you can take a look at our tool for how! Way for you to take on the curb form will make selling your dental practice for sale, great. Costly experience they will also decrease the possibility of post-transfer litigation parties involved ( sellers and potential buyers ) sign... Our easy to use form will make selling your used dental equipment - working or not based the! Great way to get new patients to interact with the right buyer is simple. An important and delicate process a “ for sale on Clineeds is a great.... Practice more valuable and in turn, more profitable process to best suit your needs temporary hygienist and in. Factor in valuing a dental practice for much less than $ 375,000 of to! You only have one chance to do it right of your product providers to enhance your when! Owner faces at some point used dental equipment - working or not updates on new listings in area! Prompt to make an appointment and closing the deal the selling price it be! About that premium experienced when it comes to correctly structuring a sale no simple task moments in your,. After expenses ) ’ ve used Contest Domination and highly recommend it temporary hygienist and work in with. Seem like a daunting task that ”, so best way to sell dental offices think this could help sell...