Preparing for your practice transition requires gathering a variety of due diligence items that buyer will request to determine if your practice fits their needs. We will outline common documents that you should have prepared to demonstrate the success of your practice.
Before listing your practice, you should ensure that your finances are in order. Here are a few items you should have available to prove your profitability to potential buyers:
You would also benefit from knowing the percentage of billing needed to cover overhead costs, as well as the amount of revenue that is dependent on reimbursements from insurance companies. Buyers will likely ask about these metrics.
To continue preparing for your practice transition, you should also have the following items gathered to show a potential buyer:
Your practice sale is also dependent on your practice reputation. Practice buyers will be interested in practices that have high client satisfaction and consistently bring in new patients.
If you are looking to sell your dental practice, you will want to enlist the help of a transition broker to offer guidance and negotiate on your behalf. An experienced broker can help you sell your practice faster and for a higher price. Contact Menlo Dental Transitions to discuss your practice sale.