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Recommendations for Selling Your Dental Practice

Dentist discusses selling dental practice

By David Haynes, MBA, Vice President of National Practice Sales

In today’s market, dental practice owners face unique challenges and opportunities when selling their practices. To prepare yourself for a successful practice sale, here are my top four recommendations for selling your dental practice:

Avoid Large Expenditures

If you’re selling your practice in the near future, avoid large capital expenditures such as new equipment. You shouldn’t be doing major upgrades before selling your practice, as you likely won’t extract that value in the practice sale.

Consider Minor Improvements

Instead, focus on making minor improvements to your practice. For example, you could upgrade your digital equipment, repaint your office or install new lighting fixtures.

Improve Your Online Presence

You should have a modern website that is easy to navigate. Consider adding features such as the ability to book appointments or pay invoices online. You should also look at your Google and Facebook reviews; having many high ratings will enable you to attract more new patients.

Keep Production High

You should maintain high production until the day your practice sale is finalized. If a practice shows it is in decline, you will find selling it to be a more challenging process. Buyers and their lenders like to see practices that have steady or increasing trend lines.

For a successful practice transition, you should sell while you’re on top. If you’re considering selling in the near future, contact our team to discuss the timing of your sale, what type of investments you should be making now and how to proceed in putting your practice on the market.

To learn more about the timing of your practice sale, please watch the following video: