Location, Location, Location…

One of the most important factors that impacts your practice’s value is your location. As baby boomers approach retirement, more Gen Xer’s have the purchasing power. Based on studies, the majority of recent dental school graduates have a desire to practice in urban and suburban areas. According to surveys, practice values continue to remain at record levels with many urban areas that are considered “highly desirable.”

If your practice is located in a rural area, the demand may not be as high. However, there are still many ways to improve your practice’s value. The dental practice location is comprised of not only the actual address but the demographics and population trends of the area. As the current owner, it is important for you to keep on top of changes surrounding your dental practice location so that you can take advantage of any growth opportunities.