Definition of Stress– “Acute or extreme pain or anxiety, the state of extreme necessity or misfortune, to complete pain or force of circumstance.” A dental practice sale during a time of distress is never easy or pleasant. It is laced with many difficult but related issues, i.e., maintain staff, maintaining productivity, and maintaining practice value….Read More→
Tag: md dental practice transitions
Six Things To Consider When Selling Your Dental Practice
LOCATION When a potential buyer is looking to purchase a dental practice, the physical location is one of the first considerations. The dental practice location is comprised of not only the actual address but the demographics and population trends of the area. Your dental practice is strongly affected by changes in the area, whether it…Read More→
When Should I Begin Planning To Transition Out Of My Practice?
The first steps begin by recognizing and acknowledging a time frame of transitioning. This may be driven by desire or the need to retire. Often, dentists fear the transition process and view it as the end of their best years. Transitioning out of your dental practice is not the end, it’s the beginning. The ultimate…Read More→
What’s Involved in the Dental Transition Process? Part II
Work with your Dental Practice Broker Choose a broker that represents YOU. It is important that your broker does only single representation. A broker cannot fairly represent both parties when each party has different goals, i.e. the seller wanting to realize the most net profit out of the practice…Read More→
What’s Involved in the Dental Transition Process? Part 1
Be Ready To Transition The most common reason dentists decide to transition is because they are ready to retire. Whether or not this is your reason, you should begin the planning process three to five years before your target retirement date. Divorcing emotional attachment will help you make smart decisions and be ready to make…Read More→