The pandemic’s impact on the dental industry and business as a whole has been severe, but it has revealed some unexpected opportunities for many dental practices. You’re most likely well into the recovery of your practice because of one simple truth…people need dental care. That fortunate fact means your profits, while taking a hit in 2020, are on track for a rebound in 2021. So, what does this mean for dentists thinking about whether or not it’s time to sell their practice? It means now may be the time you’ve been waiting for, especially if transitioning has been on your mind.
The pandemic was a trial by fire. But, many practices emerged from it with a greater potential for profitability. For others, the pre-pandemic trend within the industry of consolidation, plus the burden of reduced revenue and increased overhead expenses due to the pandemic, has them looking into the possibility of cashing out and selling their practice.
As a result, the pandemic has encouraged, if not created, opportunities for both buying and selling a practice. A recent article in Dentistry Today explains why dental practices are viewed as a valuable opportunity.
“…Investors consider dentistry a “recession-proof” business for good reason. It’s not possible to defer dental services forever.”
People need dental care and that means there will always be a demand for dental practices. The pandemic only made that fact painfully obvious and in doing so, created a post-pandemic opportunity for sellers.
For more insight into whether now is the right time for you to buy or sell a practice, contact an ADS Transitions broker today. From valuations to successful transitions, they are ready to discuss how you can benefit the most in your current situation in order to achieve your end goals.
This entry was posted on Tuesday, May 25th, 2021 by ADS Transitions and is filed under