The decision to sell a dental practice is not a simple or easy one. Chances are, you have struggled and wrestled with this decision but have finally reached the conclusion that it is time to sell your practice. When you do reach this decision, understand that it is important to hire a professional broker who can help you along the way. Don’t try to sell your practice alone. A good dental broker will be able to help you get the best deal when it comes to selling your dental practice.
Tip 1: Contact Local Dental Transitions Specialists.
Do you have a specialist in mind? Contact him immediately to talk about your options when it comes to selling your dental practice. Even if you have someone in mind get in the habit of researching other local specialist. Contact each one that looks who understands what you’re going through, what you need help with and you can assist you with your specific situation. If they are familiar with your situation then set up a time to meet to discuss in more detail your plans.
Tip 2: Have a List of Questions Ready.
When you hire someone to help you sell your practice, make sure you have a list of questions handy. For example:
- Would it be best to hire a partner for your practice?
- Should you sell your practice outright?
- How can you make sure that your current clients are taken care of completely?
- How much can you expect to earn from selling your practice?
These questions are a fantastic starting point so make sure you ask them up front. This will give you a better understanding about which specialist knows their stuff. Take good notes and don’t be afraid to cross check their answers with other specialists.
Tip 3: Review Past Clients your Professional has Helped.
Nothing is worse than getting an less experienced transition specialist. You will want to hire someone who has worked with a variety of clients before and who understands the ins and outs of selling a dental practice. Make sure that your specific specialist has successfully helped others before you. It is not uncommon or unexpected for you to request references from previous clients before you hire someone. Make sure that you do follow through with phone calls or emails to the clients. Ask questions about working with the agent, whether the client felt the transition specialist did a good job and whether they would recommend him to you.
Remember, the most important part about selling your dental practice is to know what you want and to find a way to make it happen. Set reasonable goals and openly discuss these with your transition specialist. Do your own research when it comes to hiring someone to assist you to make sure you get the best possible deal and have the most pleasant experience possible when selling your personal dental practice.