Dental Practice Lifecycle: Sale of Practice & Retirement
After the start-up and acquisition phase and years of hard work growing your own dental Practice, you may be ready to hang up the gloves and retire but are not sure where to start.
The answer is to build a plan that starts years before you actually plan to retire or sell. Having this conversation with your Practice advisory team in advance allows us the opportunity to guide you to that point and help achieve the maximum results for you and your Practice.
During this pre-retirement/sale time we find and develop answers for the hard questions like “What’s my Practice really worth?” and “How much cash will I receive from the sale?” Using the answers to these questions we review options and prepare a plan to guide you to your best outcome.
Our Capital Advisors team has the ability to provide sell side representation to Practice owners in order to focus on finding qualified buyers. Over the years we have developed a process that allows us to find our clients the “right buyer” that may otherwise not have been found. This “right buyer” is the one who sees the most value in your Practice and is able to provide you, the seller, with the right offer.
Remember – the end of your dental Practice lifecycle is the beginning of the next generation’s lifecycle!
Continue checking back for our continuing dental blog series. Over the next few months, we will address subjects such as buying a dental practice, profit & loss statement explanation, and how sales tax impacts dentists, along with many other informative topics.