Before selling your practice there are numerous factors to consider. In addition to determining your practice’s value, marketing to potential buyers, and maintaining the growth of your business, you should also include renovating your office. A well-designed office that looks modern, well-maintained, and organized will be far more attractive to patients and potential buyers than a dingy, dark office. A well-designed office makes patients feel more comfortable and will help you get a better asking price for your practice. This is because a new owner won’t have to worry about stepping in and taking on significant capital expenses to refine its appearance. Further, potential acquirers won’t be able to leverage your outdated facility or equipment against you to negotiate a low-ball offer. Fortunately, enhancing the appearance of your office doesn’t require making large capital expenditures or a complete remodel. Here are some examples of the many best dental practice renovations to make before selling, which suit a variety of budgets.
Poor lighting can make even the most modern and well-kempt areas look dingy and unprofessional. As such, lighting is one of the most important aspects to consider when planning an office remodel. Proper lighting is especially important in treatment rooms and lab spaces. Poor lighting can impact the performance of staff and lead to ineffective treatment and evaluation due to lack of visibility. Poor or inconsistent lighting may also lead to a lack of clarity when taking dental photographs. As such, dental practice owners should aspire to have balanced lighting throughout their entire office. To foster optimal lighting in your office, use a color meter to measure the area’s lighting. The ideal reading for a dental office is typically around 5500 K with a 100 percent color rendering index.
Apply a fresh coat of paint
Inexpensive cosmetic updates such as a fresh coat of paint can make a big difference in the overall appearance of your office. Rather than a dark, gloomy color, consider switching to a brighter and lighter shade. It will make your office look more open and appealing to patients as well as potential acquirers.
Another cosmetic change that you can make to your office is updating your flooring. Dull, stained, and outdated flooring can negatively impact the appearance of your office and you should replace it. Carpet is typically ideal for waiting rooms and private office spaces as it absorbs sound and is comfortable to stand on. For treatment areas, durable options such as hardwood, laminate, and ceramic tile flooring are common options to consider when upgrading your dental office.
Focus on the reception area
While waiting for their appointment to begin, patients will typically have plenty of time to look around your office. As such, it is imperative that your reception area gives them a good impression of your practice and makes them feel comfortable before receiving their treatment. Consider placing bathroom doors away from seating areas, hanging artwork that features calming landscapes, and not facing the reception desk directly toward the seating area. You may also consider adding a small children’s play area to help reduce their anxiety while waiting and improve their overall experience.
Seating in the dental examination and waiting area are integral to the overall comfort of patients. As such, you should consider upgrading your seats to softer, more comfortable versions when renovating your practice. After all, laying down with your mouth open while someone pokes around is uncomfortable enough without adding hard, stiff seating to the mix. In addition to the comfort of the seat itself, you should also consider the location of the seat. If your patients sit directly next to loud equipment or strange odors, this will likely dampen their experience. Instead, place them in quiet areas with a pleasant ambiance to the best of your ability.
While purchasing new dental equipment is undeniably expensive, choosing to cut costs by utilizing outdated equipment could end up costing you in the long run. If your equipment fails, you may have to wait an entire day before tech service can get your practice back up and running. During this time, you will likely have to cancel appointments which damages your bottom line and your practice’s reputation. It will inevitably impact the asking price you will receive when selling your practice. As such, it is incredibly important to keep your equipment up to date.
If you don’t have the budget to invest in completely new equipment, consider a partial upgrade. For example, you could replace your air compressor while utilizing your exiting cabinets or upgrade your mechanical systems while keeping your existing chairs. Depending on the most pressing needs of your office, partial upgrades can greatly improve the safety, appearance, productivity, and selling price of your practice.
Improve curb appeal
The exterior of your office is the first thing potential patients and buyers will see when visiting your office. To get them interested in purchasing or enlisting the services of your practice, it is important to make a good first impression. To do so, make sure that your building remains in good shape. You can ensure this by regularly tending to plants and landscaping, removing litter from the premises, and maintaining your parking lot. Further, to make sure people can easily find your office, it is crucial to focus on providing clear signage. At the very least, prominently display street numbers and the name of the practice.
If you are looking to sell your dental practice, consider enlisting the services of Henry Schein Dental Practice Transitions. As the leader in dental practice transition planning, sales, and buyer representation, you can trust us to provide hands-on expertise and knowledge. We strive to make your transition a success. If you are looking to put your dental practice up for sale in California, Florida, New York, Connecticut, New Jersey, Georgia, or several other U.S. locations, we can help. Our team will help you get the best deal possible. For more information regarding our services, contact us today.