Dental Practice Appraisal by a professional practice broker is only the beginning of the process for a successful transaction.
There is no formula to arrive at a fair practice price when selling a dental practice. The practice price is determined after careful consideration of many factors. Getting the price right the first time can determine whether or not prospective purchasers even consider your practice. A practice that is overpriced or improperly represented quickly becomes known in the community as undesirable. This can greatly increase the time it takes for selling a dental practice.
Confidentiality is a concern of most sellers.
You want your dental practice advertised to qualified purchasers. The marketing strategy for your practice can begin to eliminate unqualified prospects for buying your dental practice, as well as control your dental practice exposure to staff, current patients, and prospective patients.
Negotiation of the purchase price and terms are best accomplished by a third party.
Most conflicts between purchasers and sellers occur over money. It is best to have a third party to negotiate the terms of the sale and actual purchase price. This eliminates the most contentious facet of the transaction of selling and buying a dental practice..
Contracts for purchase and sale, as well as accompanying documents, need to be prepared and customized for your transaction.
Henry Schein Professional Practice Transitions can provide draft agreements for your transaction. These agreements should contain the common issues of practice sales, in addition to the specific terms of your transaction. Properly constructed and negotiated agreements will save legal fees for both parties. Additionally, we can assist you and your accountant in asset allocation which can save you thousands of dollars.
Financing for the purchaser can reduce your exposure to post-sale default.
Financing of prospective purchasers relates directly to the structure of the transaction for buying and selling a dental practice. A properly constructed transaction can usually be totally financed for qualified purchasers. This eliminates seller notes and exposure to non-payment by purchasers. You do not want to have to return to practice after a sale.
In the end, the final transaction needs to be fair for both the Purchaser and Seller to be successful.
Henry Schein Professional Practice Transitions, Inc. is a national leader in dental practice transitions. A subsidiary of Henry Schein, Inc. they provide expert guidance for selling and buying dental practices, dental practice fees and management, assessing partnership and associate-ship opportunities, and performing dental practice appraisals and valuations.