Getting ready to retire? Looking to start a different path in life? A dentist might want to sell a dental practice in California because they’re ready to retire, start a new life, or take a back seat to work less.
When a dentist is ready to sell their dental practice for the best price possible, they need to work with someone who knows the dental business. Making the choice to sell a dental practice is not always an easy one but, with the right broker, it could be the best choice of a dentist’s life.
How Much Is A Practice Worth?
Establishing the price of a business is determined by the gross sales receipts for the last year. Even the slightest decreases will make a difference in the selling price. Steady income without a large difference from year to year will make a practice desirable to purchase.
If a dentist plans to be in business for another two or three years before selling their business, they shouldn’t invest in a lot of new equipment unless it’s going to dramatically increase the practice’s gross receipts significantly. When the dentist isn’t going to sell dental practice in California for another eight or ten years, modernizing their office will increase patients, reduce some costs, and increase the gross sales or potential sales price.
Corporate dentistry is here to stay because of the cost of overhead for many dentists. Dentists who do not want to work full time are finding that selling their dental practice to a corporation reduces the amount of time they need to spend on paperwork. Corporate dentistry takes the headaches out of personnel issues, ordering of supplies, and so much more.
Buyers of dental programs come from various fields, including other dentists, doctors, and attorneys. These individuals invest in a practice and take approximately 40% of the income, which is how much overhead costs normally are in a dental office.
If you’re looking to buy or sell a dental practice, contact Western Practice Sales. They have over 25 years of experience buying and selling dental practices in California.