Frequently Asked Questions when Selling a Dental Practice
Our qualified experts are always here to answer your questions about marketing your dental practice. Here are a few of the more common ones we hear:
When is the right time to sell?
First of all, we advise that you make sure your family is on board.
A second tip, regarding the financial health of the practice, is to verify that it has been appreciating (or has at least remained level) for at least three years prior to selling.
When is the best time of year to sell?
It is thought that just after Thanksgiving is an ideal time to start, because students will be graduating programs in May and looking to take the next step in their careers. However, because the nature of this process is inherently lengthy, there is no “wrong” time to start the selling process.
How long does the legal process take?
While the entire selling process from concept to contract is unique to every situation and may range from months to even years, the one known variable in the equation is the length of the legal process: The legal process should take no longer than 45 days from the time you write the letter of intent until you settle.
Can I afford to sell my practice?
This is a very personal decision. It is best to talk to your family, your CPA or your retirement plan administrator to decide if the value of your practice can fund the kind of retirement that you want to have.
Whether you are “sold on selling” or not quite sure, call us today – we can help you make an informed decision! Potomac Office Phone Number 301-233-1814