The Long Game: When to Start Planning for a Successful Dental Practice Sale

Selling a dental practice is a complex process that requires careful planning and preparation. As a dental practice owner, it’s essential to start planning for the sale of your practice well in advance to ensure a smooth and successful transition. In this article, we’ll discuss how far in advance you should start planning when selling a dental practice and why it’s important to do so.

The short answer to how far in advance you should start planning when selling a dental practice is at least two to three years before you plan to retire or transition out of your practice. However, the actual timeline can vary depending on your specific situation and goals. It’s best to consult with a dental practice transitions consultant such as Henry Schein Dental Practice Transitions to assist you in determining the optimal timeline for your practice sale.

One of the main reasons why it’s essential to start planning early is that the process of selling a dental practice can be lengthy and time-consuming. From preparing your practice for sale to finding the right buyer, negotiating terms, and completing the transaction, the entire process can take several months or even years.

By starting early, you can give yourself enough time to:

Complete each step of the process carefully without rushing or making hasty decisions

Take time to decide what’s best for your patients and staff.

Maximize the value of your practice

Determine how beneficial it would be to invest in new equipment, expand your patient base, or improve your practice’s marketing and branding.

Network and build relationships with other dental professionals

This can be particularly important if you’re looking for a specific type of buyer, such as a young dentist who is just starting out or a larger dental group that is looking to expand.

Finally, it’s important to work with a broker, like your local Henry Schein Transition Sales Consultant, to manage the sale process. They can help you identify potential buyers, negotiate terms of sale, and manage the legal and financial complexities of the transaction. They can also provide you with guidance and support throughout the process, ensuring that your interests are protected, and that the transaction is completed smoothly and successfully.

Selling a dental practice is a major decision that requires careful planning and preparation, so starting early and working with a reputable dental practice transitions consultant such as Henry Schein Dental Practice Transitions can help you ensure a successful transition and achieve your goals.

WHAT OUR CLIENTS ARE SAYING:

Very happy with my experience with Henry Schein Dental Practice Transitions. Chris Regnier was very responsive and able to find a buyer very quickly. Very helpful in guiding me through the process.

Jing Zhao, D.D.S.– Seller Brooklyn, NY

I’m really happy that I chose Maggie Dering at Henry Schein Practice Transitions to sell my practice. There was serious interest in my practice quickly, and I was able to sell within my ideal timeline. The dentist who purchased my practice is a perfect match. Maggie paid attention to detail, always responded quickly, and clearly cared about making the transition as seamless as possible. I would recommend Maggie and Henry Schein to any potential seller or buyer.

Jonathan Bayne, D.D.S. – Seller Woodland Park, CO

DIVE-IN & LEARN with On-Demand Content!

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Christy Conway is extremely talented at her job; efficient, caring, and truly an Angel. I am disabled and sold my practice without doing any of the work. She took care of everything for me. From the day she showed the practice to closing was less than 60 days. The entire process was made so easy for me. She was able to get multiple offers that overbid to get my practice. I truly appreciate what an incredible job she did and all the personnel at Henry Schein. I highly recommend Christy and her team at Henry Schein to anyone looking to sell their dental practice. Excellent work from a truly exceptional person! I will always be thankful!

Taly Huaman, D.M.D. – Seller San Diego, CA

WATCH

Webinars from Dental Practice Transitions are designed to provide tips, tools, and help you capitalize on the investments you’ve made throughout your dental career. Hear from a nationally recognized speaker, author, and consultant who has been advising dentists for more than 30 years, Senior Director of Transition Services, Thomas Snyder, DMD, MBA, for an update on practice values, dental market trends, considerations for successfully transitioning your practice, and more.