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It’s not uncommon for dentists to sell a dental practice that they’ve built from the ground up if they see that it will be advantageous for them. This might apply to you, too. Whether you’re eager to sell a dental practice that you’ve cultivated over the years or are still mulling over the idea, it’s always wise to know how to do so in advance.
Because this task can be complex, thoroughly preparing to sell a dental practice can increase your chances of success. If you are ready to sell a dental practice, here are some tips that can help you out:
Identify the Reason You Have for Wanting to Sell a Dental Practice
Setting goals can help you measure your success effectively. If you want to sell a dental practice, your reasons will help guide you to the next necessary steps to take. How early you’ll sell a dental practice also hinges on why you want to do so. Of course, not every objective will be fully met, so you must leave some legroom for compromises or negotiations.
Plot Your Timeline Out Before You Sell a Dental Practice
Once you know your reasons, ensuring that you have enough time to sell dental practice will help increase your success rate. Many dentists who managed to sell a dental practice likely took years before they were able to do so. By knowing your timeframe, you’ll be able to come up with a better projection of your financial stability during and after the sale.
Consider a Practice Valuation Before You Sell a Dental Practice
Knowing the value and maintaining that amount until you’re ready to sell a dental practice ensures that you’ll set a more realistic market price. Factors such as the facilities and equipment affect how much you should sell a dental practice. If you aren’t confident about determining the rate, asking for help from a broker with experience on how to sell a dental practice is recommended.
Brush Up on Your Marketing Skills Before You Sell a Dental Practice
Before you sell a dental practice, consider knowing about the most effective channels for property sales. Your ability to make your property marketable can make a big difference in getting inquiries. What kind of advertisement works better for people who sell a dental practice? Is there a certain tone or listing style that attracts more attention? These are questions you should ponder on.
Part of an effective marketing strategy for when you want to sell a dental practice is knowing how to respond to inquiries. When someone messages you to ask for more details about your listing, be prepared to answer them clearly and promptly.
Prepare for Negotiations if You Want to Sell a Dental Practice
Once you have a potential buyer convinced, you’ll most likely get a purchasing offer from them. This may or may not be smaller than the price that you intended to sell a dental practice at. Review the goals you’ve set when you first planned to sell a dental practice to help you and the purchaser reach an agreement.
Consider Hiring a Broker if You Want to Sell a Dental Practice
Many other aspects that you need to take into account when you’re planning to sell a dental practice can be confusing. You may also not have enough time to sell a dental practice if you’re busy. A broker will assist you throughout the process so you can focus on other vital matters.
If you’re planning to sell a dental practice but aren’t sure where to start, we are here for you. Our team of Main Street Business Brokerage professionals can provide expert advice and assistance so you can put your practice up on the market efficiently. We also offer Certified Business Valuations and consulting services. Contact us today to learn more.
When it’s time to put up your business on the market, as its owner, you’ll only want what’s best for your investment. That’s what ROI Corp is here for. We offer business valuation services that have an above-national average level of success.
ROI Corp is a Massachusetts-based company. Over the years, we have handled countless transactions, including buyer and seller representation. We continue to strive to give our clients, regardless of the size of their business, the best service by making better engagements with integrity and intelligence. We also provide services to nearby states, such as Connecticut, Rhode Island, Maine, New Hampshire, Georgia, and more.
Gary Rayberg, our founder, sold his first business in 1983, and it was followed by more successful transactions throughout the years. Since introducing ROI Corp to the public in 1997, we’ve been able to help more people buy or sell their businesses. But how do we make it possible? At ROI Corp, we operate with these four Es: Ethics, Experience, Engagement, and Effort.
We at ROI Corp make sure that we comply with the standards required by the International Business Brokers Association’s code of ethics. That’s why we are dedicated to working with our clients with equally high standards.
Most of our members at ROI Corp have been in the business for more than 20 years. They have been involved in sales in over 30 states and several other countries, so you can rest assured that you’ll be in good hands.
ROI Corp makes sure to guide you throughout the process. You can rest assured that our team members will assist you from inception to completion.
We strive to give our clients an excellent customer service experience. That’s why we make sure that we’re never too busy to answer your emails and phone calls. Our team members will give you their most honest efforts when you try to reach out to us.
Aside from these four Es, we try to understand the different challenges our clients face. To do so, we make sure that our team members get annual continuing education in different areas, such as financing, valuation, and more.
As part of our strategy for success, we put deals together and use these partnerships to drive value. We always do our best to help bring the best buyers to your business.
Here at ROI Corp, we provide professional third party valuation services to clients who want to sell their business. We’ll make sure that you’ll have an idea of what you’ll expect and how you can justify your selling price to the buyers. ROI Corp uses a Controlled Informal Auction, which can help you get the highest bid for your business. This process has been proven to lead the transaction to success.
If you’re looking to buy a business, we will walk you through the whole analysis process. We’ll provide you with a list of your best choices. We’ve also developed productive relationships with banks and lenders throughout the years, so we can also offer financial assistance if needed.
As soon as you decide to sell or buy a business, give us a call! Schedule a consultation with one of our team members so we can assess your needs. Then, we’ll connect you with someone who’s best suited for your business venture.
If you want to learn more about our company, we can also provide you with a list of references. You can speak with some of them to know how excellent we are with our work.
With our combined experience, engagement, ethics, and effort, we at ROI Corp will do our best to help you make a complete and successful transaction. Reach out to us today and let’s start making a difference.