subject: Buying & Selling Practices [print this page] Running a dental business can be a very rewarding experience that allows you to get involved in your local community and develop long-term relationships. In some cases, you may not be able to stay in the same area indefinitely and run the same business year after year. When this occurs, selling your dental practice and buying a new practice somewhere else may be necessary.
Selling Yourself
One option that you have when you find yourself in this situation is to try to sell the dental practice by yourself. This can work, but you should expect it to take some time to complete the process. When you are running a dental business full-time, you don't have a lot of extra time to market your business for sale in other areas. Most of the time, a dentist will need to come from outside your area to buy your practice. Without the resources that it takes to market your business, it could take months or years to sell your practice.
Dental Practice Value
Another option that you may want to consider is working with a qualified dental broker. Dental brokers are companies or individuals that help facilitate the sale of dental practices. These companies make it easy for dentists to sell and buy other practices. They have the resources any experience to effectively market a dental practice for sale. They often have relationships from other areas that make it possible to market a business in a larger geographic region. This increases the chances of finding a buyer for a practice that is for sale. Both the buyer and the seller stand to benefit from working with a dental broker.
Considerations
Working with dental brokers can be beneficial for all parties involved. The dental broker will receive a commission for his work, but the price is generally well worth the service rendered. Using a dental broker generally speeds up the process and helps buyers and sellers come in contact with one another. If you're a dentist and you need to buy or sell a practice, working with a qualified dental broker may be exactly what you need.
by: Stanley Harrell
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