There is no question that dental practice sales in Arizona can be complex. They require quite a bit of time and dedication to handle properly. If a dental practice owner doesn’t have the right team in place to help with the process, the entire situation can fall apart quickly. However, there are some tips that can help ensure any selling process is successful. Using these tips will minimize issues and delays.
The Owner Needs to Plan their Exit Strategy
Making the decision to move forward with dental practice sales in Arizona is a big one. It is crucial that a person explores all the options and develops a five-year plan before they retire. Doing this is easy when the right transition team is in place. This ensures that all considerations related to real estate, tax, and other factors are kept in mind.
Enhance and Improve the Location
Most buyers are searching for modern and well-maintained locations. This means that it is important for the dental practice to take action. They should replace any outdated chairs or equipment that is present. Also, consider updating the reception and patient area by installing new flooring or redecorating the space. Choosing modern furniture can also help to maximize the appeal of the space.
Streamline the Practice to Make it More Appealing
When an office is well-run, it is more valuable to the buyers. Take some time to review staffing levels as well as pay rates and even account receivables. If an office has a track record of 12 to 24 months that includes high collections and growth in revenue it is likely to bring a higher selling price.
Work with a Team of Experts
Partner with a dental broker to determine a value for the practice. They can provide the owner with comparable sales figures for the market. Also, know the tricks to use to maximize the selling price.
When selling a dental practice, there are many factors to keep in mind. Don’t try to do this without the proper information. The tips here can help an owner get the price they deserve. More information about selling dental practices can be found by visiting the website.
