When it is time to sell a dental practice in San Diego, it involves the selling of all the underlying assets. This includes everything, the real estate, furniture, equipment, supplies and more. These are called the “hard” assets, and the value is typically easy to determine. However, there are other ways that may be used to sell a dental practice too. For example, a stock can be sold within the corporate framework; an associate can buy into the practice and more. Keep reading for some helpful tips to ensure the sale of a dental practice successful.
Keep Things Simple
When someone is searching for a practice to buy, they are going to look for certain qualities. Thee include favorable leasing arrangements, great reputations, and modern setups. When marketing to sell a dental practice in San Diego, it’s important to have a great rating on sites such as Yelp or have another “selling point.” Keeping things simple and appealing to buyers is the best way to successfully sell any dental practice.
Stop Advertising the Practice to Dental Students
There are many dental practice owners who assume that a dental student or an associate who is fresh from dental school will purchase the practice. After all, this is a great customer, right? Unfortunately, no. The fact is, most newly graduated individuals don’t have the financial resources that are necessary to purchase an entire practice. Also, most lenders are going to be very hesitant to lend large amounts of money to people who have recently graduated due to their less-than-stellar credit ratings.
Growth Potential isn’t as Important as Some Think
There are some people who believe that the “growth potential” of their practice is enough to entice a buyer. The truth is, it’s not. Most buyers prefer to purchase a mature practice that has a steady cash flow, along with a consistent referral base over those that have “growth potential.”
When it comes time to sell a dental practice, there are more than a few factors that have to be considered. More information about these services and how important they are can be found by visiting the WesternPracticeSales.com website.
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