Sell a Dental Practice with Dr. Gary DDS
If you are the owner/owners of a dental practice and are looking to sell, there are two widely accepted ways to proceed -
- Option 1 - Find a Dental Broker and Sell Outright
- Savvy business sellers know to always go through a professional business broker when it's time to sell. Most business owners are better at starting up and running a business than selling one. Most could tell you the market value of their home but have no idea what their business is worth. There is no Zillow for businesses. But to sell/transition a dental practice, you should only deal with a well known dental broker, like Dr. Gary.
To effectively sell a Dental Practice, you need a team that understands the different industry specific factors unique to to sell a dental practice. Medical practices are best handled by people who specialize, and that is where Dr Gary's overview of the dental industry is your greatest asset in your exit strategy.
Dr Gary bridges the gap as a tenured Dentist who now handles the complicated process of dental practice transfers of ownership. He oversees all the different players like the ringmaster of a circus directs three different, but interrelated acts simultaneously.
Lots of Outfits On The Web Claim To Be Dental Practice Sales Specialists!
But in the real world of business,
many entrepreneurs select a target industry, based on income potential, not necessarily any expertise in that field.
In our case here - business brokers - then set out to find competent associates, CPA's, attorneys, etc, that DO know the target industry. Sometimes they get lucky, and sometimes they don't. But the likelihood of these outsources having experience in the dental industry is hit and miss. If the boss doesn't know the dental industry, what qualifies them to select associates that do?
Any professional with a DDS after his name
can immediately detect an outsider trying to 'talk the talk' to make a sale. The proper reaction should be to abruptly walk away.
Dr. Gary maintains a full time team that specializes in selling Dental Practices - everyone on the team IS a specialist.
....even the in-house CPA's and the attorneys he brings in. Dr Gary has the dental transition 'dream team' under one roof. And if you decide to take the DSO
route he also maintains a retinue of regular players in that arena, that do ongoing, regular business with the Dr Gary team - you'll hit the ground running.
Dr Gary's "A Team" has a flawless record of client satisfaction....the best in the business!
- Option 2 - If Your Practice Qualifies, a Well Planned Phase-Out With a DSO, Dr. Gary Will Be Your Guide.
- Building a large, successful dental practice didn't happen overnight, it took years of hard work and dedication. The overwhelming advantage goes to transtitioning out with a quality DSO, also known as a "Dental Support Organization, rather than attempting to sell a large practice to private entity.
For more about DSO's, << Click Here >>
If You Have a Large Practice, You'll Also Need a Large Buyer!
Selling a large practice to a private buyer has many hurdles to overcome, not least of which is financial resources. Private buyers have to be found one at a time,
One common risk selling to a private buyer is loss of confidentiality, as you spend months listing and marketing. When employees catch wind of a sudden new regime, they may flee to another practice they are more familiar with. In business sales of any kind, fear of the unknown can destabilize and threaten a smooth transition of ownership. Hygienists, for one, have been known to take their 'regulars' with them.
If You Have a Large Practice, a DSO Would Obviously Be The Most Worthy Contender For What You Have Built Up.
For more about DSO's, << Click Here >>
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“On The Road With Dr. Gary Selling Dental Practices”
The Dr. Gary Team utilizes two main approaches to represent sellers
Selling a dental practice to a private buyer
- Selling to a private entity
- Selling to a DSO
involves the usual tactics - Marketing, listing, non-disclosure agreements, meeting with prospective buyers, etc. This is the natural route to take for selling a smaller practice.
If you have a larger practice, selling to a DSO would be the way to go.
DSO's are well funded dental practice buying organizations that offer top dollar for successful practices that qualify. The larger your practice, the harder it is to find a qualifying private buyer.
A DSO sale requires the dentist and staff to stay on for two or more years, "transitioning" out over that time. The seller will net significantly more going this route.
If your practice qualifies, there's a DSO waiting to reward you handsomely for your effort.
For full details on DSO Dental "transitions" << click here >>