Transition Dental Practice / Sell a Dental Practice for Maximum Return
Are you considering selling your dental practice? Do you have an exit strategy? If you own a successful dental practice, you definitely didn't get there without in depth planning and strategy. Jumping ship and walking away with a standard private sale would be an unfitting end to a life's work of prudent decisions and long term goals.
If you have researched dental practice sales, you have no doubt seen the words "transition dental practice" bandied about in a confusing and misleading array of end uses.
Q: So what does it really mean?
A: Depends on who you talk to!
In spite of all the loose use of "transition dental practice" surrounding dental practice sales, a DSO sale is actually the truest use of the term. The seller doesn't cut and run, but stays on for an agreed upon term, averaging two years or more. The seller keeps the client base and office personnel, then finally phases out, permanently turning over the practice.
Over the years "transitions" usually described a private sale where a tenured dentist would sell a share of his practice to a startup partner, with the goal of slowly "transitioning" the practice over to the younger dentist with an eventual full buyout.
Problems sometimes arose when the senior partner had a change of heart and decided he is no longer ready to retire and/or leave the practice. If you currently browse "dental transitions"- brokers, foreign to the actual art of dentistry, advertise as "Dental Transition Specialists", when they are in fact just doing abrupt private sales.
A DSO "transitional" sale lays out terms for the timeline of full phased, non-abrupt, transfer of ownership with guarantees
of fulfillment from both parties and no shock to a loyal clientele that took decades to build. In a 'great deal', both parties walk away happy. Dr Gary has guided many dental practices through the much more profitable transitional transfer of ownership a DSO provides.
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