Most business owners are so busy running the day-to-day operations of their business that they do not give ample consideration to a future sale of their business. Before selling a business, there are many factors to address and adequate preparation can maximize the return to the owner.
In a perfect world, the best time to sell a business is when the business is performing well with future...Read More
Whether you are approaching retirement age or just thinking about a transition, there are several things you can do to prepare your practice for sale. Doing these things may help eliminate headaches, increase your sales price, or reduce your costs. Here are a few tips:
Assess your equipment. Upgraded practices sell faster. If you are more than five years away from retirement, I...Read More
So you want to sell or transition out of your office. What can you expect? There’s a big difference out there between expectations and reality. When I do dentist office transitions or sales in Washington or Oregon, the selling dentist sometimes likes to work back. That’s a great thought and I’ve seen it work. But, more often than not, I’ve seen a disgruntled buyer, disgruntled seller, or...Read More
Your Brand is showing! No, not your underwear brand, your practice brand.
A brand is everything about your practice. From the look, feel, sound, smell, texture, color, to your voice, answering the phone, etc. You go to your office every day and probably get complacent about your brand. Spring is a great time to clean up your brand. You can start outside. Is your parking lot clean and...Read More
When buying a practice one of the most critical numbers to look at is the number of active patients. Active patients are typically defined as the number of patients seen in the past 12 to 24 months. Most brokers use 24 months, but I like to use 18 months in my definition. When I ask a selling doctor how many active patients they have, I typically get either an “I don’t know”, or a number...Read More
