Whether your biological clock is ticking or owning your own business isn’t what you dreamed it would be, there are plenty of reasons to consider selling your dental practice. Each situation warrants its own considerations and end results. Let the professionals at PTS walk you through your options.
Retirement
Retirement is a natural time to consider selling your dental practice. The key here is timing it right and finding the best fit for a buyer for a smooth transition for both your employees and your patients. If time allows, consider staying on part-time until the new owner is ready to fully take on the reins.
Minimize management
You don’t have to wait for retirement to be burned out from dealing with the day-to-day managerial aspect. Bookkeeping, billing, and HR can all take away from your primary focus, which is interacting with your clients. Leave the budget balancing to the pros, and consider selling to a DSO.
Share the responsibilities
If you thrive in a private practice setting but are getting overwhelmed with all the parts that make it run, it might be time to enlist a little help. A merger with a like-minded partner will help alleviate some of those tasks, while a buy-in will set you up with a buyer whose personality is compatible.
What’s next?
Ready for a change? Figure out the next steps for you and your practice by contacting the professionals at PTS. You’ll begin your transition strategy with an overall practice analysis, then set a realistic time frame for a transitional period.