Planning Transition of Practice to New Ownership
At some point in your career, you will feel the need for change. You may have a need to overcome solo-economic dependency, improve staff relations, or find some relief from the stress of managing a private practice.
Our next subject matter expert, Larry M. Chatterley, joins us for a four-part series where we address 24 essential practice planning issues. Through proper planning, you can preserve and enhance the value of your practice, and learn how to avoid making critical mistakes that can turn the sale of your professional practice into an emotional disaster and a financial disaster.
Mr. Chatterley has specialized in transitioning dental practices and serving the business and transition needs of dentists throughout the western U.S. for over 26 years since he founded CTC Associates in 1988. He has facilitated the successful transition of over 2,000 practices and has authored several publications on practice transitions.
Questions we address in this episode:
- What are my transition options as a late-career dentist?
- What do I really need to know about selling a practice, and are my expectations realistic?
- How can I know which option is best for me?
- How will I know when it is the "right time" for me to sell my practice?
- How will demographic trends over the next ten years affect my practice value and marketability?
- If I don't think I am quite ready to sell, what should I be doing now to prepare myself and my practice for a transition?
If you’re a practice owner in Colorado, Idaho, New Mexico, Utah, or Wyoming, contact CTC Associates at ctc-associates.com for practice transition tools and guidance.
Learn about dental practice transition specialists in your area by messaging office@longinthetooth.info
Long in the Tooth provides non-clinical gems of wisdom for older dental practice owners. Learn more about this podcast at longinthetooth.info