Selling a dental practice requires extensive investments in time and a deep understanding of the dental sales market. To aid in the complicated process, many practice owners opt to work with a Dental broker who can guide sellers through every step of the selling process, from initial valuing to the closing and transition.
Dental brokers have specialized training and experience that makes them experts in their field and work to ensure that clients receive the highest selling price that the market will support.
You can think of your broker us as a trusted mentor who will advocate for the highest sales price along with the best fit for your practice. We understand that the years or decades of time you have invested in your dental practice deserve to be properly remunerated.
What Are the Benefits of Working with a Dental Broker?
If you are considering selling your dental practice, there are many important questions to consider, such as:
Do I have time to properly handle every aspect of selling my dental practice?
Do I have the connections to find a buyer who can meet my asking price?
Do I have the experience to navigate the complicated steps involved in selling a practice?
If these questions leave you hesitant to undertake the selling of your practice, we encourage you to consider the benefits of partnering with a Dental broker like 1st Med Transitions. A skilled and experienced Dental broker will handle the following:
Dental Practice Valuation
Your Dental Broker will learn about every aspect of your practice in order to estimate an accurate current market valuation. They should listen to your specific professional and sales goals while reviewing your financials and clinical philosophy.
Specific metrics that will measure may include:
Collection trend analysis
Cash Flow and EBITDA analysis
Procedure Analysis & Review
Type and amount of dental equipment
Patient Analysis
Current staff and their experience and training
Location Type and whether or not the real estate is leased or owned
Based on that information, your Dental broker will determine a reasonable market value and listing price for the sale of your practice.
Market Your Listing
Your Dental broker's goal is to maximize the number of potential buyers who can confidentially review your listing. The more potential buyers your listing reaches, the greater the potential for sale. A good Dental broker will have a number of marketing verticals to access to reach potential buyers such as:
Active Buyers List
Digital Marketing (Google, Bing, etc.)
Social Media Marketing (Facebook, Instagram, Linkedin, Etc.)
Email Campaigns
Industry Websites & Forums
Direct Mail
Closing & Transition
Once an offer is accepted, a Dental broker's job is not complete. They will work with you until the closing date to ensure that the sale does not fail at the last minute. Often, this simply means paying attention to the details. A good Dental broker will review the books, practice reports, financial statements, and assist with the sales contract negotiations.
Even after the sale is closed, they will oversee the Post-Close Transition Period, which can include credentialing, procedures and systems training, employee management, and insurance transfer, among other tasks.
Work With A Trusted Dental Broker
If you are looking for a Trusted Dental Broker to manage the sale of your practice, 1st Med Transitions has more than 25 years of professional experience guiding sellers through the complicated steps of selling a dental practice.
If you are thinking of selling your dental practice, we are happy to start the conversation. While many traditional brokers may charge an upfront fee and 8 - 10 percent commission, 1st Med Transitions offers a 5% success fee. To learn more about our services, please contact our office online or call (800) 815-0590.
If you are ready to get started, you can complete our Dental Practice Sales Consultation Form and one of our experienced practice transition advisors will contact you within 24 hours.