Sell and continue to practice more profitably by merging with a more modern office
Many dentists will cut their hours after many years of working tirelessly. As they do so their profit margins shrink as overhead eats up a higher percentage of their revenues. There is no extra money for investment in new equipment. Everything in the office gets older and less attractive to a prospective Buyer. The dentist feels more and more like they are working for nothing. If the practice has a low-profit margin, a bank will not lend money for someone to buy it. And someone with a rich father is not going to buy his child an old fixer-upper. They are going to build them a beautiful new modern facility
If your revenues have slipped to under 300,000/ year it can be hard to find a Buyer. However, if the Buyer has their own big, modern dental facility near you, they can acquire your practice, merge it into their space and be happy to keep you on as an associate. For them, they have already paid their fixed costs so adding your practice is highly profitable when placed on top of theirs.
Many very successful dentists have built their practices by acquiring or merging existing practices into their facility. If they retain the selling dentist who moves into their newer and more modern facility, 100% of the patients will follow the Seller to the new nearby office. Many facilities have specialists; or highly trained GP's, who can keep procedures/ revenues in the new office when the Selling dentist was referring away a significant amount of revenues every month.
Here at US Dental Practices, we get contacted by potential Buyers every week who are looking to acquire or merge with a smaller practice. If you think you might be interested in getting money out of your practice while continuing to practice for years to come, call one of our practice specialists in the NYC Metro area. We have 9 agents spread out over NY, NJ, CT, and PA. Contact the one closest to you and we will come meet with you to discuss your situation in person and at no charge to you