5 Questions To Ask Your Dental Practice Broker

Dec 17, 2019 | Management

Are you looking to transition your dental practice?
It can seem like a daunting task, but you don’t have to transition your dental practice on your own. It’s important to have a trusted dental practice broker who will walk you through each step of the process. At the end of the day, you want to be confident that you will receive a fair amount for your practice. On top of that, every dental practice owner wants to know that their practice will be left in great hands.

So, which questions should you ask a dental practice broker?
We’re sharing the things you should ask about before you start the process!

How Do You Determine My Practice’s Value?
When you’re ready to sell, it can be difficult to determine how much your practice is worth on your own. It’s important to have a third-party valuation that is knowledgeable and thorough about the dental industry. This ensures that your practice will have a fair price that is competitive in your market. When you are ready to sell, a dental practice broker should help you move forward with confidence about your sale price.

What Does The Process Look Like?
A great dental practice broker will make sure you understand what transitioning your practice will look like from start to finish They will prepare you for what to expect and answer any questions you might have along the way. When working with a broker, you should never feel confused about the sale of your practice.

What Will Happen To My Patients and Staff?
Your broker should make sure the transition is as seamless as possible for your patients and staff. A great broker will ensure that there are no major disruptions to the schedule. It’s important to find a broker who comprehends the dynamics of your practice. Make sure you choose a dental practice broker who understands your practice mix from the very beginning.

How Do I Find The Right Buyer?
Your dental practice broker should help you find a buyer who shares your practice philosophy. Finding the right person to step into your practice is one of the most important decisions you’ll make in your career, and it shouldn’t be taken lightly. At DDSmatch, after potential matches are discerned, our advisors will lead an in-depth interview so you can determine the best match for yourself, your staff, and your patients.

Does My Staff Need To Know I’m Thinking of Transitioning?
It’s completely up to you! Some dentists would rather keep the transition discreet until the sale is final. Talk with your broker about your preference, and they will help you find a potential match in the way you prefer. At DDSmatch, we establish the unique aspects of your practice and share them strategically and confidently with our extensive network of pre-screened viable candidates.

If you’d like to talk with a professional broker, contact one of our DDSmatch team members in your area.