It’s time to think about what your dreams are beyond building your dental practice. When you spend most of your life running a business, it can be difficult to know what the next step is for your practice and your personal life. Our team helps dentists just like you visualize the future and set achievable goals. We also develop strategies to start you in the direction of your post-transition dreams, well in advance of your intended transition timeframe. Here are three things you should think about as you plan for your next chapter.
Current Practice Valuation
Do you know how much your practice is worth? It can be difficult to determine this on your own, but there are experts who can give you a clear answer. Our team works with third-party Certified Valuation Analysts with dental industry expertise who will analyze your practice twice. Their findings are fair, reliable and respected by banking institutions. This is an important step because it will serve as part of your wealth management planning. So, how does this work? The first analysis will be at the beginning of the process. The second analysis occurs when you are ready to transition in the future as part of The Trusted Transition Process.
Ideal Retirement Calculation
When you transition your practice, you will want to be financially prepared for the future. An outside expert will be able to help you understand your current situation and what your status might look like in the future. Reviewing all of your finances will establish security in timing and planning for future transition. It will also give you direction and confidence about how to plan your next chapter.
There is a lot to think about when it comes to retirement. You don’t have to make these decisions alone. Our team brings guidance and years of experience working with dentists who share the same goals. At DDSmatch, we offer a personal introduction to a DDSmatch endorsed Attorney to update or create critical legal documents. Our experts work to prepare and protect the practice assets and value in the event of unforeseen circumstances in the future.