As dentists near retirement, they must decide whether to close or sell their dental practices. Brokers help facilitate the buying and selling of professional practices. A sale can include just the office space and equipment. A dentist who simply relocates takes his current patients with him. The value of space and equipment only sales is less than the sales of practices that include the patients. Other than retirement, a dentist will sell a practice because of an inability to work or because of personal preference.
On the other side of the equation are the buyers of dental practices. Buyers are dentists who are looking for a new location or are recent graduates of a dental program. As a recent graduate, it is more seamless to buy and take over an established practice with patients than it is to start one from scratch. This isn’t to say that buying an established practice is a guarantee of income or success. A new dentist takes the risk of having to live up to the reputation of the previous one and has to establish a good rapport with the existing patients. Buyers who are looking for a dental practice for sale in Arizona can consult website for further information.
Firms, such as Western Practice Sales, are similar to real estate agents. They help connect buyers and sellers in the marketplace. Dental practice brokers list practices put up for sale. Prior to listing a practice, brokers will determine a value or listing price. Value is affected by location, equipment, size of the office, staff, patient load and the potential for new patients. Listings will detail where the practice is located, what’s nearby, the average number of patients seen per month, and the amount of new patients the practice generates. A listing will also give a general description of the office facilities and whether the practice includes a specialty, such as orthodontics.
A dental practice broker is beneficial for buyers. Brokers know the local or regional market a buyer is looking to purchase in. Someone looking for a dental practice for sale in Arizona is going to face different market conditions and legalities than someone in New York. Broker listings show buyers what’s available and whether those options are worth the risk of investment.
