TRANSITION YOUR DENTAL PRACTICE
It’s a Sellers Market!
For many dentists, even dentists in their 40’s, your practice is Your Life’s Work and you’ve been waiting 20 – 30+ years for this moment. For others, this may be your second or third time through the process and perhaps you’ve been preparing & building this up to sell it off. Whatever the case, there are some very important things to know as you enter into this transaction.
This is one, if not the, most important decision in your career and the DSO Connection website will provide you a better understanding of how-to Sell, Transition, or Divest your Dental Practice.
By now (even Post-COVID, 2020) you’ve come to realize that it’s a Seller’s Market and there is no better time to transition your practice. And, you also know from your life experience, that opportunities like this are fleeting. That being said, it’s time to take action. The first step is simple – once you complete the Dental Practice Valuation Calculator or answer the Dental Practice Transition Questionnaire we will Connect you to a very Qualified & Interested Buyer. This may be a DSO or Small Dental Group, or it may be another Dentist or Private Equity or Management Firm. You can decide your preference or we’ll determine the best option for you.
What are My Options?
- Transitioning Your Practice: Some dentists are ready to retire and wish to find the most advantageous exit strategy. Some of these dentists believe that the DSO will offer a fair price for their practice and provide a very structured approach for them to transition into retirement. They may also wish to simply reduce their working hours over time while receiving a fair compensation through the transition process.
- Partnering with the Buyer: Since no transitions are identical, and you may have different interests and/or priorities than another dentist, it is nice to have options available to you from a single buyer. Most DSO’s and other Buyers offer a variety of exit strategies for dentists to consider that may include a Partnership of some sort over a longer period of time – which is different than a 2-3 year transition to retirement. This option may be of specific interest to younger dentists in their 40’s or early to mid 50’s who are not ready to retire, but who are simply looking for a change in work/life balance. Be sure to ask about different structures available to you – the options may surprise you.
- Forming a Joint Venture: If you still have a passion to grow your business and/or the mindset to think outside of your office and want to help grow and manage several dental offices within your geographic area, be sure to speak to the Buyer about a Partnership or Joint Venture opportunity that can be structured based on your interests and abilities beyond clinical dentistry.
These are just of view of the options that are available to you as you enter discussions with a Buyer. Be clear on your future goals, objectives and time-line and be sure to communicate these to the Buyer, that way the structure of your deal will be best-suited to fit your transition, affiliation or partnership.