How to Find the Right Buyer for Your Dental Practice

The question “How do I find the right buyer for my dental practice?” is a two-part question. The simple part of the question is about finding a buyer. The second part of the question, is about finding the right buyer – which calls for a more in depth discussion. This post will answer both parts of the question.

Finding a buyer is easy – connect with a dental advisor-broker that has the expertise and access to a large buyer pool.  A larger buyer pool fosters competition that can drive up the final sale price of your practice.

Finding the right buyer, on the other hand, is more than just about finding the highest bidder. When selling your practice, identify what is important to you, other than sale price.

1. Culture – You’ve worked hard over the years to find the right team and foster a spirited culture in your dental office. Can the buyer continue offering a comparable or more enhanced work culture for your dental family?
2. Terms of stay – How long do you want to work in the practice after the sale? Are the buyer’s terms aligned with your exit strategy or retirement plans.
3. Management and policies – Consider how the new management of the practice will impact your staff and patients. Will insurances be added? Lower quality labs used? If you’re staying on as part of the practice, this may impact the quality of your work.
4. Legacy – After decades of building a reputation, consider the impact the new owner will have on your community. It’s a rewarding feeling knowing that our life’s work has made a positive impact on those around us and that impact will continue to be carried on for years to come.

Before entering negotiations, it’s important to identify what you value. It is equally important for your advisor-broker to know your values intimately.  This is why we spend time fostering a relationship with our sellers. Doing so enables us to not only get you a high-paying buyer, but also find prospects that are aligned with your goals and desires.