It is best when selling your dental practice to sell BEFORE you are ready to retire. Selling when the practice is most productive at its highest value means not waiting until you are on the downside. The selling dentist may always continue to practice for the buyer or another dentist in the area. However, too often dentists wait too late. Declining production depresses the sale price and makes it more difficult to find a buyer.
In general, it can take six months to one year to sell a practice. Consider that it takes one month to gather data, prepare the appraisal and determine the price; six months to find the right buyer; and one month to obtain funding and close. Having an experienced practice broker shortens transaction time and improves the overall process, leading to a more successful transaction.
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