Buying and selling a dental practice is typically a once-in-a-lifetime event. While the daily operations of your practice may be your expertise, the selling process often surfaces surprising emotions and complexities, no matter how well you know your business.
As a practice owner, selling to your associates might seem like the natural path forward. They know your practice, your patients, and your team. But before you commit to this route, let's explore what we've learned from guiding hundreds of practice transitions.
The Value of Market Perspective
Getting a clear picture of your practice's true market value often changes how owners think about transitions. Many of our most successful clients initially planned to sell to their associates but discovered valuable options once they explored the market. Gathering objective market data will strengthen your position even if you're determined to sell to associates.
Critical Considerations for Associate Sales
Before moving forward with an associate sale, consider these key factors:
- Get a Professional Valuation First
An independent appraisal provides crucial market context and sets a foundation for transparent negotiations. - Consider the Inside Knowledge Factor
Your associates have seen both strengths and challenges over the years - this intimate knowledge can complicate rather than simplify negotiations. - Understand the Leverage Dynamic
Associates often have unique negotiating leverage since they've contributed to the practice's growth and value over time. - Recognize That Finding a Buyer Isn't the Challenge
Successfully closing a practice sale requires navigating complex emotions, relationships, and technical details beyond identifying a buyer.
Making an Informed Decision
While handing over the keys to a trusted associate may feel like the most natural path, our experience shows that the best transitions happen when owners remain open to discovering their ideal scenario. This doesn't mean you won't ultimately sell to your associates - it means you'll do so with the confidence that comes from understanding all your options.
We're happy to share what we're seeing in today's market and discuss how different transition options might align with your goals - no pressure, just straight insights from our experience with hundreds of successful transitions.
