The decision to sell a dental practice you have built and nurtured for many years can be a difficult one. To navigate this transition, most dental practice owners will look for a broker to help them through the transition of selling before they retire. Below are some tips for finding the best broker to guide you through a dental practice sale in Arizona.
Common Sense Approach
The first tip in finding a broker when selling your dental practice is to use your common sense. When speaking with potential brokers, always be upfront and straightforward about your retirement goals, your expectations and concerns. When it comes to this process, there is no such thing as asking a stupid question. Go into each interview with a list of possible questions to ask which you feel are important.
Knowledge Is Power
Before you find a broker for your dental practice sale in Arizona, it would be in your best interest to seek advice about the process from experts. Speak with your financial accountant to learn about any tax ramifications you might incur from selling your practice. Additionally, it is wise to consult with an attorney who has had experience in dental practice sale transactions.
Enhance Dentist-Broker Relationship
Another important tip to consider is enhancing your professional relationship with the dental practice broker you choose. It is in your best interest to be flexible and well-prepared when working with them. Be honest with your broker about what you hope to accomplish with this transaction.
It is necessary to have all of your financial information for your dental practice ready to be examined by the broker. Keep in mind that there are no guarantees in this life. This thought should be remembered while you are going through this process. It will help you strategically negotiate and navigate the sale of your dental practice.
