Aug 8, 2018

Posted by in Dentist | Comments Off on Why More Clinic Owners Hire A Broker To Sell Dental Practice in San Francisco Bay Area

Why More Clinic Owners Hire A Broker To Sell Dental Practice in San Francisco Bay Area

Why More Clinic Owners Hire A Broker To Sell Dental Practice in San Francisco Bay Area

A dentist is the first line of defense in preventing a plethora of oral health problems, and many practice owners find that a clinic is a lucrative business adventure. Despite the benefits, there are still times when a practice owner may need to sell their business, either due to retirement or a change in life circumstances. If a person is looking to sell dental practice in San Francisco Bay Area, they should contact a broker, as they will provide support and guidance throughout the entire process and ensure a smooth and effortless transaction.

Clinic Valuation

One of the first items to determine is a fair listing price, and determining the best number requires an in-depth look into the operations of a company. A broker will examine the company’s financial reports and any held assets to determine its value. In some instances, the practice may come with real estate, or some sellers have the option of leasing the property back to the buyer, which provides passive income and will make a listing more appealing.

Required Reports

Before an individual makes an offer on a preexisting practice, they may request a variety of reports, and some banks will also ask for documents to grant a loan for the purchase price. It is usually a good idea to have monthly balance statements and a yearly budget report readily available. A broker will have these items on hand, which will allow a potential buyer to gauge their interest before making an offer.

Buyer Sourcing

The most challenging part of trying to sell dental practice in San Francisco Bay Area is locating a viable buyer. Most brokers have a list of eligible buyers on hand, and will also work with other broker companies to find a person who is ready to make an offer and close a deal. Also, they will have a robust marketing plan that will help increase the visibility of the listing and pique interest.

If managing a dental clinic has become overwhelming, it may be time to consider selling it. The team at Western Practice Sales works with clinics of all sizes and offers a no-obligation initial evaluation. Be sure to contact Western Practice Sales to learn more and make selling a dental clinic as straightforward as possible.

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