How to Make Selling Your Dental Practice Smooth, Easy, and Profitable

Who Are We?

Dental Health Practice Care Sales, LLC, was founded almost a decade ago by a dentist who was disappointed in the way the sale of his own practice was handled by his brokers. He felt there were important gaps in both the knowledge he was given, and the process that was followed. Sometimes he was left in the dark about important matters. At other times, he was left doing the work of the brokerage firm he hired. He knew the whole transaction could be handled better, and decided to create a brokerage firm that really understood and met the needs of buyers and sellers in this profession.

Handling the Process Better

Dentists looking to sell a dental practice need experts on their side at every moment during the transaction. There are many parties involved and a lot of moving parts that need to be organized and linked together in order to close a sale. Any weakness in the chain will cause the transaction to be delayed or fall apart entirely.


Seven Strategies to Get the Best Price for Your Dental Practice

If you are considering selling your dental practice, the best time to list it for sale is today. It is currently a seller’s market because of the low inventory of practices for sale and the high demand for dental offices. Additionally, the historically low 20 percent capital gains tax rate is not going to last forever.

Click on each Strategy to Expand. If you follow these, you can be confident you will receive top dollar when you sell your dental practice.

1. Maintain a Revenue Stream:

It does not matter to a buyer that you have the latest equipment in your office if the practice does not generate income and maintain a positive cash flow. When banks appraise the value of your practice, they base their calculations on the most recent year the practice generated the least amount of income, not the average revenue from the previous years.

Contact Health Care Practice Sales, LLC to learn the specific formula lenders use to calculate the market value of your practice.

2. Make Your Practice Sparkle:

When prospective buyers walk into your practice, they want to see a well-lit, clean, and attractive space. Take the time to clean carpets, floors, and wall so they are free from stains and de-clutter the office and front desk areas. You also need to ensure labs, operatories, and rest rooms are sanitized and spotless. Buyers also want to see supply areas that are organized and equipment that clean and well-maintained.

Contact Health Care Practice Sales, LLC to discover what aspects of your practice have the most influence on a prospective buyer’s opinion.

3. Upgrade and Update Your Equipment:

While it is not necessary to invest in the latest digital imagery equipment, prospective buyers will form a favorable opinion of your practice if they see new modern chairs and lights, even if they are only in two examination rooms.

Call Health Care Practice Sales, LLC to find out what two equipment upgrades have the greatest impact on a prospective buyer’s offer for your practice.

4. Clean Up Your Books:

Many times dentists forget how quickly small discretionary purchases can add up to significant outflows on their financial statement. Review your books and delete all non-essential expenses from your books so your financial statements reflect the optimal cash flow for your practice.

Contact Health Care Practice Sales, LLC to learn what aspects of your financial statement have the most influence on an accountant’s evaluation of the financial health of your practice.

5. Verify You Have a Transferable Lease:

If you lease office space, ensure the lease terms allow you to transfer the lease to a buyer and there is a minimum of 10 years left on the lease, which is required by lenders who finance dental practice purchases. If you do not have an assumable lease, arrange to have a new lease with the property owner that allows it to be transferred to a buyer. This simple step will add significant value to your practice.

Call Health Care Practice Sales, LLC to discover the most common reasons dental practice sales fail to close.

6. Support Appraisal with Credible and Verifiable Data:

Today’s young dentists are taught to value analytics, so you need to have concrete numbers to support the valuation of your practice. Ensure you have procedure code analyses, demographic profiles, insurance credentialing information and provider contracts, comprehensive practice management reports, P/L statements, and A/R reports ready for buyers to review. Organizing and professionally packaging this information increasing the credibility of the data, which facilitates the sale of your dental practice.

Contact Health Care Practice Sales, LLC to find out the reports that are critical to bank and prospective buyers.

7. List Your Practice Today:

While market conditions favor sellers, the lending environment is favorable for buyer with record low interest rates. The current inventory of dental practices for sale is at historic lows, so new graduates are actively competing with one another to buy your practice. Take advantage of this rare market climate and put your practice on the market now.

Call Health Care Practice Sales, LLC to learn the consequences of waiting to sell your dental practice.


Keeping The Deal Together

Our brokerage firm distinguishes itself because we have a passionate owner who has gathered a team of specialized professionals to control and maintain the sale from start to finish.

For instance:

  • Our lawyers are dental practice lawyers
  • Our accountants are dental practice accountants
  • Our bankers are dental practice bankers

You may have lawyers, accountants, and bankers helping you run your practice, but our team helps you sell your practice. We do this every day and have closed hundreds of sales. Experience is important. The sale gets especially complicated if your practice involves real estate or leases, or if you want to stay on and work as an employee. This all needs to be negotiated and each party must have a representative, including those on the buyer’s side.

We Bring You Prescreened Buyers

We don’t waste your time with tire kickers. Our buyers are prescreened by us personally. We never allow buyers to visit alone or without an appointment. You never have to worry about them showing up unexpectedly during office hours. We plan everything.


Your Plan

In the same way you create a personalized treatment plan for your patients, we create a personalized selling plan for your business. Your back is covered every step of the way. We make sure there are no weak links in the selling process.

Contracting with us leaves you free to continue practicing your business without worry or distraction. We will find you the appropriate buyer. That means we’ll bring you a buyer who will appreciate the business you built. We make sure they’re willing and able to pay you every penny of what your practice is worth.


Getting What Your Practice Is Worth

Often a selling dentist will think he or she can just tap their network for a buyer. Our experience has proven that this simply doesn’t work out. The risk of failure is too great. Either the buyer isn’t ready or doesn’t agree on the price or terms. Then, when the deal evaporates, you may have lost the goodwill of a valuable colleague.

Another reason not to tap your network is because word will often get back to your staff. This is never a good idea. The staff doesn’t need to know you’re simply thinking about selling. It just creates pointless unease, disruption, and chaos.

When we bring you a buyer, that buyer is ready to act within your timeline. They’re ready to buy the moment you’re ready to sell. Your staff doesn’t have to know anything about the sale until necessary. Happily, in almost every instance, the new doctor and the staff transition seamlessly.

Certain Realities To Consider

As we move forward, you need to start focusing on your own goals and the life you want to live after selling your dental practice. Once you’re in our experienced and capable hands, you can finally concentrate on what you want. When you know what you want, we can help you with what you can achieve.

Avoid Costly Mistakes

Working together, we will help you avoid costly mistakes. You don’t need to make any changes until you’ve met with us. We can properly assess your practice from exactly the state it’s currently in. There’s no need to think about buying new equipment or making other, possibly expensive, changes. If your practice is dated or cluttered, we can look past that. We’ve seen it all. We can manage.


Managing Buyer Expectations

Most of today’s buyer are millennial and millennial’s are known for having high expectations. They’re expectations aren’t your concern. Just keep doing what you’re doing and let us handle those expectations. There are a few elements millennials absolutely demand, but we can show you how to meet their demands with as little disruption and expense to you as possible. Let us see your office first, we can give you an accurate recommendation then.

No Office Is Perfect

Like everyone else, buyers will have to temper their expectations to the realities of the market. One reality is there’s an abundance of buyers and a shortage of sellers. In the search for perfect, they repeated lose the offices that are good enough. They’ll never find perfect. We help them see that.

Tastes and technology change rapidly. Since we prescreen your buyers, we can help them focus on the most valuable features your officed possesses, such as good parking, easy access, or a stellar location.  These add value to your office as it is.  The buyer may then decide new equipment can wait until later.

As with any product, the higher you go in price, the fewer buyers there are. As soon as we seen your office, we may already know which of our pre-screened and qualified buyers are the best match.


It’s A Good Economy For Selling A Practice

Currently, the economy is good for sellers and buyers. A shortage of sellers means greater demand and a higher sale price. On the other hand, buyers can pay more because, if the numbers work, they can borrow the amount they need. We’re in a market where lenders are capable and willing to lend.

However, no one can predict the future. Today’s buyers want to buy existing practices and can get funding to do so. If the lending goes away, the buyers go away. If the selling dentist’s practice ceases to thrive, the value of that practice disappears.

Almost the entire worth of the practice rests on the health and viability of the selling dentist. No one is guaranteed a future. Life changes on a dime. Our firm has handled patient record sales. They’re unfortunate and sad. No one would choose that fate after all their hard work.

We Bring You Options

We work in your best interests. We can tell you exactly the areas you should focus on if you want to improve your desirability in the eyes of your buyers.

After the sale, most selling dentists can look forward to a very comfortable retirement. In many cases, their lifestyle improves because the money from the sale gives them choices they never had before. Most no longer need to work.

Others choose to work as employees. They still earn income, work the hours they want, work with the patients they want, and do it all without the hassle of running an office.

Our Commitment

No other dental practice brokers offer what we do. No one has the quality and number of professionals on staff that we do. We make ourselves available 24 hours a day, 7 days a week, 365 days a year. Our founder and owner, Dr Gary Boyajian, DDS, oversees every detail of your transaction.

We stake our reputation on our performance. We don’t let people down. We will help you accomplish your goals.


The Next Step

Hiring the team of experts at Health Care Practice Sales, LLC., will make the process of selling your practice as easy and financially rewarding as possible.

If you’re interested in selling or buying a dental practice, you can email us at performdent@aol.com,  call us at 201-663-0935, or fill out our contact form for a dental practice valuation.

If you’re still feeling unsure, please check out our testimonials page. There you’ll read about the wonderful experiences our clients have had using our services. We hope to hear from you when you’re ready to make your dental practice transition.