Many dentists only sell a practice once in their life.
When it’s time to sell their practice, many dentists make decisions poorly, out of lack of knowledge and understanding of the impact of the various decisions that need to be made. Many would-be sellers delay putting their practice on the market as they don’t know what to do next and are afraid of a loss of their identity.
Topics include:
- Exit planning how to get your practice ready to sell
- Various exit strategies, including walk-in walk-out, the incremental sale, sell and stay on and grandfather
- Succession Planning – what you need to do now to prepare (and how to manage the transition to retirement)
- Valuing Dental Practices – what is the value in your dental practice and how to quantify?
- Legal agreements
- Effective strategies for transferring patients effectively from seller to buyer
- What to do next post sale – volunteer dentistry, locum, structure working part time, or retire
- Understanding what you are selling
- Does your current structure provide for succession?
- Tax implications and strategies for selling
- Superannuation strategies on the sale of your business
Learning Objectives
- Preparation work – how do you get your practice ready in order to sell?
- Learn which exit strategy option is right for your practice and why
- What to do if you plan to sell your practice in the next year… how to increase its value and what not to do
- Understanding the different accounting considerations
