Buying or selling a dental practice takes specialized Dental Practice Brokers in Arizona. There are many things to take into consideration that an ordinary real estate agent would not realize. For the seller, guidance is needed throughout the entire process. Determining an appropriate selling price, for example, can be difficult. The worth of the practice depends upon the location, the size, the value of the equipment, the current client base, and the growth for potential. All that is based, in part, by the revenues earned by the practice in the past three to five years.
Once an asking price has been set, there are the tasks of putting the practice on the market, attracting serious buyers, and closing the deal. Dental Practice Brokers in Arizona can help with all those aspects of selling a dental practice. A brokerage consists of accountants, attorneys, and, in the case of Western Practice Sales Arizona, dentists who work together to handle the entire process from beginning to end. Buyers need guidance as well to determine if a practice will suit their skills, preferences, goals, budgets, and needs. A cosmetic dentist will not be suited to a practice that is equipped for pediatric or general dentistry. The machinery will not be appropriate, the bays may not be big enough, and the location may not be conducive to attracting the right type of patient. The fit would not be successful because the current client base would not be likely to utilize cosmetic services. A real estate agent does not have the knowledge or training to advise someone looking to start a business.
There are many advantages to purchasing an established practice. It saves time and money, as the equipment is there, the support staff and assistants are there, and so it all the furniture. The community already knows the practice is at a certain location, and there is an established client base. One payment covers the space, the equipment, and the furniture. New dentists do not have to take separate business loans or try to manage three payments at once. Time is saved because everything is move in ready. Things like redecorating can be done in stages as the practice grows and earns more revenue.