As many dentists plan to sell their practice, it is important to have a strategy to exit and get the most out of your practice.
The first thing many owners say is that new owners can make all the small adjustments and modifications needed to make the practice look and function better. However, you should make these changes before listing the practice to increase its value and make buyers more interested in buying the practice. How much dentistry the seller refers out also makes a difference and can make the practice seem more or less valuable.
Since you look at the office every day, you may not be able to get an objective opinion about the curb appeal of the office. However, a look at other dental practices can give you some perspective so that you can see what needs to be done to make your practice look more appealing to buyers.
Home offices used to be all the rage in the 50s and 60s. However, today, home offices are very rare for dentistry. They’re not purchased because the real estate can increase while the value of the dental practice does not. Consider selling them separately, with one individual buying the practice while another buys the real estate.
Your true net income is what is calculated when you consider the expenses and other items that need to be added to your taxes. True net income is what ultimately determines the value of your dental practice, so speak with a Pro ABC professional to learn more about your true net income.
You can figure out the value of your practice and how much you could get when selling it by looking at your true net income. Depending on your situation, how much you get will vary greatly.
By visiting Pro ABC, you can get an informal valuation of your practice before listing it for sale. Contact a professional to get a valuation today.