practice transitions
Planning for your retirement is probably the most challenging times of a dentists career. You've spent the majority of your life doing dentistry, and now comes a time when you need to consider how and when to exit. If you don't have a few hobbies, grandchildren, vacation home etc to keep you busy, there's not much to look forward to in retirement, so its easy to just procrastinate and just keep doing what you are doing. This is risky, there's a lot that could happen with your health that could cause you to exit before you wanted to, leaving you in the position to make a quick decision to sell fast for a fraction of what you expected. Even worse in the extreme case if you had a fatal incident, you'd be leaving your family with the responsibility of trying to figure things out and potentially taking so long to sell the practice that its worth next to nothing.
To avoid this we need to start discussing your options and strategies early on, at least 5 years before you intend on retiring. Together we can determine the best next steps, call or email me and lets get the conversation started before it's too late. At minimum we need to start looking at what it takes to prepare your practice to either attract an associate or attract a buyer. Its like selling a house, you usually need to update a bathroom and paint some walls, it's no different with a dental practice. There are certain things a young dentist "needs" to perform modern day dentistry, you need to be prepared for this or the process of finding a buyer may take forever.
For more information on transitions please feel free to reach out to me via CONTACT ME
To avoid this we need to start discussing your options and strategies early on, at least 5 years before you intend on retiring. Together we can determine the best next steps, call or email me and lets get the conversation started before it's too late. At minimum we need to start looking at what it takes to prepare your practice to either attract an associate or attract a buyer. Its like selling a house, you usually need to update a bathroom and paint some walls, it's no different with a dental practice. There are certain things a young dentist "needs" to perform modern day dentistry, you need to be prepared for this or the process of finding a buyer may take forever.
For more information on transitions please feel free to reach out to me via CONTACT ME