The 10 Minute Dental Marketing Podcast

Retire Smart: 10 Must Do Steps Before Selling Your Practice

Listen Later
Retire Smart: 10 Must Do Steps Before Selling Your Practice
Introduction

Selling a dental practice is a major milestone. This episode outlines the must-do steps before retirement to help ensure a profitable—and stress-free—transition. You'll get practical advice to maximize your practice’s value and prepare for a smooth sale. Full details are in our source: 10 steps before selling your dental practice.

What You’ll Learn
  • Key financial, legal, and operational moves to make before selling
  • How to evaluate your practice and identify potential buyers
  • Ways to boost your practice’s value before listing
  • Negotiation and transition tips for a successful handoff
  • Steps to ensure continuity for staff and patients
    • Key Segments

    • Assess Your Practice Value

      • Gather financial records and assess production
      • Consider a professional valuation

      • Clean Up Financials

        • Settle debts and organize accounts
        • Remove personal expenses from the business

        • Increase Practice Appeal

          • Make necessary repairs or upgrades
          • Improve curb appeal and office aesthetics

          • Plan for Tax Implications

            • Consult with a tax advisor early
            • Understand the impact of asset vs. stock sales

            • Choose Professional Advisors

              • Work with a broker, accountant, and attorney
              • Get expert input at every phase

              • Prepare a Transition Plan

                • Ensure patient and staff continuity
                • Allow for a smooth handoff to the new owner
                  • Conclusion

                  Preparation is vital when selling your practice. Take these ten steps to ensure you’re financially secure and that your legacy continues with the next owner.

                  ...more
                  View all episodesView all episodes
                  Download on the App Store
                  The 10 Minute Dental Marketing PodcastBy Tyson Downs
                  • 4.9
                  • 4.9
                  • 4.9
                  • 4.9
                  • 4.9

                  4.9

                  18 ratings

                  More shows like The 10 Minute Dental Marketing Podcast

                  View all
                  Crime Junkie by audiochuck

                  Crime Junkie

                  368,661 Listeners