Selling a Dental Practice
In this section, we cover what you need to know before you consider selling your practice.
There is plenty of scope to make a good profit from the sale of a dental practice. However, it’s important to make sure that selling is really the best option, and that the practice is in the best possible position to achieve a good sale price. Making changes to plans half way through, and withdrawing a practice from sale, can only have an adverse effect on the reputation of the seller.
EBITDA may form the basis of determining the value of a practice, but the sale price must be competitive. Being over ambitious with the sale price is only likely to reflect badly on the seller, and can seriously restrict the amount of interest there is in the property.
Making use of specialist dental sales brokers, dental accountants and dental solicitors is essential, if the sale is to progress efficiently. They have the knowledge and expertise that is needed to market the practice effectively and ensure that all aspects of the sale are dealt with in the correct manner.
The process of due diligence is an important aspect of the successful sale of a dental practice, so it’s important for the seller to have all of the relevant information prepared, prior to the start of the sale process. Once the sale is completed, it’s important for any seller to consult with a specialist dental accountant and tax expert regarding the matter of reducing the amount of Capital Gains Tax payable, if possible.