The best month to Sell Dental Practice in Arizona is January because dental associates tend to buy a practice of their own at the beginning of the year. Some dentists think that putting their practice on the market in May, when new dentists graduate, is the best time, but that is not the case. New dentists will need at least one or two years of experience before they can qualify for a loan, some will want to continue with their education, and many are not in a hurry to carry the burden and pressure of their own practice.
Autumn is also a good time to put a practice on the market, but there really is no wrong time to sell a practice, especially when utilizing the services of a broker. Brokers have a database of listings in several areas and also have information on buyers who are waiting for a practice that suits their needs, location desires, and budgets. If a dentist is ready to retire, it is important to keep in mind that it can take several weeks for a broker to review all the financial aspects of the practice. That is the first step to determining the value of the practice. Experienced brokers, like Western Practice Sales Arizona, for example, offer free valuations of practices to dentists. From that point, an asking price is set and the practice is placed on the market.
The process to Sell Dental Practice in Arizona can be stressful, so a dentist is better off with a brokerage firm rather than trying to sell the practice alone. A firm has a team of brokers, accountants, lawyers, and support staff to handle the transaction from beginning to end. The dentist is free to make retirement plans, continue practicing, and keeping the value of the practice maintained until it is sold. The income generated by a practice is the main factor in a valuation, but a few other factors are considered as well. The size of the practice, the location, the type of dentistry practiced, and the experience of the hygienist, assistants, and support staff are also factors in a valuation.
