Business Broker for Dentists Orange County – How to Increase the Valuation of Your Practice

There are many reasons why you might want to sell your dental practice. The top reasons dentists sell are because retirement is looming or they wish to relocate. Whatever your reason for selling is, the first professional you must consult is a business broker for dentists Orange County trusts. In addition to helping with the sale, the business broker will vet your reason for selling and help you set a fair selling price. In this post, the focus will be on how to make your dental practice more valuable before getting it listed.

New patient flow

Your biggest asset as a dentist is your patient base. As you prepare to sell, you have to look at your list of active patients. Keep in mind you will lose about 10% of those patients by the end of the year. This is common and happens even to companies with the best customer retention rate. You must, therefore, come up with a strategy of gaining at least 10% new clients every year. Your business broker for dentists Orange County depends on, will tell you right away that having a consistent flow of new patients in your clinic makes your practice more valuable and easier to sell. Besides, if you cannot attract new patients, how will the new owner predict the future success of your practice?

A business valuation will help identify your practice’s strong and weak points. You can use this information to make your practice more effective and attract more patients.

Adopt new technologies

Being old school as a dentist can only take you so far. Your lack of modern technology might be why you are losing patients and not attracting new ones. You don’t want to keep referring your clients to another dental office for X-rays, do you? If your clinic lacks digital X-ray sensors, an appraiser will deduct the cost of this investment from the final valuation figure. If it is not deducted, it will be added as a point of negotiation or contention with prospective buyers. You can avoid these issues by being up-to-date with the best technologies.

Strong staff

Buyers are not interested in clinics that have unqualified and inexperienced staff. Therefore, working on creating a strong team will significantly impact the value of your dental clinic.

Appearance

First impressions do matter. If lots of upgrades will have to be made by the new owner, the cost of these upgrades will be deducted from the final figure in a comprehensive appraisal.

Net profits

At the end of the day, the value of your dental practice will be greatly influenced by how profitable it is. Buyers focus on the financials. If you have been making losses or simply breaking even, your practice will not be as valuable. Focus on creating healthy operating statements.

Business Broker for Dentists Orange County

What Client’s Say

We Couldn’t Be Happier

"When we thought about selling we had no idea what our business was worth or how to go about selling. What you were able to do was to cut through the fog so that we understood the valuation issue and had a comfort level with the process. As you know we ended up selling for somewhat more than the original valuation and we got all cash and our CPA loved the way our tax liability was minimized. We couldn’t be happier!"

Over $250,000 More

"Our first contact with you shocked us when you suggested that we wait 18 months before selling because you believed that if we hit our projections that the value would be significantly greater. As it turned out we not only followed your advice but also got slightly over $250,000 more than we originally had hoped for. It is seldom that we have had the opportunity to deal with a firm that doesn’t want both money and a commitment NOW. It was clear and obvious that you had our best interests at heart."

You Got the Valuation We Agreed On

"You did a great job on the sale of our business in really beating the bushes for buyers, including a UK company that was an active suitor. You managed to get the valuation that we had all agreed upon and got it substantially all in cash and got the transaction closed with little to no problems or expensive lawyers involved."

Thank You for Handling Our Business

"Our business was smaller than what your firm normally handles but it was a BIG part of our net worth and savings. Thank you for handling our business and we were very pleased and delighted with the results."

More Than Anticipated

"Our transaction was involved as we had different corporate entities located in different states. Our only regret is that we didn’t retain your services before 2012 when we paid $25,000 to a firm in Texas that did a valuation and market analysis for us before then failing to do anything in the way of trying to sell our business. You got it sold for more than anticipated."

New patient flow

Adopt new technologies

Strong staff

Appearance

Net profits

The Sales Process