When it's time to sell their practice, many dentists make decisions poorly due to a lack of knowledge and understanding of the impact of the choices being made. Many would-be sellers delay putting their practice on the market as they don't know what to do next and are afraid of a loss of their identity. Others put their practice on the market with little understanding of the value of what they are selling. This course explains the steps involved and how to prepare your practice for sale to optimise the result in price, terms and compatibility with the purchaser.

Topics

• Exit planning – how do you get your practice ready to sell
• Various exit strategies, including walk-in walk-out, the incremental sale, sell and stay on and grandfather options.
• Succession planning – what you need to do now to prepare (and how do you manage the transition to retirement).
• Valuing your practice – what is the value in your dental practice and how to quantify the value.
• Legal Agreements.
• Effective strategies for transferring patients effectively from sell to buyer.
• What to do next post sale – volunteer dentistry, locum, structure working part time or just retire?
• Understanding what you are selling.
• Accountant considerations of exit planning – how do you prepare your accounts for sale and tax implications of the sale.
• Valuing your practice – what is the value in your dental practice and how to quantify the value.

At the conclusion of this session, participants will be able to:

• Identify their likely exit strategy and buyer profile
• Understand the processes and steps involved in a sale
• Identify changes they can make to their practice to make it easier to sell and more attractive to buy
• Understand the legal agreements and complexities involved in the sale of a dental practice.