There are several important questions a buyer must ask before closing on the sale of their new dental practice. It is a complex process, but AFTCO can help to easily guide individuals in the right direction for them personally. Continue reading to learn of six questions to ask when buying a dental practice.
An important thing to first consider is the location of the dental practice, especially in comparison to where you reside. It should also be noted to think deeply about the type of dentistry you will practice and the income expected for the long run.
Many dentists are willing to stay on to help ease the transition. This can help with patients, referring doctors, and fully understand the office process. It is encouraged for you to make your own name in the practice. Generally, dentists should stay on for no more than six months.
Consider the surrounding dental practices, population, and household income to best decide if the location is right for you.
An individual will also need to consider the types of dental work that are being and will be performed in the practice. This can give an opportunity for changes or improvements.
Consider the time it will take to properly run a successful dental practice before making the commitment.
When the purchaser allows and encourages the staff to stay, it helps to ensure a smooth transition without loss of revenue.