dental business

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Prepping Your Dental Practice for Sale

by admin on June 10, 2020 No comments

dental practice sales transactionBy: Chase Howard

Thinking About Selling Your Practice? Preparation is key and the difference between a successful sale and seller’s regret.

Step 1: Call Your Financial Planner

  • Be sure that you can afford to leave the business
  • Most buyers will require a comprehensive non-compete and you should be certain that you are financially prepared to retire, sell, or move before signing any restrictions.
  • You will also want to ensure that you are planning for the income you are about to receive. Are there vehicles in place or options that are best to ensure the purchase price is put to its best use for you.
  • Consider post sale options if not retirement – are you going to be employed by the buyer? Are you selling to an associate and will phase out? Are you just moving and will need to find new employment/open a practice?

Step 2: Visit Your Accountant

  • Your business is only worth as much as can be defined on paper.
  • If a potential buyer cannot make sense of your accounts and assets, you may leave significant value on the table.
  • Get your financial history in order by reviewing tax returns, profit statements, AR reports, and payroll history for prior 3-4 years.
  • Clean up creative bookkeeping – you will have to promise the buyer that your financial statements are true and accurate.
  • Have your accountant help value assets of your business – or use an appraiser if necessary.
  • Discuss company structure – there may be restructuring needs or you may need to transition to a different structure for tax purposes.
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Webinar | Prepping Your Dental Practice for Sale

by admin on April 7, 2020 No comments

dental practice for saleChase Howard will present this live lunch n’ learn webinar for attendees interested in learning more about how to effectively prepare for the sale of their dental practice. He will cover issues like who and when to contact when considering a sale, proactive steps to lessen business disruption, when to tell your employees, and other important transition topics.

Preparing your dental practice for sale is quite possibly the biggest decision one can make! Understanding the legal landscape, the investment trends and options as well as what can optimize your business’ sale is essential. This webinar platform provides attendees to ask questions and chat directly with a highly qualified health law attorney.

April 22 @ 12:00 pm – 1:00 pm

Free

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