3 Benefits of Hiring a Dental Broker
A dental broker's job is to guide you through each step in the transition process of a dental practice. They've undergone training, which gives them the expertise to take you through every moment of dental practice transition, including purchasing or selling a dental practice, valuing a dental practice, and from the previous owner to the new one.
If you're still confused about hiring a dental broker for your dental practice transition, the following are some of the major benefits of doing so.
- Best Valuation: Whether you are buying a dental practice or selling it, you want to make sure you're getting the best value. A dental broker can provide you with accurate assessments and valuations for any dental practice. Since they've been longer in this practice, they are already aware of exactly what factors need to be considered when valuing a dental practice.
- Contracts & Negotiations: Valuing the dental practice is only the beginning. The real work begins after the valuation is performed, and it can move pretty fast from there. The negotiation process can be very tedious, especially if you don't have prior experience. A dental broker will start the negotiation process for you and go back in forth with the other party until they can reach an agreement. They will then help you create and review the contract and ensure that you correctly understand the contract's details.
- Transitioning: If you're selling a practice, getting everything to hand off to the new owner can get challenging. On the other hand, it can be even more overwhelming to step in and take responsibility for an already established dental practice. A dental broker will guide you through this transitional phase and make sure you have everything you need to get through this phase successfully.
If you plan to put up your dental office for sale or are looking to buy an established dental practice, consult CTC Associates now. We work in Utah, Colorado, Arizona, New Mexico, Wyoming, Idaho, Alaska, and Hawaii and will guide you through everything you need while buying or selling a dental practice.