Your first step before placing your dental practice on the market is to determine it’s worth. This can be done through a practice appraisal. Many things make up the overall value of your practice. Our comprehensive dental practice appraisal and prospectus covers many factors through analyzing things like your staff resources, location, equipment, fee structure, and patient base. In many cases, we may determine ways to improve your practice. You may not even be ready to put your practice on the market, and in that case we also offer a limited valuation for use in preliminary dental practice transition planning.
As members of ADS, we are able to formulate appraisals based upon a comparison of similar practices. This is due to our access of the nation’s largest database of practice sales data. We run an advanced income and cash flow analysis of each practice appraised, and are able to use sales information from previous transitions to help us accurately gauge the market value of your current practice.
We must warn you against receiving a free appraisal from brokers that in turn ask for the seller to sign a listing agreement. These appraisals tend to be inaccurate. An accurate practice appraisal requires careful and detailed data collection. Knowing the value of your practice before signing a listing agreement, and especially before a broker markets your practice for sale, will help your achieve your transition goals.
An honest appraisal of your most valuable professional asset will be where your dental practice transition begins. Contact us today to explore the valuation of your dental practice.
Below are questions to consider about Dental Practice Appraisals: