Consani Associates, Ltd. wants to ensure you're prepared to the fullest extent before deciding on selling your practice. We've answered a few common questions sellers frequently ask. If you have a question that isn't found in this list, please click the "Ask a Question" button and ask away.
How long will it take to sell my practice from the time I list?
The old adage, "Location, location, location" does have an impact on a sale/transition. In a good area, the transaction can happen in as few as 6-12 weeks from the time the valuation is completed. In a rural or an area in less demand it can typically take longer. In that type of situation it is realistic to assume it could be 2-5 years---if indeed it does sell. However, the length of time depends not only on the practice location but also on many other variables.
I have read that dental practices are worth 70% of their gross receipts averaged over the past three years. Is that true?
While three years of financial information is important to determine the value of an office, rules of thumbs are simplistic and don't usually provide the correct value. To find out the true value of a dental office an expert in transitions should be consulted to conduct an evaluation or full appraisal on the practice.
When Consani Associates, Ltd. lists my practice for sale, how will it be marketed?
In addition to the Consani Associates, Ltd. website, Consani Associates, Ltd. has an exclusive relationship with Dental Economics which publishes all listings on a monthly basis. Additionally, Consani Associates, Ltd. publish and distribute a newsletter to over 1,500 potential purchasers that are actively looking and have registered with us.
Will my patients accept a new dentist?
Your patients will accept a new doctor if the introduction and transition are handled the right way. Your endorsement, coupled with staff acceptance and enthusiasm, is the key.
Will I have to carry a note in the sale of my practice?
In nearly all cases it is possible for the buyer to secure 100% financing so you will be paid in cash at closing.
How do you appraise a practice?
We utilize four different methods which we weigh and average in order to determine fair market value.