Another way to transition your practice would be to 'merge' your practice with another practice in your area. The number of solo dentist practices in the nation is decreasing and the number and popularity of groups are increasing. The group dynamic offers many benefits to today's dentists with a better work-life balance. Many new dentists are electing to work in a group atmosphere where they will not have the demands that go with practice ownership. Because of the decrease of potential buyers, a merger may be a viable exit strategy for the selling dentist.
As a DSO Specialist, I work with many of the larger Dental Service Organizations throughout the nation. I have partnered with them to help them find additional practices to merge into their existing practices. This unique approach has become a win-win for both the selling dentist and the organization.
A practice merger earns a premium for the transitioning dentist and offers options other than a delayed buyout, or an outright sale. In most instances, there is a full cash buyout for the practice and possibly the real estate. The transitioning dentist will also have the flexibility to continue working or simply walk away.
If you would like more information on the options available to you, contact us and we can see if your practice is located in an area where there is a need for practices.
Contact us today to learn more about how we can help you. We offer a wide range of services such as practice sales and transitions, mergers, associate placement, transition consulting for future sale, and buyer representation. Give us a call at 727-376-2299 and we will take it from there.