a buyer acquires your practice for a pre-determined fee. A potential retiree would benefit from a very short transition period, which normally lasts three months. The seller may offer to work part-time to assist the buyer, employees, and patients with the transition.
A specified buyer purchases a set percentage of the practice for a certain negotiated price. In this situation, dental practice transitions will do a personality assessment in addition to a practice analysis to assure compatibility.
Associate to buy-in
A group of colleagues courted a possible buyer to buy-in over a set length of time, road-mapping the ease of transfer. Rather than making judgments on the future of the practice, this gives time to examine compatibility; and ownership distribution.
Associates are easy to locate, and this path allows you to keep complete control over the transition. Everything is agreed from the start and expectations are often not realized by both sides, and only 20% effective.
Joining two dental practices to form one business with equal partnership is a tried-and-true strategy as long as compatibility is proven beforehand and duties and income are evenly split and agreed.
This option transfers most of the practice to a larger entity, often a DSO or a group, with the goal of gradually transitioning out of your dental practice and handing over clinical responsibility to the buyer.