Market your dental office for profitable results. No matter how successful your dental practice is, sooner or later a time will come when you think about retiring and selling.
To do this, you need an exit strategy. You can also consult with professionals at Ash Dental CPA to sell your dental practice in Framingham with more profit.
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Whether your exit strategy is to keep your dental practice in the family by passing it on to children or other relatives, selling it to coworkers, or leaving it to your partner, here are some things to do:
1. Know the value of your dental practice
The monetary value of your practice depends on a number of different factors: your assets, the size of your client list, and the profits you receive, to name a few.
It's a good idea to have a professional judgment as part of your exit strategy to make sure you understand the value of the internship before making a decision to sell.
2. Arrange your documents in the correct order
When the time comes to sell your practice, you need to prepare one book at a time.
Things like insurance policies, tenure documents, employment contracts, and mortgage information should be available to potential buyers, and you should also have full copies of your accounts and patient records.
Ensure that you now have a stable accounting and financial system, should be part of your exit strategy, and facilitate the actual sales process in due time.