Dental Practice Broker Articles
Why You Should Sell Your Dental Practice?
As you probably already know… timing is crucial when selling your practice. But, how do you know when it’s the right time? Let’s take a look at the reasons why selling your practice is a good idea to make sure you’re totally on board.
You No Longer Want to Practice Dentistry
After years of commitment to the profession, some dentists find their interests are distracted by other avenues. If dentistry is no longer your passion and you do not have the desire to help people anymore, your efforts may be better directed to other pursuits. When you realize your heart is no longer in your work, it may be time to sell your practice.
You Are Ready to Retire
When you reach retirement age and no longer have the steam to take you through long days, it may be time to part with your practice. This should only happen when you have achieved real financial freedom and have a comfortable pension that can take care of your financial needs.
You Are Emotionally Comfortable Leaving the Practice
Selling your practice will certainly affect your daily life. You will no longer be able to chat with six different people every day. You will not have the management and financial pressures that go along with it. The bottom line is that a major change in your routine requires careful planning in order to make your transition as stress-free as possible.
Ask yourself: what will you do once you sell your practice? How will you motivate yourself everyday? What will you do with your free time?
You Have a Physical or Mental Impairment
In the event that you become physically or mentally impaired, selling your practice is a responsible choice that could benefit you and your patients. Some dentists decide it’s the right time when some kind of impairment affects their ability to perform their work to their existing standards.
You Want to Leave the Profession
You may not like your industry and its players. You may feel jaded by dealing with the same kinds of issues over a long period of time. Some dentists become demotivated with their profession, in which case, the responsible choice is to sell their practice and pursue other interests.
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