Should I use a broker to sell my dental practice?

Selling a practice is a project on top of a full clinical schedule. Some owners are glad to hand part of it to a broker; others have a buyer in mind and prefer to keep it simple. Neither choice is wrong. What matters is knowing what the work involves and who will do each part, so you decide with the full picture rather than by default.

Keeping the sale quiet

Patients, hygienists and associates can all react to news of a sale, and word travels quickly in a small office. A broker can market the practice without naming it, and can ask interested buyers to sign a confidentiality agreement before they see details. If you go without one, plan how and when you will tell your team, and keep early conversations private.

Reaching the right buyers

Buyers include associates, other dentists and dental groups, and each wants something different. A broker who works in this field may already know who is looking. Ask how they would reach buyers and how they would screen them. Your own contacts matter too. Selling to a group or to another dentist compares the two routes.

Preparing records and choosing a broker

Whoever sells, buyers will want clear production, recall and staffing records. A broker can help assemble them, though you will still need to supply the facts. When you interview brokers, ask the following.

• How many dental practices have you helped transition, and how recently?
• What is your process from first meeting to closing?
• How are you paid, and what does the agreement say if the sale does not close?
• Who will actually handle my file?

If an associate already wants to buy, a sale between the two of you can work, with your lawyer and accountant doing the paperwork. See how long a sale usually takes to plan the timing.