Negotiate a Dental Practice For Sale?
Even though you have been successful in developing an attractive dental practice, search parting with it can be one of the more emotional moments in your career.\n\nHaving to deal directly with the buyer can be a very daunting and can lead to catastrophic outcomes. Your extensive education did not necessarily prepare you for this moment. The skills that you developed in establishing your career were singularly directed.\n\nWithout having a buffer, such as a professional practice transition specialist, ProMed Financial, Inc., the buyer encounter can be overwhelming.\n\nBuyers provided by ProMed Financial, Inc. will have executed a Buyer Confidentiality Agreement as well as received instruction on the proper etiquette and protocol when meeting the seller. The first being not to discuss price!\n\nEven though explicit instructions have been relayed to the interested buyer, there is no guarantee that this will be followed. Therefore, to alleviate potential problems, we suggest that the practice be shown at night to eliminate the risk of upsetting your staff. Remember your staff is a key element in the transition and taking precautions not to alert them of the sale is very important. By jeopardizing confidentiality, staff members may overreact and be uncertain about their job security. This could result in having them pursue other employment opportunities.\n\nWe have several doctors who have tried to sell their own practice and have experienced some of the downfalls spoken about.\n\nSellers can fall prey to being put on the spot and make promises that would not be ultimately beneficial. We highly suggest from decades of catastrophic seller stories that you bypass experiencing this fatal encounter. ProMed Financial, Inc.. Skillfully will take charge of the negotiations and provide necessary documents for offer presentation by the buyer.