In California, the choice to sell your practice doesn’t have to become stressful. Whether you are relocating or retiring, the step offers the end of one journey and the start of something new. A local brokerage firm offers to assist and shows you how to sell your dental practice in California.
List the Property with a Broker
The first step in selling your dental practice is to list the property with a broker. Real estate firms and brokerages plan strategies for advertising the dental practice and attracting more buyers. The process involves online outlets to advertise the property as well as social media. The brokers also introduce prospective dental professionals who want to relocate into the area.
Terms of the Sale
The terms of the sale could include contingencies. If you need to find another practice before vacating, the contingency terms are added to the sale. The sales contract will determine how long you have to relocate and offer access to your current practice to the new buyers. The area in which you wish to move introduces a few other relevant factors to the sale.
Does the Staff Stay?
If you are relocating, you must determine if your existing staff is moving with you. Dental practice sales often include clauses that protect existing workers. If your workers want to remain at the practice, you have the option to add their employment into your sales contract. You must also identify terms for termination that lowers the chances of unlawful termination of your staff.
Retiring or Relocating
Your patient roster is another relevant factor associated with the sale of your practice. If you are retiring, the inclusion of your patient roster is more attractive to prospective buyers. If you are relocating, you don’t have to include the roster if you are still in the same service area.
In California, a dental practice sale offers a chance to start a new chapter in a dental professional’s career. A broker offers assistance with the sale by providing advertising strategies to attract buyers. A sales contract is created that explains all contingencies and inclusions for the transaction. If you need to learn more about how to sell your dental practice in California visit website for more information right now.
