Plan the Exit from the Profession by Enhancing your Dental Study

Over the next 10-15 years, around 30,000 dentists will retire, while just under 15,000 new graduates will leave the universities. A phenomenon that makes it even more important to know how to carry on the management of the transfer of the dental office because the risk is not to find a substitute for one’s own business and to see the work of a lifetime frustrated.

The sale of a dental clinic today can affect the financial security of a dentist who approaches retirement. In recent years, the marginal income deriving from professional activity has significantly reduced and the sale of dental practices has become a process that can guarantee resources for those who withdraw from the activity.

dental equipment

But not only that, over 60% of dentists currently in business for over 55 years, over 40% for over 60 years. It is therefore conceivable that many studies will be on the market in the next decade.
The commercial transaction must be planned in all details with a good margin of advance. There are numerous aspects to consider: having in mind the financial objectives of the pension, knowing the turnover of the study over the past three years, aligning the dentist for sale with market standards to have a good result.

Customer opinion has become an important element in determining the value of a professional firm. For this reason, it must be enhanced over time.

The “passage” of customers is an activity that the doctor will have to carry out to better facilitate the takeover of the new professional and the continuation of the therapies in progress. The professional who is about to leave the activity will have to share this path through his daily presence in the studio which will decrease over time but which will allow the patient to pass “without trauma” from one doctor to another, trying to explain the reasons that led to the modification of the firm’s organizational structure.

The instrumental assets of the firm are the second element to be valued which together with the clientele determines the overall value of the activity. Keeping the study aligned to market standards with patient traceability through management software is important for the right enhancement.

Human resources are the third element that can make the difference, in many cases the auxiliary staff can be a facilitator of the transition. Once the taxation of the transferor has been calculated, the net value that can be received from the transfer of its business to another party can be determined. Relying on a good consultant is essential given the many variables that emerged during the event.

Tax and legal variables, all consequent to the choices made, the type of structure in possession and how it was decided to organize it. Remember that for all these steps it is possible to turn to experts in the sector who will be able to give a real help in the sale of your dental activity, often this type of help is particularly welcome if you do not intend to spend years looking for the ideal buyer or if misunderstandings are feared due to the lack of familiarity with matters related to the sale or acquisition.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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