FAQ for Sellers
|If you have any questions not addressed here, please feel free to contact Reasor Professional Dental Services at any time.
Why don't you have any practices listed for sale on your website?
That's easy! Because we actually SELL the practices that we list for sale. Have you notice that those other guys don't show the date of the original listing? Have you wondered by the practice is still for sale, if the brokers have, as they claim, thousands of interested buyers lined up? What's wrong with the practice for sale? What's wrong with the buyers? The key to successful practice transitions has nothing to do with the number of practices listed and the number of buyers in the database. Reasor Professional Dental Services carefully matches sellers with buyers so that practices are sold quickly, with a minimum of the "haggle and hassle" treatment you'll find with other brokers.
Should I sell my practice or not?
Every doctor who owns a practice should eventually plan to sell. With proper planning and assistance, many will get paid well for their life's work. Others will miss opportunities because of fear or misinformation and will net only a fraction of the worth of the practice.
When is the right time to sell a practice?
As dentists grow older, their needs and circumstances will change. Their capabilities and stamina also adjust as their biological clocks wind down. Other changes can be a product of disability, divorce or simple burnout.
You should try to set the sale of your practice as a carefully planned event. If a personal crisis dictates the sale, the sale becomes more difficult and the risk of lost revenue is much greater. Selling out of necessity takes you out of the driver's seat.
For best results, plan early so that you can control the outcome. The longer you wait, the opportunity to plan and direct the course of the sale diminishes.
Why not bring in an associate and have him buy the practice at a later date?
We know from experience that in the dental world, the odds against an associate ever buying into a practice are overwhelming. Over 90% of associateships fail. Associates are not equally committed doctors and that is why they leave. If you hire an associate without requiring an immediate equity investment, plan on him or her leaving eventually.
What is the first step if I think I might want to sell my dental practice?
Every doctor's situation is unique, so the first step is to fill out the Confidential Seller Interview Form on this website. This gives us some insight into you and the timeline you envision for selling your practice.
The form will be forwarded to Dr. Buck Reasor, President of Reasor Professional Dental Services. He will review the information and make a confidential phone call to open a dialogue with you as to the current status of your practice, what you can do to increase the value of your practice and the best time to sell.
You can also call Dr. Reasor directly at 503-680-4366. He would be more than happy to answer any questions you might have about when, why and how to sell your practice.
What should I tell my staff?
In the early stages of the process, it is smarter not to get staff and patients nervous about the potential transaction. Once appraisals and potential buyers are identified it will be time to inform them. When that time comes, the right management of the transition will mean they can view it as an opportunity rather than a problem.
What kind of financing is available?
Even in challenging economic times, finance companies, banks, and SBA loans are available to help qualified buyers. Banks will loan money to businesses that show a strong earnings history on their tax returns. In addition, most sellers are receiving cash at closing, and this eliminates risk to the seller in regards to late payments or defaults. See our financing page for more information.
We maintain working relationships with every major banking and financial institution involved in financing dental practice acquisitions. These one-on-one relationships with the decision makers in these institutions allow us the broadest access to methods of funding your sale. We have no financial ties with any of our lenders—the only thing we receive from them is excellent service.
Why do I need a dental practice broker?
The selling of a dental practice is a complex process that involves many elements that most successful dentists are not exposed to in the day-to-day operation of a dental practice. Few dental practice owners have the time to study and understand the complexities of selling their own business.
During the process, the seller's job is to run the practice as if he were going to keep it. This maintains the value of the practice. The broker's job is to confidentially market the practice: find and educate the buyers, negotiate the terms of the sale, and provide a buffer for the emotional highs and lows that we all experience. Someone familiar with the nuances of selling a dental practice will prove an invaluable asset.
What is the advantage to working with Reasor Professional Dental Services as opposed to other dental brokerage firms?
At Reasor Professional Dental Services, we maintain your confidentiality, establish the right selling price, properly research highly qualified buyers, utilize a worldwide network to advertise your practice and help you manage the intricacies of the sale. Buck Reasor knows the process first hand: he bought a practice, built it up and then sold it successfully. In addition,we are licensed real estate brokers so we can make the sale of your practice and your building one process. Our years of consultation expertise can help you achieve a smooth transition for you, the buyer, your staff and your patients.
Our goal is always to obtain the best deal for each client. Our service, dedication and drive are your guarantee that if you are prepared to sell your dental practice, we are ready to sell it for you.
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