23 Oct What Is A Dental Practice Transition?
The term ‘Dental Practice Transition’ is rather self-explanatory. However, there are many details involved in the process that can be quite confusing. Deciding to pursue a dental practice transition is a big decision. One that should not be made without a full understanding of the details involved in this process. Today, we hope to give you a brief overview of what a dental practice transition is. We also discuss a few of the benefits of a successful practice transition.
So, what is a dental practice transition? Simply put, a dental practice transition is the transition of a dental practice from one owner to another. It is different from a dental practice sale in the way that the current owner and the future owner typically work together for a set period of time, usually several years. This creates a smooth transition for both the patients and the staff of the dental practice.
A successful dental practice transition can provide the current owner with an exit strategy that allows them to leave on their terms. In addition to this, a dental practice transition is also beneficial for the future practice owner in many ways.
Hiring Dental Practice Transition Experts
The most important thing you can do as the owner of a dental practice is to establish an exit strategy. Even though it may seem far into the future, there will come a time where you must stop practicing your trade. There are often many emotions involved in this process which creates a stressful and tense situation. Failing to prepare for the eventual sale of your dental practice will leave you with little to show for your years of hard work. Working with the experts at Jaquay Enterprise will provide you with the peace of mind in knowing that your dental practice is left in capable hands. In addition to this, you will also reap the financial benefits of a properly planned and executed dental practice transition.
The first step to working towards a dental practice transition is to meet with the transition experts at Jaquay Enterprise. They will assess whether a dental practice transition is the right course of action for your unique situation. Once your dental practice transition has begun, they will work with you to ensure a smooth process for everyone involved.
Dental practice transitions can be quite complex. Determining the work dynamic and joining the dental practices of two individuals into one is often an involved process. Jaquay Enterprise will assist you in the important negotiations required regarding the terms and conditions of your practice transition.
Successful Dental Practice Transition
A successful dental practice transition is one where all parties involved reap the rewards. With over 17 years of experience in this field, Jaquay Enterprise will work to make this dream a reality. There are several other aspects that define a successful dental practice transition.
Growth of Dental Practice
Although this may be the end of your time working in a dental practice, it is also a new beginning for the future owner. During a successful dental practice transition, there is huge potential for your practice to continue to grow. Working alongside the future owner of your practice for a set amount of time provides for a smooth transition. This will ensure your loyal patients that will be receiving the same high-quality care, even after you leave the practice in new, capable hands.
Satisfied Dental Practice Patients
When a dentist leaves their former practice, many of their patients leave as well. In the event that you are retiring as a dentist, it is always best to leave your loyal patients in the capable hands of a new dentist. A successful dental practice transition will give your patients the knowledge that you are concerned about their dental care in the future.
Financial Gain From Dental Practice Transition
At the end of the day, your dental practice is a business. Because of this, it is important that your practice transition is financially beneficial to you! After years of hard work to grow a practice, it is important to receive the benefit of that work. The dental practice transition experts at Jaquay Enterprise will assign a fair market value to your practice. They will also suggest ways to add value to your dental practice before pursuing a practice transition. Selling your dental practice for the current market value provides you with the financial stability to pursue the next season of your life.
When pursuing a dental practice transition, it is important to hire trained professionals to assist you in the process. The experts at Jaquay Enterprise guarantee a smooth and successful transition that is beneficial to you, your staff, and your loyal patients. Pursuing a dental practice transition is the best way to assure that your dental practice and many years of hard work are left in capable hands.