Retire Smart: 10 Must Do Steps Before Selling Your Practice
Introduction
Selling a dental practice is a major milestone. This episode outlines the must-do steps before retirement to help ensure a profitable—and stress-free—transition. You'll get practical advice to maximize your practice’s value and prepare for a smooth sale. Full details are in our source: <a href='https://blog.titanwebagency.com/dental-retirement-planning'>10 steps before selling your dental practice</a>.
What You’ll Learn
<ul>
<li>Key financial, legal, and operational moves to make before selling</li>
<li>How to evaluate your practice and identify potential buyers</li>
<li>Ways to boost your practice’s value before listing</li>
<li>Negotiation and transition tips for a successful handoff</li>
<li>Steps to ensure continuity for staff and patients</li>
</ul>
Key Segments
<ul>
<li>
Assess Your Practice Value
<ul>
<li>Gather financial records and assess production</li>
<li>Consider a professional valuation</li>
</ul>
</li>
<li>
Clean Up Financials
<ul>
<li>Settle debts and organize accounts</li>
<li>Remove personal expenses from the business</li>
</ul>
</li>
<li>
Increase Practice Appeal
<ul>
<li>Make necessary repairs or upgrades</li>
<li>Improve curb appeal and office aesthetics</li>
</ul>
</li>
<li>
Plan for Tax Implications
<ul>
<li>Consult with a tax advisor early</li>
<li>Understand the impact of asset vs. stock sales</li>
</ul>
</li>
<li>
Choose Professional Advisors
<ul>
<li>Work with a broker, accountant, and attorney</li>
<li>Get expert input at every phase</li>
</ul>
</li>
<li>
Prepare a Transition Plan
<ul>
<li>Ensure patient and staff continuity</li>
<li>Allow for a smooth handoff to the new owner</li>
</ul>
</li>
</ul>
Conclusion
Preparation is vital when selling your practice. Take these ten steps to ensure you’re financially secure and that your legacy continues with the next owner.

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