Emotional Aspects Planning Selling Your Practice

The Emotional Aspects of Selling Your Practice

By Philip Kempler, DMD, Broker
Thomas & Fees Practice Sales

“Why do you want to sell your practice?”

That’s the first question I ask when I meet with a prospective client. It’s important because many times the client is not selling for the right reason. Selling the practice is a permanent solution while the reason may be temporary. Maybe the dentist is just burned out or is experiencing personal issues or stress that can be resolved. And if the problems could be resolved, selling the practice would be a total mistake. A good Broker will help a prospective client explore alternatives, like bringing in an associate or cutting back the hours worked, before taking a listing on the practice.

On the other hand, there are reasons why it might be the right time to sell the practice. Perhaps you have a physical or mental impairment that is preventing the delivery of dental care. Or perhaps you have the financial ability to retire and want freedom to explore other interests.