Thinking Of Selling Your Practice?

Are You Looking To Sell Your Practice?

At 1st Med Transitions, we understand that Selling A Practice on your own can be a difficult and time consuming task. You may be asking yourself... is now the time to sell my practice? Whether you are ready to sell or just starting to entertain selling your practice, our transition advisors are happy to discuss your options.

We know that you have invested years of hard work and sweat equity into your Practice. When it comes time to sell your practice, you want to have the right team in place to help and support you every step of the way. At 1st Med Transitions, we have developed a streamlined process to generate the most potential buyers in the least amount of time and maximize the sales price of your practice.

STEP #1  Sales Consultation

This is the first and most important step in the process. We will discus your goals, objectives and timeline for sale and of course, answer any questions you may have. We will asses your current situation and provide you with our opinion on what the market will potentially bear for your practice.

STEP #2 Practice Valuation

If we decide to move forward with a valuation review, your transition advisor will request financial's, practice reports and a practice profile to be provided. Upon review and analysis, your advisor will present his opinion of value for the practice and discuss the optimal pricing and marketing strategy.

STEP #3 Listing Period

Our goal is to maximize the pool of buyers who have a chance to review your listing. The more competition we can generate for your practice, the higher the potential for sale and maximum income. We accomplish this through our extensive Marketing Verticals including Paid Search, SEO, Email, Social Media, Industry Web sites & Forums, Direct Mail to Home and our always growing database of 30,000+ Dentist Nationwide..

STEP #4 Review Offers

One of the most overlooked part of the Practice Sales process is the sales negotiation. Every contact between buyer, seller and broker, from initial discussion to closing, is an opportunity to lay the groundwork for future negotiations. One single event does not typically lead to the successful sale of your practice. It is a combination of the presentation, offering memo, timely communications and direct industry knowledge that lead to a win-win negotiation.

STEP #5 Due Diligence

We've accepted an offer, but our work is not done. The difference between a closed transaction and a failed one, can many times comes down to the attention to details. We will work with the buyer on reviewing the books, practice reports, securing financing (if needed) and sales contract negotiations.

STEP #6 Closing & Transition

There are a number of aspects that lead to a successful closing - deal structure, non-competes, escrow, representations and warranties and transitions agreements. We stay on top of every step in the process from the marketing, letter of intent, due-diligence to the purchase & sale agreement and ultimately closing.

The sale is finally closed, but our job is not yet complete. Perhaps one of the most important, but often overlooked parts of the sales process is the Post Close Transition Period. There are many factors to consider, including credentialing, procedures and systems training, employee management, insurance transfer, etc. Our Transition Advisors make sure both parties are comfortable with the plan and are always available to help execute it.

To get started, complete our Practice Sales Consultation Form Here and one of our experienced practice transition advisors will contact you within 24 hours.