There are a number of laws and rules regulating the dental industry in Florida. The sale of a dental practice is regulated by these laws.
It is imperative to not only stay in step with all the legal practices and procedures to protect against liability issues down the road but also to ensure that you get the most profit possible from the business you’ve worked so hard to create.
Know the Cost of Selling Your Dental Practice
Before you begin the process of putting your dental office up for sale, it’s a good idea to know all the costs involved. Speaking with your accountant to better understand the tax implications and how to manage equipment issues, unsold goods, employee transfer, and more can help you determine when might be the right time to sell. In some cases, it may be prudent to postpone a sale by a few months or years to get everything in place.
Know the Value of Your Dental Office
A proper valuation should be done prior to putting your dental office up for sale, so you know you are asking a fair price. Avoid any company offering to do this for free as it likely will not be done thoroughly.
During the process, keep up a steady level of patient care and continue to take on new patients. This will ensure that the value of your practice does not drop.
Choose a Healthcare Law Firm With Dental Experience
It will save you thousands of dollars in the long run to work with an experienced law firm who knows the ins and outs of the paperwork, the questions you should be asking, and the lay of the land in the dental community in your area.
Contact Florida Healthcare Law Firm today to begin the process of preparing your dental office for sale.