DENTAL PRACTICE SALES
The dental industry is very active with regard to buying and selling dental practices. It is becoming increasingly common for dentists to purchase existing practices and for owners of existing practices to sell and retire. Selling a dental practice can be a complex process, but it can also be rewarding if done correctly. A dental practice transition specialist can help guide you through the process, helping to ensure that everything runs smoothly.
We here at Cohen Law Firm recognize that most dentists need help in the field of law, particularly when it comes to dental practice sales. Dentists are selling their practice and soon realize that it’s not as easy as turning over the paperwork to the buyer. The same thing applies to the buyer side. It’s not just a matter of writing a check.
Getting the Protection Needed
Both parties need to be protected. Both the buyer and the seller have interests to protect. Of course, dentists selling their practices want hassle-free dental practice transitions and want to get the most out of the practice that they are selling. On the other hand, buyers want to make sure that they are not buying headaches together with dental practices.
We’ve witnessed parties taking matters to court just because they didn’t get a firm that focuses on smooth dental transition. This is what we’re looking to avoid. There’s a reason why you want to buy or sell a dental practice, and that’s not to go to court. This is why you need to be protected.
Services that You Need
You’ll be surprised to know that a law firm like Cohen Law Firm can help you in so many ways when it comes to selling or buying a dental practice. Here are the services that you can take advantage of:
- Independent contractor agreements (review and negotiation)
- Incorporation of dentist entities
- Writing and reviewing of sale, title and lease documentations
- Maintenance of the non-profit organizations of the dentist
- Structuring of the practice’s interactions
- Workouts and restructurings
- Anything related to acquisition, development and financing
- Forming of LLCs and partnerships
- Negotiating of the joint venture and sale agreements
These are just some of the services that encompass dental practice sales but you can already see why it’s a must that you get legal representation for a streamlined transition.
Why Hire the Specialists?
A lot of dentists are unfortunately under the impression that they can just hire a law firm without taking their specializations into consideration. Let’s put it this way. If you’re looking to get divorced, you’re going to hire a divorce lawyer. If you’re charged with DUI, you’re going to hire a DUI lawyer. This is why it follows that if you’re looking to sell your practice, you have to hire a firm that focuses on dental practice sales.
Dental law firms have competent and experienced attorneys to handle various tasks involved in dental practice transitions, including drafting the sales agreement, reviewing documents and verifying information, and preparing necessary forms and paperwork. They are familiar with the rules, regulations, and laws that apply to dental practice sales.
Some firms also offer you a list of dental practices for sale and have the experience to help you find a qualified buyer. From general practice sales to orthodontics and endodontic practice sales, they can connect you with buyers interested in purchasing a practice. Moreover, you can learn about sellers who refer to most specialty procedures and how to maximize your practice’s value and prepare it for the transition.
Benefits of Hiring a Dental Practice Sale Lawyer
Here are the benefits of hiring dental practice sale lawyers:
- Dental practice sale lawyers can help you sell your practice easily since they have access to interested buyers.
- They are experienced when it comes to putting together the paperwork needed for the sale. They can advise you on the best ways to maximize your practice’s value prior to selling it.
- They’ll have your best interest in mind. Whether you are searching for a dental practice that offers open dental software, ample parking, or a patient base of PPO patients, they can help you find it.
- They’ve embraced the industry as their own, so they know the ins and outs of accomplishing a wonderful job.
- They’ll know what to do, so they won’t bug you with questions regarding your practice.
- They can help protect your interests as the seller.
- They can answer all of your questions, from appraisal to the sale itself.
- They have built relationships with people that matter, including but not limited to bankers, consultants, accountants, insurance agents, and more.
What about Buyers?
Are you looking to join the lucrative dental practice industry? You have to know the right people in order to be presented with the best opportunities. As you’d probably imagine, there are a lot of factors that you have to consider. These include your budget, requirements, location, size of the practice, cash flow of the practice, existing customer base and more.
First of all, you need to get in touch with a licensed agent or broker that can help you be presented with the right opportunity. It’s a significant investment so you have to make sure that you’ll be grabbing the best opportunity for you. This is especially true if it’s always been a goal of yours to be in this industry.
Cohen Law Firm can present you with listings. Cohen Law Firm is trusted by sellers so there won’t be a shortage of investment opportunity for you. The listings are constantly updated to remove sold listings and add new ones so get in touch with Cohen Law Firm if you see a listing that you’re interested in.
Cohen Law Firm also has the experts needed to make the process as streamlined as possible. Cohen Law Firm is known to protect the interest of sellers, but it’s also known to protect the interest of the buyers as well.
Contact Cohen Law Firm Now
Cohen Law Firm is a trusted name when it comes to dental practice sales. Contact Cohen Law Firm if you’re looking to buy or sell a dental practice.