If you own a small or medium sized dental company or dental practice you probably have some emotional ties to it. Your father or a relative started the business or you personally have grown the business. You may be contemplating selling the business and reaping the rewards of all the years and possibly generations of hard work.
One thing to keep in mind is to try and keep your emotions in check as you get ready to sell and through the sale process.
1. Have realistic expectations about your selling price. Absolutely try and get top dollar for it. Remember that while brand and legacy do have value chances are it has more value to you than to a potential buyer. Present a solid business case as to why your family brand and legacy have value.
2. When it comes to negotiations remember that the business was built to eventually be sold. Sellers can and often do get cold feet during a closing as they second guess if they got the best deal and also what there life will be like after the sale. Make sure you are prepared for life after you sell. Maybe you are an employee, maybe it is a clean break, but whatever the case have a clear personal path prior to closing.
If you can take the emotion out of the sale the process will go much more quickly, smoothly and potentially it will turn out more lucratively for you!
Let us know if we can help,
The Connect the Dents Team