1. Consider the future value of your business.
2. Do you want to sell or partner up with another dental practice?
3. What are the tax implications of selling the practice – this depends on whether your business is asset based (sole trader or partnership) or is a limited company (share based)
4. Ensure that you have easy access to all the information and documentation regarding your business as you will need to produce this for your advisers.
5. Select carefully experienced professionals (solicitor, accountants, IFAs) to assist you with the process.
6. If you occupy the premises on a lease, make sure you have the consent of your landlord to sell.
7. Seek advice as to the best time to inform your staff that you are selling the business.
8. Be prepared to work with your advisers throughout the negotiation of the price, due diligence and contract process.
9. Have a timescale in mind by which you wish to achieve your objective.
10. Consider financial planning after you have received the sale proceeds.
For mor assistance in selling your dental practice, please contact us for more information.