How To Sell Your Practice

Many of the articles and marketing tips that we write here at Jerry Jones Direct come from our clients experiences, and this one is no different.

In talking to a new client of ours yesterday, we’ll call him Dr. O, I found out that he was planning to sell his practice within the next year or two.

We discussed the fact that many new dentists nowadays prefer to start their own practice rather than purchase an established practice. I pointed out many examples that I had come to know of doctors that are quite successful in starting up vs. some that I know struggle upon purchasing a practice.

That is when Dr. O started telling me what he has going for him in his practice… The first thing out of his mouth was not his patient base, equipment, or location…

…it was his staff!!!

Dr. O talked so highly about his staff and the great job they do for him every day. How they never complain, and are one of the major reasons he will be able to retire next year. He said if anyone were to start a brand new practice today, there is no way they could ever find a staff that was as loyal and as hard working as his. He considered it one of the major selling points of his practice.

Look at your own practice. Do you consider your staff an asset that raises the value of your practice? Or do you have a “good enough staff” that does just enough to get by? If they aren’t the type that adds anything…then why are they there?

One other tip about selling your practice… Dr. O has just started the RARE newsletter program with us. The reason is, he can ease the transition between himself, and the partner he brings in that will own the practice within a year. Great idea, and it really shows that there are many more benefits to a monthly newsletter than just the referrals.

Have a profitable week!

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EMC Dental Marketing is a full-service Dental Practice Marketing, Dental Advertising, and Practice Management agency that focusses on solving a dentists top 2 problems - attracting new patients and retaining the patients they already have.