Getting the best price – Alpesh Khetia
NewsPosted by: manpreet.boora 2nd October 2017
Whatever your motivations are for selling, careful planning and preparation are vital if you are to achieve the best price possible. There are a number of ways you can build the value of your practice, which can include developing a business website and becoming active on social media. If done correctly it could help you not only get the best price for your business, but also reduce the amount of time it could take to sell.
Website
A website is the most valuable marketing tool for a practice and opens the door to many other advertising opportunities. If your dental practice does not have a website or it requires a revamp, now is a great time to invest in this area of your business in order to attract patients and increase sales. The website should be informative and full of content and educational material. It needs to be easy to navigate with an up-to-date list of all the treatments and services you offer. To boost traffic further and reach a wider audience, you could consider features such as Google AdWords and pay-per-click advertising for search engine optimisation.
Social media
A dynamic online presence will allow you to connect with your current patients, as well as attract prospective customers. Word-of-mouth recommendations remain one of the key advertisements of any business, and these are now channelled through social media. Being active online gives you an opportunity to share news about your practice, build relationships, garner word-of-mouth recommendations and connect with future patients. LinkedIn can be a powerful networking tool, while Facebook and Twitter accounts should be updated a few times each week with interesting and interactive information so that patients will be aware of new promotions and practice news.
Do your research
When it comes to selling your practice, there are three main routes available; developing a partnership, selling and staying on, or selling the practice and making a clean break. You need to carefully consider all of your options, as well as researching each potential buyer thoroughly. Ethics, values and intentions should all be discussed prior to the sale, particularly if you are looking to work alongside or under the new buyer.
Selling to an experienced group, such as Rodericks Dental can help make the process as smooth, efficient and stress-free as possible. Rodericks Dental is dedicated to excellent patient care and can provide friendly and practical support throughout the sales process. They have the capability to complete in just 12 weeks, can contributing towards your legal costs (when you used an experienced dental representative) and offer free practice evaluations.
Selling your dental practice should not be a stressful process. Take time to prepare your business prior to selling, and you will find yourself in a much better position to achieve the best price.
For more information please visit www.sellyourdentalpractice.net, email acquisitions@rodericksdental.co.uk or call 01604 602491 (option 5).
Twitter @rodericksdental and LinkedIn
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