Is the middle of a pandemic a good time to market your dental or medical practice for sale?
The short answer is ….. maybe.
- If you are a mature dentist or doctor are you concerned about being exposed to the virus?
- How much longer were you going to work in your plans pre-pandemic?
- Has your staffing been under control or has it been stressful?
- What has your office performance been since re-opening?
- In theory, the virus may have pushed values downward but interest rates for buying dentists are at an all time low!
- Are you willing to work in the “new normal”?
Covid-19 and Selling Your Practice
If you are struggling to answer any of these questions or have definitively answered some of them, then it may be time to take action! Whether it be retirement, expansion, or shrinking your practice, there is always a solution to help get you what you desire. If you are interested in selling your practice then learning the proper steps to take prior to jumping ship is something you may want to do. Especially during these uncertain times with Covid-19 still at our doorstep.
Covid -19 changed everything. There is a large possibility certain industries may never be the same in terms of their operations and rules. The medical and dental professions could be those particular industries. Since this pandemic began, we have had lock downs, mask mandates, required use of hand sanitizer and much much more! Our frontline workers, doctors among others, have all been tirelessly working to help us save lives and keep the world moving forward. They alone are tired of wearing all of the PPE garb and may never want to wear it again. Are we certain that this could not become the norm for the future in these industries?
These are things that now need to be considered when purchasing or selling a practice of your own. When leasing or purchasing real estate you need to understand what happened during this pandemic and plan accordingly.
For a free consultation to see if NOW is a good time, call HPRG, THE Medical and Dental Transitions Group!
Our unique sales approach makes us the wise choice for selling your practice. 24 years experience is what it takes to insure you have the most successful transition experience.
Call Charles Feitel at 301.365.6940 or email him at firstname.lastname@example.org
Visit www.hprgrealty.com to see our current available listings