This time comes for every dental practice owner – the time to sell your practice. Whether you are selling your practice to completely retire or to step away from owner responsibilities while still practising, there is much to consider when selling your business. The two most popular reasons our readers would consider selling their practice are their age and health status. While economic factors were still found to motivate half of our respondents, it appears most owners would not consider selling or retiring until their bodies told them to. Once you’ve made the decision to sell, who do you sell to? When this question was posed to practising Canadian dentists, a majority preferred to pass on their practice to a fellow dentist. But how? Well, the results are close between selling through a broker or some other professional advisor, such as a lawyer or accountant. These are all things to consider as you approach the end of your practice ownership and we wish you the best of luck as you make your way through this process!
As seen in the print issue of Oral Health May 2023
*In October and November 2022 Bramm Research, a third-party independent research house, con-ducted an online survey of active, practicing non-hospital affiliated dentists and dental specialists on behalf of Oral Health. Survey invitations went out to a contact list of approximately 9,000 readers and there were 251 completions, for a response rate of 2.8. With a total sample of 251, the margin of error is plus or minus 6.0 percentage points at the 95 percent confidence level. If, for example, 50% of the sample indicated that agreed with a statement, then we can be reasonably sure (19 times out of 20) of an accuracy within +/- 6.0%. This means that a total census would reveal an answer of not less than 44.0% and not more than 56.0%.