{"id":9590,"date":"2020-07-30T13:11:13","date_gmt":"2020-07-30T18:11:13","guid":{"rendered":"https:\/\/www.cainwatters.com\/digitalblogs\/?p=9590"},"modified":"2020-11-17T10:58:46","modified_gmt":"2020-11-17T16:58:46","slug":"transitioning-dental-ownership","status":"publish","type":"post","link":"https:\/\/www.cainwatters.com\/digitalblogs\/transitioning-dental-ownership\/","title":{"rendered":"Transitioning Out of Ownership"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9590\" class=\"elementor elementor-9590\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-f69e1c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"f69e1c2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3dc72ef ae-bg-gallery-type-default\" data-id=\"3dc72ef\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb85f7a elementor-widget elementor-widget-heading\" data-id=\"eb85f7a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Resources to leverage if this path is on the horizon <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-00fcf28 elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"00fcf28\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-de90e11 ae-bg-gallery-type-default\" data-id=\"de90e11\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-83e5fd9 elementor-widget elementor-widget-text-editor\" data-id=\"83e5fd9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>For most dentists, there comes a time when they are looking to sell their practice, whether it\u2019s to transition into retirement or even re-locate to chase a new professional goal. In our recent blog, <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.nationaldentalplacements.com\/\" target=\"_blank\" rel=\"noopener\">NDP\u2019s<\/a> <\/span>Partner and Valuation Specialist Christy Ratcliff encouraged both buyers and sellers on <a href=\"https:\/\/www.cainwatters.com\/digitalblogs\/buying-selling-after-pandemic\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\">how to find success in building partnerships<\/span><\/a> in today\u2019s volatile environment.<\/p><p>But what about those who are ready to sell outright? How can they know they are making the right decision to sell\u2014and more importantly, can ensure they get the <em>right buyer<\/em> and the <em>right price<\/em> for their life\u2019s work?<\/p><p>\u201cA transition is a transaction, but really it is so much more than that,\u201d Christy emphasizes. \u201cA transition for a seller can be an emotional process\u2014you are selling your life\u2019s work\u2014which is why having the right team in place to look at pieces objectively is a critical component to a successful transition. Understanding the soft elements of the business is important to help you meet your personal and professional goals, so that life after sale is what you want it to be.\u201d<\/p><p>In 2019, NDP worked with approximately 100 buyers and sellers as they transitioned into and out of practice ownership. While every transition is unique, NDP\u2019s average listing client received 94% of their asking price.<\/p><p>They have two primary services for <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.nationaldentalplacements.com\/transition-your-practice\/\" target=\"_blank\" rel=\"noopener\">doctors considering transitioning out of ownership<\/a><\/span>:<\/p><ul><li><strong><em>Listing Service <\/em><\/strong>\u2013 NDP will market your practice on a confidential basis to locate a suitable buyer candidate and then screen and vet those candidates to find the \u201cright one.\u201d\u00a0 This all-inclusive service includes negotiating the terms of the sale and facilitating critical processes like lending and legal.<\/li><li><strong><em>Seller Consulting Services \u2013<\/em><\/strong> If you already have a buyer and are looking to sell a portion or 100%, NDP can assist in putting together a fair and reasonable transition plan that works to meet your goals.\u00a0This customized service is based on your individual needs but often includes an in-depth financial analysis to set the price and help you and your buyer understand the cash flows and opportunity, negotiate the transition terms and facilitate the critical processes.<\/li><\/ul><p>Even in times of turmoil, transition plans do not have to be put on hold.<\/p><p>\u201cThe current market brings unique challenges, but it is absolutely possible to find buyers right now,\u201d Christy said. \u201cPeople in the industry are still moving forward with their career goals and persevering in spite of the pandemic.\u201d<\/p><p>Transitioning your practice is a major decision and it\u2019s important to be educated and start thinking through the process early. NDP\u2019s <span style=\"text-decoration: underline;\"><a href=\"http:\/\/nationaldp.wpengine.com\/transition-resources-for-sellers\/\" target=\"_blank\" rel=\"noopener\">Seller Transition Guide<\/a><\/span> is a good place to start as it breaks down the process step by step and answers some of the common questions doctors struggle with during the selling process.<\/p><p>Other Seller Resources:<\/p><ul><li>E-Book: <span style=\"text-decoration: underline;\"><a href=\"http:\/\/nationaldp.wpengine.com\/transition-resources-for-sellers\/\" target=\"_blank\" rel=\"noopener\">Seller Transition Guide<\/a><\/span><\/li><li>Podcast: <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.nationaldentalplacements.com\/resource-partners\/podcast-transition-talk\/\" target=\"_blank\" rel=\"noopener\">Transition Talk<\/a><\/span>, Episode 9 &amp; 10<\/li><li>Podcast: <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.cainwatters.com\/wealthpodcast\/\" target=\"_blank\" rel=\"noopener\">Accumulating Wealth<\/a><\/span>, Season 6, Episode 2<\/li><li>Event: <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.cainwatters.com\/practice-transition-seminar\/\" target=\"_blank\" rel=\"noopener\">Practice Transition Seminar<\/a><\/span>, October 16 &amp; 17<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Resources to leverage if this path is on the horizon For most dentists, there comes a time when they are looking to sell their practice, whether it\u2019s to transition into retirement or even re-locate to chase a new professional goal. In our recent blog, NDP\u2019s Partner and Valuation Specialist Christy Ratcliff encouraged both buyers and [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":9593,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[36,20],"tags":[],"ppma_author":[48],"class_list":["post-9590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","category-practice-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transitioning Out of Dental Ownership and Resources to Leverage<\/title>\n<meta name=\"description\" content=\"NDP Partner and Valuation Specialist Christy Ratcliff discusses the process of transitioning out of ownership. 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