Dentists have a few options when it comes to where they are going to practice. They can join other practices. Many dentists work in hospitals, as dental care is often required by patients who have been in accidents, have abscesses, or need emergency dental work. Another option is to buy an existing office and set up their own practice. There are advantages and disadvantages to this, and it is not a decision to be made lightly. Before buying any practice, there is a lot of research to be done, and a lot of questions to be asked in order to establish whether or not it is worthwhile.
The first thing to do is to start searching for dental offices for sale in Arizona. It is a good idea to work with professional brokers who have many listings, and know all of the details about the offices that are listed, such as Western Practice Sales. The experts will work with clients to help them find the practices that are best for them. Some of the things that are considered are current staff, location, and equipment that is included in the sale.
Location is one of the key factors in deciding which practice to buy. The neighborhood should be stable, and growing. Look at other businesses in the area. If they are thriving, it stands to reason that a dental practice will do well in that area. Don’t forget to check and see if there are other dental practices in the area. Direct competition with an established dentist in the area could result in less patients, and the practice won’t generate a lot of income.
Be sure to look over the current owner’s financial records. This can reveal a lot about any type of business, including dental offices for sale in Arizona. Look at the last two or three years of income tax returns, as well as accounts receivable and accounts payable. Check out the salaries and benefits the current employees are receiving, assets, and leasing agreements to see if the practice is a solid one. It is also a good idea to get an appraisal of the real estate. For more information about buying a practice, visit website.
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