Many dentists don’t want to work for someone else, and would rather have their own offices. In order to do this, they can either start their own business from the ground up, or purchase an existing business. The trick is to find a business that is available on the market. There are great advantages to doing it this way. For one thing, the business is already fully staffed, and the equipment is there and ready to use. On the other hand, there are also disadvantages to buying a pre-existing business. What interested parties need to do is seriously weigh all of the pros and cons to decide if this is the right avenue for them.
The first thing that anyone looking to buy this type of business needs to do is look for actual dental practices for sale. In Arizona, it is as easy as looking in newspapers and trade publications, or getting in touch with Western Practice Sales. It is a good idea to check out two or three businesses for sale, and to narrow it down after looking at all of the options. One of the most important things to keep in mind is the location of the business. There are a few things to consider about the location, including:
* Is it a growing or thriving neighborhood?
* Is there any direct competition in the area?
* What are the unemployment rates like in the area?
* Is there potential for growth in the neighborhood?
It is extremely important to look over the current financial records of the business. If it is one that isn’t making money, it probably isn’t one that is worth buying. Be sure to look at tax returns from the past two or three years, as well as accounts payable and receivable, employee salaries and benefits, assets, and leasing agreements for the building. If the building is also being purchased, get an appraisal of how much the building and land are worth.
Dentists who want to be in business for themselves can find many dental practices for sale in Arizona. Finding the right one just takes a bit of time and effort, but it is worth it in the long run.
