Preparing Your Dental Practice for Sale: Complete Checklist
Proper preparation can increase your practice sale price by 10-20%. This comprehensive checklist covers everything you need to do 12 months, 6 months, and 30 days before listing your dental practice for sale.
12 Months Before Sale
Financial Preparation
- Get professional practice valuation
- Review 3-5 years of financial records
- Clean up any tax issues
- Reduce owner discretionary expenses
- Improve overhead ratio to 60-65%
- Strengthen collections (target 98%+)
- Increase new patient flow
Operational Improvements
- Update outdated equipment
- Implement digital radiography if needed
- Upgrade practice management software
- Document all procedures and systems
- Improve patient recall systems
- Build hygiene department production
Staff Development
- Cross-train team members
- Document staff roles and responsibilities
- Address performance issues
- Implement retention strategies
6 Months Before Sale
Documentation
- Organize tax returns (3-5 years)
- Prepare detailed P&L statements
- Compile patient statistics
- Document equipment list with values
- Review lease terms and assignability
- Ensure licenses and permits current
Facility Improvements
- Fresh paint throughout
- Update waiting room décor
- Replace worn flooring
- Ensure ADA compliance
- Update signage
- Deep clean entire facility
Legal Compliance
- Resolve any pending litigation
- Address OSHA compliance issues
- Verify HIPAA compliance
- Review employment agreements
- Ensure insurance policies current
30 Days Before Listing
Final Preparations
- Complete minor repairs
- Update website and online presence
- Professional photography
- Prepare confidential practice profile
- Compile offering memorandum
- Select dental practice broker
Downloadable Checklist
Use this master checklist to track your preparation progress. Each completed item increases your practice value and smooths the sale process.
Conclusion
Thorough preparation is the key to maximizing your dental practice sale price. Start 12-24 months before your target sale date for optimal results.
Get Preparation Help
DentalBridge provides practice preparation consulting to help you maximize value before listing. Our experts identify the highest-ROI improvements for your specific practice.