Should I Renovate/Upgrade My Practice Before Selling?

By Darren Shanahan

Often Dentists will come to us with this question when they are considering selling their dental practice because they want to get the highest return on their practice and they want to know if it’s worth it or not so they ask for our guidance and consultation.

How Do You Know If You Will Get Your Money Back?

My question is usually how long do you plan until you actually sell? The answer to this question will determine whether or not it’s the right time to makes the upgrades.

If You’re 6-12 Months Out:

At that point in time if you're inside of a 6 to 12-month window, maybe some touch-up paint, maybe replacing anything that's broken, anything from getting chairs updated and making sure they're working properly, sterilizers, all the necessary equipment, but I wouldn't necessarily go into a full renovation.

If Your 2-5 Years Out:

If I'm in that 2 to 5-year window, I might actually do more extensive renovation. But you want to kind of assess as to see whether or not you're going to get that money back. Same thing as when you sell a house. There are certain parts of your practice that you can put money into that it's not going to yield you any more cash on the end of your sale.

If you are considering renovations, upgrades to technology, or any other investment in your practice and aren’t sure whether or not you will get the money back, a quick call may give you some piece of mind – reach out anytime to discuss your particular situation.

We’ll be happy to sit down with you confidentially and take a look at all of your options. You can call the office toll free at 1-866-GO-AVAIL (1-866-462-8245) to book your 15-minute consultation with myself or someone on my team.

To learn more about AVAIL Dental Exit Advisory Services and how we having been assisting Dentists with transitions and appraisals for close to a decade, visit our website: www.AvailDentalAdvice.com