Finding the Ideal Dental Practice for Sale
Abundant opportunities exist for dental professionals throughout their careers. At some point, thoughts turn to acquiring an office and a general dental practice, but the process might seem overwhelming. Getting help from a firm experienced in dental mergers and acquisitions is likely to provide the best path forward. At Commonwealth Transitions, our team of experts is happy to guide you through the entire process of finding the ideal dental practice for sale in the state of Virginia and Washington DC.
Our concierge firm, founded in 2015 and located in Charlottesville, VA, has negotiated more than 100 total transitions. We listen to the needs of our clients and are always on the lookout for a fantastic opportunity for dental practices for sale in the area. After a short consultation, our team can help guide you through the process if you are a doctor searching for a dental practice for sale. We adhere to the highest ethical standards to achieve satisfaction for both the buyer and the seller.
If you are just beginning the process, you might have several key questions. The information below is meant to help clarify your goals.
Is Owning Your Own Dental Practice Worth It?
As with most questions, much depends upon personal interests and situations, but many professionals find satisfaction in owning and operating their own general practice. In addition to monetary rewards, dentists, periodontists, orthodontists and others in dental practices find career fulfillment in personal practice.
Several Positive Factors
A doctor who owns and operates a general practice becomes an important part of the community and has an excellent opportunity to build a family practice that reflects his or her values. You can also gain satisfaction from meeting challenges and providing a needed service to members of the Virginia community.
The Best Dental Office for Sale
Our team works hard for every client, utilizing our targeted knowledge of how a well-established practice operates. A team composed of real estate and dental practice professionals can help you make the best decision on buying a practice.
How Many Square Feet Is a Dental Office?
Practical issues matter when you are searching for a dental practice for sale near me. It is important to find an office space that meets the needs and the vision of the person or group purchasing an existing and well-established practice. While one practice can do well with a small amount of space, another practice requires a professional building with multiple rooms for patients, well-trained staff and other needs.
On average, a general dentist treatment room takes up about 300 to 400 square feet of space. A small practice with four treatment rooms would take up between 1200 to 1600 square feet, with the additional room needed for the reception and waiting area, the offices of the dental professionals and for restrooms, supply space and room to take digital x-rays. Therefore, a small size general dentist office should run at least 1,800 square feet, while a larger office could easily occupy twice the space.
When looking for a dentist business for sale that meets your needs, you want to consider a professional building that is in a good location and of the appropriate size. At Commonwealth Transitions, our experts will discuss your space plans and recommend dental practices for sale in the Virginia and Washington DC markets that match the size of your practice.
What Is the Profit Margin for a Dental Office?
Many factors impact the profitability of dental practices. This holds true for general dental practitioners as well as for specialists such as orthodontists, endodontists, oral surgeons and periodontists. When looking for a practice for sale, it is a good idea to consider a practice that has a balance of about 60 percent overhead and 40 percent profit margin.
While it is possible to increase profit margins, many offices fall into this range. Avenues to increased profits include a well-run office, efficient scheduling of patients, a state-of-the-art system for payment collection and the offering of additional products for sale.
One survey by U.S. News puts the average salary of oral and maxillofacial surgeons at a national average of approximately 200,000 a year. Ownership and clinical profits on average tend to be about $150,000-300,000 per location per year.
Still, the dental profession must cope with many expenses and challenges such as the cost of equipment and other overhead. When considering an orthodontist practice for sale, it is relevant to factor in a lower overhead percentage in these practices.
Dental Office Investments
In addition to other benefits, the purchase of a practice offers a potential increase in earning power for the professional. You will get to share in the increased value of the business and the investment is likely to last for many decades, if not longer. While the responsibilities are likely to be greater, most owners will likely make more than dental associates who work for the owner, making this business opportunity a sound investment.
How Much Money Does It Cost To Purchase a Dental Practice?
A mix of complicated factors determines the cost of a dental business for sale in Virginia and Washington DC. It is not unusual for a general practice to cost between $300,000 and $1,000,000. Many practices have a higher price tag. This represents a large sum of money for both new and established dentists and requires a smart approach to financing and contract terms and agreements.
The most pertinent factors in the selling price include the following:
- The profit margin of the practice
- The location of the practice
- The quality and amount of the dental equipment
- The reputation of the existing practice
- The type of practice (general or specialist)
- The size of the property
A Strong Process
At Commonwealth Transitions, we help you find a dentist for sale in Virginia with a proven process. Each of the following steps brings you closer to your dream of having your own practice:
- Buyer contact that includes registration and the signing of an NDA to ensure privacy
- Password rights that give you access to a complete list of buyer tools
- We educate all of our buyers on what they are buying and how we valued the business
- Informal bank pre-qualification that lets you know where you stand ahead of schedule
- Tour of the practice and an introduction to all interested parties
- Closing the contract and transitioning that offers valuable advice on taking over the practice
A Service Company
Whether you are looking for a general practice in Virginia or a specialty practice in Washington DC, we take pride in matching you with the best opportunity for career growth. We have sold properties throughout the state, and we want you to buy the property that most fits your needs.
Can a Dentist Start Their Own Business?
When you decide to look for a dental office for sale by the owner, you are placing a lot of faith in your ability to achieve success. In addition to your skills as a doctor with patients, you will need to practice a broad set of skills and acumen to run a professional practice. This can be done through partnering with an industry leader to guide you through the process.
Commonwealth Transitions, located in Charlottesville, VA, is the region’s leader in dental practices for sale and has the resources to help you achieve your career goals. Reach us toll-free at 1-800-208-3464 to discuss our products and your options. We are the sole brokerage firm for dental practices located solely in Virginia.