When to sell your practice is probably one of the most emotional questions you’ll face as a practice owner.
You’ll no doubt have poured your blood, sweat, tears, money, emotion and time into the practice and, over many years of responsibility and pressure, that commitment can start to take its toll.
For some owners, this manifests as a quiet sense of Owner Fatigue™ or reduced enjoyment rather than a clear breaking point. The practice may still be performing well, but the mental load of running it doesn’t feel as light as it once did.
You might be considering a sale to move on to new adventures, respond to a change in personal circumstances or simply to realise the value of everything you’ve built. In many cases, the decision is less about stepping away and more about recognising a natural shift in priorities.
Whatever the reason behind your drive to sell, understanding why the timing feels right is just as important as the decision itself.
With that in mind, here are 10 of the key factors you must think about…
- Consider your future options.
Selling is a big decision so be sure about what you want to do next. Retire? Take a well-deserved holiday? Or stay on at the practice? The decision is yours! Life tends to be decisions around time and money, so you are strongly advised to seek some financial advice whilst you still own the practice. It is easy to focus on the sale price without regard for the net amount which will hit your bank account. Good financial planning will ensure you maximise the tax benefits whilst still a business owner.
- DIY Sale vs Sales Agent
You have two options when selling your practice: manage the sale yourself or engage an agent. A self-managed sale requires hours of work, and for confidentiality reasons, much of this must be done away from the practice – placing significant demands on your time and focus. What’s more it’s not your area of expertise. At Frank Taylor & Associates (FTA), trust and independence are at the core of everything we do. Decades of experience have taught us that while strong relationships with buyers are important, they should never come at the expense of our client – you. When engaging an agent, clarity matters. Their responsibility should be singular and unquestionable. At FTA, there is no conflict of interest – our advice and actions are driven solely by what is right for our clients. This independence ensures total alignment, absolute transparency, and complete confidence in who we represent and whose interests come first. If you choose to work with an agent, we recommend partnering with one committed to the Practice Sales Promise code of practice ensuring transparency, professionalism, and your interests remain paramount throughout the process.
- Valuation
You wouldn’t sell your house without considering the market, so the same should be considered for your dental practice. Make sure you have an up to date valuation of your practice which is based on the current market and importantly utilises multi-source verification to cross-check comparable sales. Comparable sales need to be from your geographic area and for practices of a similar size and style. Never accept a valuation of your business based on the opinion of the buyer or their adviser – they may be biased.
- Trusted Partners
As a sector dentistry has a good supply of specialists who dedicate themselves to the needs of dentists. With a solicitor, accountant, CQC application, sales agent and investment adviser most likely all needed you are strongly advised to take advantage of these experts. The added value delivered from specialists should more than cover their cost. Finding people with a similar outlook to you and with capacity to deliver the service you require are both vital.
- Use the Open Market
Direct approaches are all too common, reflecting the high demand for quality dental practices. At FTA, we take a different approach: everything we do is fully anonymised, ensuring your practice’s confidentiality is preserved at every stage. Unlike many agents who limit promotion to a select group willing to pay for access, we market your practice to the full open market, maximising exposure while maintaining discretion. While non-disclosure agreements (NDAs) offer a level of protection, they do not guarantee absolute security. That is why our anonymised sales process goes further, ensuring your practice remains confidential throughout the sale. We do not share photographs of the practice, and the address is never included in the sales prospectus, protecting your identity and minimising unnecessary exposure at every stage.
- Leasehold vs. Freehold
Are the practice premises freehold or leasehold? If freehold, you need to decide if you plan to sell the property with the business or create a lease. There are merits and tax considerations in both options, and it will come down to a personal choice, investment strategy and the need to raise capital. If an existing lease is in place you need to ensure the remaining term is adequate to not compromise the goodwill value of your practice and/or creating funding issues for a buyer. Property issues are often the ‘achilles heel’ of a deal and ensuring the lease and/or title deeds are in good shape prior to the sale commencing is time well spent.
- Potential Purchasers
You need to filter out timewasters as quickly as possible. At FTA, we ensure confidentiality at every step – only fully anonymised information is shared with serious, pre-qualified buyers. To further focus the buyer’s commitment, we hold a deposit from them, ensuring that those who progress are genuinely interested and financially prepared. This approach protects your practice, limits unnecessary exposure, and keeps the sale process efficient and secure.
- Managing Your Time
The DIY route will require hour by hour management so your practice performance does not suffer through the process, which in turn will impact on the value. Equally don’t underestimate the time required even if you have an agent. The best person to show potential buyers around the practice is you, the practice DNA will be part of you. Allocating specific time to ensure you have the capacity to assemble the due diligence paperwork, deal with your CQC application and build a relationship with your buyer will pay dividends through the process. If you sell with FTA, we act on your behalf and we will make all the difference in dealing with the admin and ensuring the sale stays on track.
- Communicate
Through the sale process, you’ll need to maintain a positive open dialogue with us. Being readily available helps keep momentum in the deal with is critical as most deals fail due to a lack of communication or it being so slow the deal withers and dies. We will drive the pace of the sale to ensure it moves as swiftly as possible through to completion.
- Don’t Lose Motivation when selling a dental practice
A sale will take time. There’s a lot to be dealt with but most challenges are avoidable with just a little advance planning and a bit of expert help along the way.
