In the first part of this 4 part series, we discussed the basics of all practice transitions, the numbers and our emotional need. In this article, we will look at an outside-of-the-norm type of sale, the distressed sale.
Distressed sales of dental practices can occur for a variety of reasons. The owner dentist may have a disability, or even death; or they might be going through a personal transition, such as a divorce, and may need to sell the practice quickly. It also may be possible that the owner dentist may be in financial difficulties due to the lack of control of overhead. Whatever the reasons for a distressed sale, the sale needs to happen quickly.