When is the right time to sell your dental practice in its lifespan? According to the ADA Health Policy Institute, dentists are retiring around age 69. But It’s not one size fits all.
At DDSmatch we have helped hundreds of dentists transition their practices, at all ages and career stages. Take for example, a 50-year-old with an incredible practice but his heart wasn’t in it anymore. He sold his practice at its peak, and moved across country to pursue his new dream. On the other hand, there is a 78-year-old who is still passionate about dentistry, performing well, and feeling great, so he isn’t quite ready but is putting a succession plan in place for the benefit of his family, staff and patients.
DDSmatch Transition Professional John Kuriger explains “There is no set age and no pre-determined metrics to tell you exactly when to sell your dental practice, but there is a simple question you can ask yourself:”
“Am I thinking about selling?”
When you start thinking about it, it’s time. Don’t ignore that feeling.
It’s time for a conversation with a trusted Transition Professional, even if the eventual sale is a few years off.
“You only get one shot, and preparing in advance puts you in control. You owe it to yourself to plan ahead,” shares John.
Let’s take a closer look at some influencing factors to help you determine the right time for you.
Ask the Questions & Get the Answers
It’s common to have questions surrounding retirement like:
Can I afford to retire?
How many years out until I can retire?
What is my practice worth?
Is my practice in sell-ready shape?
Check in with your financial advisor to discuss your questions, meet with your CPA, evaluate your current lifestyle and the corresponding expenses, meet with trusted Transition Professionals and have an independent business valuation performed. Knowledge is power! DDSmatch uses a proven process, The Practice Optimizer Experience™, to guide you through each of these topics (and more) to help you move forward with confidence.
Timing it Right
Ideally, you would sell your dental practice when it’s reaching its peak. The key is determining when you feel that your practice is operating at its best, both in terms of financial performance and the quality of care you provide. This is often when your practice is healthy, with a strong patient base, a solid team, and a reputation that makes it appealing to potential buyers. It’s the point where your practice is thriving, and when a sale will likely bring the highest value, while feeling like it’s the right time for you personally.
With a Sound Mind & Body
Chronic injuries and repetitive stress can take a toll. If you notice signs that you aren’t bouncing back day after day or are experiencing fatigue, take note. Give yourself time to plan your transition so your long-term health and the health of your practice aren’t negatively impacted. Your mental health is equally important, if you decide to sell after you’ve started feeling burned out or disengaged, it may result in the practice being less attractive to buyers or being sold for a lower price. By stepping away before your energy wanes, you ensure that the practice remains a strong, thriving business for the new owner, allowing them to build on your legacy–the one you’ve worked so hard to create.
When You Are Ready for New Adventures
Your personal preferences—such as reaching retirement age, pursuing new passions, or spending more time with loved ones—can all factor into your decision. There’s no magic age or set of benchmarks for this either; it’s about understanding where you are in life and how much more you want to invest in the practice. The ideal time to sell could come when you feel ready for something new, but this moment is highly individualized. When you have reached a stage where your professional and personal aspirations align, it might be time to take the next step.
The Bottom Line
Ultimately, the right time to sell is when you feel it’s the right fit for both you and the practice. It’s not determined by any specific age or set of numbers. Instead, it’s about when you’re at the peak of your career, but before you start to feel the signs of burnout. By recognizing your personal and professional readiness, you can maximize the value of your practice and ensure that the transition is positive for you, the buyer, your staff and your patients. When you transition on your own terms, you set yourself and your practice up for long-term success.
