The term “practice sales” is typically used to indicate the sale of a dental practice from one doctor to another doctor. This process entails a thorough appraisal of the practice, defining the proper pricing and terms (including the terms for the lease or sale of the selling doctor’s building), as well as any other contingencies necessary for the sale. Usually these transactions entail a “turn key operation”; that is, the purchasing doctor takes over the practice from the selling doctor including all equipment, supplies, furnishings, staff and goodwill. A practice sale can be extremely financially rewarding for a purchasing doctor, both from an income and a “pride of ownership” standpoint.
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