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    5 tips to prepare for selling your practice

    Start formulating an exit strategy years before you plan to sell

     

    4. Take a look at your office from the patient’s perspective.  

    Just as with staging a home for sale, you want your practice to show well to prospective buyers. Do you have stains in the carpet or ceiling tiles? Are the reception area chairs torn or soiled? Do you have many contact lens trial sets stacked in ancillary testing rooms? If so, take the necessary steps to update the office to make it look as good as possible and update any decor or furniture that needs to be cleaned or replaced.

    Related: Finding and incorporating the right office manager

    Most selling optometrists want the sale of their practices to be confidential. If confidentiality is important to you, then you’ll have to be coy when updating your office because staff is very attuned to what is going on in the office, and staffers may figure out that you’re up to something. Make the updates very slowly over a longer period of time, or take these steps well in advance of when you want to sell your practice.

    5. Decide if you should hire a practice broker to assist you with the sale. 

    Dirk Massie, OD
    Dr. Dirk Massie has two practice locations in the St. Louis metro area. He is the primary consultant at Premier Doctor Consultants.

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    Optometry Times A/V