Dr. Do-It-Yourself has been attempting to sell his dental practice for the past eighteen months. He is determined not to use a professional firm to sell his practice. He dislikes the idea of paying a fee for this service even if it saves him time and he will ultimately receive more money from the sale. He feels that people in a fee for service business are living off other peoples’ honest, hard-working labor. He is not going to let anyone else make any money from the sale of his dental practice!

“Sure,” he thought, “it’s been somewhat frustrating so far.” Selling a dental practice was new to him, but he didn’t believe that it could be that difficult. He’d made some mistakes like pricing his practice too high at first and probably scaring off some prospective buyers. He had attended a seminar where he was given the formula to determine a practice value. He felt his practice was better than most other practices, so he figured he should try to get even more money than the formula called for. It wasn’t his fault these young doctors could not see the real value of his practice.

However, much to his dismay, he eventually was forced to lower his selling price to about half of what he had initially asked. At that price, he almost sold it. He had a doctor ready to buy, but after three months of negotiations and ten thousand dollars in legal and accounting fees, the purchaser-candidate changed his mind. He hated to spend all that money on attorneys and accountants and still have nothing to show for it. Maybe if the attorneys had tried to cooperate and work things out it would have been sold, but they both seemed to go out of their way to kill the deal. “Oh well,” he thought, “the next one will be different.”

Dr. Do-It-Yourself did not want anyone to know he was selling his practice. The first dentist who answered his ad in the local dental journal talked to the local supply house rep, then everyone in town knew that he was selling. Some of his patients changed to another dentist and he was not getting as many referrals as before the word got out. The patients apparently did not want to refer their friends to someone who was retiring. He also discovered that his staff was looking elsewhere for a job. “Well,” he thought, “they must be worried about their jobs and don’t want to wait until I sell before finding out if they will still have a job.” He wished they had not found out, but he figured you can’t have everything go your way. His production was dropping, but if he sold soon enough, he could get out before it did too much damage.

He also didn’t appreciate the snide remarks from the purchaser candidates who were dental students that had come from his office saying that his equipment was so old that it should be donated to the Smithsonian. “What do they know about practice value anyhow? They are too young to appreciate a great opportunity when it stares them in the face. They don’t have any money either, they want me to give the practice away and finance it to boot!” Besides that, everybody wanted to go through his books and files before they were even interested in buying. One purchaser even wanted a copy of all his tax returns for the past five years. What he did with his taxes was his business, not theirs! He did not like exposing all his personal business to these strangers, but he did not know of another way.

He thought to himself, “The other doctors in town are just waiting for me to retire and then they think that they will get my patients without paying anything for them! Not a chance! I’ll work until the day I die before I let that happen! “It’s been a while since someone has answered my ad. I guess the word is out that no one wants my practice. I will just keep lowering my price until someone buys. That’s what I’ll do.” he thought. “If I can just keep the practice going until then… At least I’m doing it myself… doing it my way, and at least I’m not paying anyone to sell it!”

If this scenario does not appeal to you, then it's time to call AFTCO and get paid the full value of your practice. You don't have to lose to learn a lesson, call AFTCO today at 800-232-3826 or visit our website at www.AFTCO.net.

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