California’s dental industry is booming, and many successful dentists are thinking of retiring. With thousands of Baby Boomer dentists looking to cash in on the years of hard work they put in, finding the right dental practice for sale in California can be a great way for a younger practitioner to get started. Companies like Western Practice Sales make the process a lot easier than it used to be, too, offering up a range of appealing options to their clients.
For many, the single most important factor to consider when looking at a dental practice for sale in California will be the current size of the patient base. While there are some who insist that this measure not be overemphasized, experience shows that there is no better indicator of the future performance of a practice. Not every patient, even among the most loyal and longest tenured, will stick with a practice through a handover to a new dentist, but enough inevitably do that practices with large followings tend to be worth the most to their new owners.
Beyond that, dentists looking to buy into a practice will want to consider location. With pretty much all of California’s major coastal communities growing consistently, most practices in these areas will be safe bets. There are certainly plenty of bargains to be discovered further inland, but as they move eastward, dentists need to think more deeply about what they find. Some landlocked cities have plenty of growth ahead of them, but others are more likely to spend plenty of time in the doldrums.
With that factor accounted for, dentists will also want to think about the competition in the area. Given that opening a new practice and building it up is a fairly major undertaking, it is inevitably the existing competition that will matter the most. A practice placed in an area where there are few appealing alternatives will be much more likely to remain busy through a change of ownership than one where competitors are ready to swoop in. Merely by accounting for these factors and related ones, though, dentists looking into acquiring their own practices without starting from scratch can expect to realize some rewarding results.