Finding a Buyer Vs. an Associate

Finding a Buyer Vs. an Associate

By Bob Septak, MBA
UPBA President & Broker

As a periodontist and a business owner, it is important to plan ahead. As you plan for your future, there are two main questions to ask yourself:

When should I start looking for a buyer for my practice?

When you plan on practicing for 3 years or less, it is time to start looking for a buyer. It takes time to sell and transition a practice. A buyer will want the owner to stay on during the transition for a minimum of six months to a year.

Am I looking for a buyer or an associate?

As stated above, if you plan on practicing for three years or less, you are looking for a buyer. If you bring on an associate at this stage, you need to have a transition plan prepared. Be sure to have a written agreement clearly stating when they will be purchasing the practice and the price.

If you are at least five to ten years away from retirement it is perfectly fine to hire an associate.

If you have any questions please feel free to give us a call at 412-931-1040. We are happy to answer any questions.