Practice principals, there are many non-financial rewards to owning your own practice, such as your autonomy in decision making and being your own boss. However, have you considered if you receive enough satisfaction and financial reward to compensate for all the extra hours you invest in your practice and the stresses that come with being a business owner?
Just because you have taken the decision to purchase your practice in the past doesn’t mean that you can’t realise your investment well in advance of your retirement, in your 30’s, 40’s or early 50’s. In fact, selling your practice(s) well in advance of retirement can provide you with more options to maximise your sales value and potentially provide greater flexibility on your level of involvement in the practice post-sale.
More practice owners are freeing themselves of the burdens of practice ownership at an earlier stage in their careers, allowing them to swap the late nights looking over practice paperwork for time to spend time with family and friends or advance hobbies that have been long-abandoned whilst still doing the work they enjoy the most, delivering dental care to their patients.
At AAB, our team of advisors to the Scottish dental sector include Corporate Finance specialists, who are experts in advising on buying and selling of dental practices, and also Wealth experts who take time to understand your values and goals to help you to face your financial future with increased confidence, enthusiasm and security. The benefit to having your advisors being part of the same team means that we can work closely together to deliver advice that is aligned to achieve your personal goals.
Please contact Michael Edwards (firstname.lastname@example.org) if you would like to have an initial no obligation chat around your practice and your goals for the future.