Practice Orbit Get Started Selling Your Practice No Commitment
Selling your Dental Practice Using a Dental Broker
- Technology to support an organized, successful transition.
- Option for a 2% self-directed option or a full-service brokered model for between 4-6.5%.
- Access to buyers nationwide
- Simple self-guided forms to prepare your practice for listing
- Non-exclusive! You pay Practice Orbit only if you find a buyer through the Practice Orbit system or use the Practice Orbit platform and its team to navigate the sale of your practice. Additionally, that commitment is only attached to that specific buyer. You literally have nothing to lose!
- Already listed with another practice broker? That’s okay! Your broker and you can market your practice on Practice Orbit and explore potential buyers anyway. There is no additional fee to you. Your broker will simply have to agree to a 2% platform fee to Practice Orbit to release the buyer information.
- One-click digital anonymous posting of your practice to the Practice Orbit community.
- Built-in notifications and emails to alert you of “next steps” when you have an interested buyer through the Letter of Intent (LOI)
- Tools to be successful (Innovative digital prospectus, notifications, email feeds, dashboard, digital NDA and LOI, team page, etc.)
- A built-in dashboard showing the progress and “next steps” of the sale to easily go from NDA to LOI to closing.
- Easy/automatic price assessment built in (“The Orbit Estimate”). With an inexpensive alternative for a dental specific valuation with a Practice Orbit 3rd party partner.
- Access to institutional buyers (DPOs, Large Group Practices)
- Automatic calculation of your EBITDA.
- Keep your practice profile 100% anonymous and only release to interested parties once a digital NDA is signed
Self-Directed vs. Broker Directed Who completes each task throughout the process?
| Task | Self-Directed | Full Service |
|---|---|---|
| Use Practice Orbit on your own without help from a broker (2% of sale price) | Practice Orbit can help you find buyers and navigate the sale (4-6.5% of sale price) | |
| Onboarding | You, (with our Transition Coordinator) | |
| Self-Verification | You | You |
| Prepare Practice Profile | You (with our Transition Coordinator) | Us |
| Determine Selling Price | You (with guidance from our Orbit Estimator or an external valuation specialist) | We’ll calculate a value and recommend a price. You choose. |
| List Anonymously | You (with our Transition Coordinator) | Us |
| Receive Buyer Inquiries | You | Us |
| Screen Buyers and Select One | You | Us |
| Manage Communications with your Team | You (with our Transition Coordinator) | Us |
| General Support | Chat / Email / Call | Full Proactive Support |
Using a Dental Practice Broker Benefits of using an independent Practice Broker
If you prefer to use a dental broker, there are many great ones in the marketplace to help you. These brokers typically will:
- Prepare your practice profile
- Help you evaluate an appropriate asking price for your practice
- Market your practice to prospective buyers
- Maintain anonymity of your practice.
- Provide education on all “deal Points” and give best-practices recommendations.
- Field all initial inquiries
- Liaison with your selected attorney and accountant to provide them the documents they request, handling all questions and communications.
- Oversee the transition process from beginning to end.
- Work with escrow (if applicable) to consummate the sale.
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