Finding the right practice isn’t easy for a dentist looking to move into a new area. With multiple dental offices for sale in San Francisco Bay Area, how can a practitioner know which is right for his or her needs? Many factors need to be taken into consideration as this important decision is made. Following are some of these factors.
Dentist to Patient Ratio
When comparing dental offices for sale in San Francisco Bay Area, consider the ratio of potential patients to dentists. While there is no perfect number for this, most dental practitioners look for a practice with a ratio of 2,000 to 1. Learn how many people live within a one to the five-mile radius and the number of people residing in the area. This provides an individual with basic information about the competition in the area and how well they may do if they choose to obtain a practice there.
Furthermore, the demographics of residents need to be taken into consideration. For example, a pediatric dentist may not wish to locate their practice in an area that has more senior citizens than young children. Residents with high disposable income are more prone to choose cosmetic dentistry than those with limited funds in this area, and this may affect where practice is also chosen. Multiple factors need to be taken into account to ensure the right area is selected to set up shop.
Purchase a practice on a busy street, and more patients will see the practice regularly. As a result, they are more likely to call for an appointment when they need dental work. In contrast, a practice hidden away in a slow area may find it harder to draw people in. Keep this in mind when choosing a practice to buy, as it could have a significant impact on your bottom line.
Western Practice Sales works with dentists looking to buy a practice as well as those who wish to sell one. They work with clients to find the right fit for the individual, as opposed to simply trying to sell a practice without any consideration for the buyer or the seller. Call them to learn more about how they can be of help to you. You want to ensure the right choice is made, and they work hard to make certain this is the case.