Selling Used Equipment Before Selling Your Dental Practice | Dental Practice Sales Maryland
Dental Practice Sales & Transitions
If you are planning on selling a dental practice in Baltimore, have you considered whether a buyer will want your equipment? There is a strong market for pre-owned dental equipment, but you must beware of pitfalls.
Selling equipment might make sense in a few scenarios. For example, you are a retiring specialist and want to attract a wider array of buyers – such as general dentists – who may not need equipment unique to your specialty; or you have excess, broken, or obsolete equipment in storage or in the office.
Remember these points:
- Demand is generally great for handpieces, sensors, and Cavitrons
- Even if equipment is not working, it can be used for refurbishing or parts
- Selling may help you recoup operational costs and better manage expenses
Even if you aren’t selling a dental practice, you may have broken, old, or idle dental equipment sitting around. Hanging on to used technology can be costly – think about storage costs, depreciation, and loss of functional space.
Depreciation and improper storage damage will render your idle equipment less valuable. In general, dental equipment loses 10 percent or more of its value every six months to a year. The sooner you can sell unused equipment the quicker you will receive top payout on the secondary market.
If you are thinking about disposing of broken equipment, first explore whether there are any regulations involved. Improper disposal or recycling can result in fines and potentially harm your practice reputation.
Should you try to sell your equipment yourself? If you are confident in its condition and value, this could be a viable option. However, you may encounter added expenses such as professional inspections, sourcing customers and shipping.
If you don’t want to sell the equipment yourself, work with a dental equipment reseller. To ensure you have found a reputable company, ask for personal recommendations, and ask prospective companies a series of questions:
- How is equipment valued? You want an accurate and fair estimate. Ensure that your reseller is familiar with current prices and qualified to appraise your type of dental equipment.
- How are payments arranged? Look for transparency on terms and conditions: Do you need to ship the equipment first and then learn the value? Request information about estimated payment time to avoid unexpected delays.
- How is shipping handled? Who pays? For large pieces of equipment, you want to make sure that the company has a reliable shipping process, including a sound process for transporting fragile items. Ensure that you are not liable for damage.
It might make sense for you to sell idle or excess equipment before you sell your dental practice. For more guidance on all aspects of the transactions you’re considering, contact our experienced dental brokerage team in Towson, MD for a free consultation.