Should You Invest in New Equipment if You Plan to Sell? | Baltimore Dental Brokerage
Dental Practice Sales & Transitions
The equipment you have on hand can play a vital role in the quality of care you provide. Staying on top of and employing the latest technology is critical. However, if you are thinking of selling your practice, you may need to consider any new purchases carefully.
The answer comes down to three questions based on your individual situation:
- Will it increase the value of your practice?
- Will you recoup your investment?
- Will it attract a new buyer?
If you have decided to purchase new (or newer) equipment, here are some key considerations:
Don’t rush: A hasty purchase can be costly. Instead, spend several weeks researching the various choices. If you are thinking about selling your practice in the near future, you may not receive the greatest value out of your investment. Still, there may be several other factors to consider. Your dental broker can help you weigh the pros and cons of equipment purchasing decisions.
Examine features and benefits: Before you make any equipment purchase, consider the equipment itself. Does it come from a reliable manufacturer? What kind of warranty is included? Can you buy a certified, pre-owned model that will work just as well? If you are buying used equipment, consider seeking an independent opinion on the piece’s condition and useful life. Will it fit in its designated space? Will you need to make changes to electrical and water connections?
Next, evaluate your needs and ask yourself these questions: Does the equipment have features you need, or are there bells and whistles you can live without? How does it compare to similar makes and models?
What is the ROI: Make sure there is a demand for the service you will provide using the equipment and if it is something a buyer would use. Think about how often it will be used and whether your team will need extensive training to use it. If selling your dental practice is in your future, new equipment that requires extensive training may not be worth it.
While not all of these factors may apply to your planned equipment purchase in every circumstance, an investment in major dental office equipment should not be made without thorough consideration and research. Your dental broker can prove an invaluable sounding board before you make a decision.
Contact our dental brokerage in Towson, MD today for a complimentary consultation and find out what the right decision is for you.