For many dentists, their practice is more than just a business, it’s the cornerstone of their professional identity. It represents decades of hard work, relationships, and dedication. So, when it comes time to consider selling, it’s no surprise that many hesitate. In fact, it is very common for dentists to hold on to their practice longer than they should. Whether from uncertainty about retirement, fear that selling means they must stop practicing altogether, or simply the deep emotional attachment to patients and staff, delaying the decision feels safer in the moment. Unfortunately, waiting too long can have costly consequences.
Dentistry is an intimate profession. Patients often span generations, and staff members become trusted friends and teammates. The idea of letting go of these relationships can feel like abandoning a family. Add to that the uncertainty of “what will I do after retirement?” and it’s easy to see why many dentists postpone the decision. Yet, while these concerns are natural, they shouldn’t overshadow the financial and professional realities of practice ownership in the later years.
The Financial Impact of Waiting
One of the most significant risks of delaying a practice sale is the decline in practice value. As dentists reduce their schedules, take more time off, or refer out procedures they once performed, revenue inevitably drops. This decline is not just a small dip, it can erode practice value by tens of thousands or even hundreds of thousands of dollars. From a buyer’s perspective, a practice with shrinking production looks less attractive and riskier to purchase. What was once a strong, thriving practice can quickly become a distressed asset.
Another often-overlooked consequence of waiting too long is the impact on staff. Team members depend on the practice for their livelihoods. When production slows and uncertainty grows, staff may begin to worry about their future. In some cases, reduced schedules or declining collections can lead to fewer hours, smaller bonuses, or stalled career growth. If a practice’s future feels unstable, talented employees may begin seeking more secure opportunities elsewhere. Losing key staff not only hurts morale but also further reduces the practice’s value in the eyes of potential buyers. What began as an attempt to “protect the staff” by delaying the sale can ironically put them at greater risk.
Dispelling the Myth: Selling Doesn’t Mean Stopping
A common misconception is that selling the practice means closing the book on dentistry. The reality is quite different. Many dentists continue to work after selling, often as associates in the very same office under new ownership for part time and sometimes full-time employment. This allows them to keep practicing the clinical side of dentistry without the administrative and financial burdens of ownership. This type of arrangement provides flexibility: dentists can maintain patient care, enjoy reduced schedules, and transition into retirement at their own pace.
Planning Ahead Protects Value
The best way to avoid the “hang-on-too-long” trap is to plan ahead. A proactive transition strategy gives dentists control over when and how they exit, while also protecting the value of their largest financial asset. Advisors often recommend beginning transition planning at least three to five years before an anticipated sale. This ensures that the practice is still operating at full strength when it hits the market, maximizing value and giving the selling dentist the best possible financial return.
Delaying a practice sale is understandable, but it comes with risks that can’t be ignored. By planning early, understanding that selling doesn’t mean stopping, and keeping the practice strong until the very end, dentists can protect their legacy, support their team, and enter the next stage of life with confidence.
Article Written by:
Matt Poppert, MBA, CBI
DDSmatch South
mpoppert@ddsmatch.com
