When we meet a new client it is incumbent on us to understand the possibilities of their dental practice.
Dental Practices come to the market for a host of reasons. Retirement, relocation, upgrading, downsizing, change in career, ill health, divorce or even bereavement.
We understand that not everyone will be able to ‘plan a sale well in advance’. Regardless of your circumstances you can rely on us at Lily Head Dental Practice Sales to provide you with practical advice on how to maximise the value of your dental practice whatever your circumstances.
We know that all dental practices have their own unique set of circumstances. Although of course dental practices and the dentists that own them do have many commonalities.
To actively market a dental practice we believe we have to understand the people and the business data.
So our discussions with the vendor are likely to be structured in the following way.
- Objectives of the vendor. Short and long term.
- Buyer profile relevant to the dental practice
- Growing top line revenue
- NHS contract(s) performance
- Creating more revenue streams through the introduction of new services.
- Goodwill dependency on the principal
- Introducing Plan Schemes
- Presentation of the practice. Physically and on line
- Competitor Review
- Property lease arrangements. Lenders are generally looking for a 15 year lease to be in place at the time of purchase.
- Cost Management
- Staff number management
- Resolving any HR issues
- Associate contracts
- CQC Requirements
A vendor may decide to go straight to market or defer for a period depending on the outcomes they are looking for and their own timelines.
The fact is that vendors remain in control of the situation. Our job is to provide information and insight to help them make the best decisions for themselves and their family.
If you would like to understand the possibilities for your dental practice please Contact Us today.