The advantages of a good business relationship
Chris Ballard set up St Mary’s Dental Practice in the Thameside market town of Wallingford, Oxfordshire in 1988. He decided to retire last year after practising dentistry for over 40 years. Here he talks about the process of selling his dental practice:
“I chose to work with Dental Elite for the sale process of my practice because I had previously used them for a valuation and the company was also recommended to me by my financial advisers, Montgomery Charles.
“Initially, I provided accounts for a period of two years before the valuation consultant, Leah Turner, from Dental Elite visited the practice. All other aspects of the valuation were dealt with during that visit and I was able to discuss every point directly.
“When you are selling a practice, I believe that it is really important to become properly acquainted with the valuer. It is essential to build a good business relationship with your representative because there are bound to be some difficulties that arise during the sale period, and it is helpful to know the person who will be negotiating the trouble spots on your behalf.
“Leah was really helpful throughout the whole process of the sale. As a professional consultant, she knew when to stand back to allow the buyer and myself to discuss possible solutions, but equally she was always ready to step in with help and advice if it was required. Leah was the only person to be able to make direct contact with both solicitors and she was prepared to ‘rattle cages’ when it was necessary. I felt that Leah was excellent at her job and she managed to keep the process going successfully, when it could have run into difficulty.
“The sale process took a year to complete and of course there were some challenges along the way – which were largely due to the buyer’s solicitor. In light of this, I would advise owners who are thinking of selling a practice to use a solicitor from the approved list provided by Dental Elite, and I would also suggest that they do not proceed with a sale unless the buyer does the same. I worked with Alexander Hall and the team from Meade King Solicitors – they were very professional and I would highly recommended them. I would also suggest that when negotiating with the solicitor to act for the sale, the seller should ask for a fixed fee as this can save a lot of money.
“I was very happy with the service provided by Dental Elite and would most certainly recommend them to other practice owners. They performed a very good service and I had full confidence that Dental Elite were always acting in my best interests to secure the most favourable outcome.”
With an experienced team of expertly trained practice consultants, Dental Elite is one of the largest specialist dental practice sales agencies in the UK. The team of professionalsare on hand to draw accurate practice valuations and to guide you through the entire process with all the vital guidance you need to complete a sale or purchase.
If you are considering selling, Dental Elite offers a free valuation service with no obligations. For expertise and support you can rely on, give Dental Elite a call today.
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