I chose to work with Dental Elite after coming across an advertising flyer and receiving a recommendation from my accountant. The service I received was excellent throughout the process, and I found Dental Elite particularly helpful with regards to the CQC Application, which didn’t even exist when I bought the practice. I would advise other professionals looking to sell their practice to gather as much of the paperwork as they can before beginning the sale process, as this will help ensure a more speedy and streamlined sale.
Private: A widely recommended service
Selling a business is on most occasions part of a retirement plan. The vendors working with Dental Elite are preparing to make big and important decisions. Their retirement lifestyle heavily depends on the assets going into the retirement pot and the value of the business plays an important part in topping up that pot.
Seek Early Advice
Plan ahead and maximise your retirement by speaking with the right people early on. Speaking with a financial adviser is crucial to obtaining early advice. They will provide a plan and present scenarios on ‘what your retirement lifestyle’ will or can look like and when you can execute it. Obtaining a valuation is a crucial part of this process in seeking early advice. The valuation will give you an idea and your financial adviser of what to expect.
Are you a key grosser at the practice? Were you planning to leave immediately post sale? Setting Expectations requires forward planning and sourcing the right advice from the right people early on. Our free valuation report details typical transaction structures and what is likely to be expected from you post completion. Planning ahead can eliminate unwanted or unnecessary tie-ins and in turn maximise what you achieve for the practice.
Obtaining a Valuation vs Direct Offers
Experience shows us that most direct approaches are very un-competitive particularly in the first instance. To give just two recent examples we have been acting on a sale for a relatively large practice who were ready to commit to Heads of Terms with a corporate for £1.9m. The ultimate sale price was actually nearer to £2.7m and the terms were no-where near as onerous. A second example is for a cluster of practices who had committed to Heads of Terms for a value less than half what they were actually worth. In both cases we ended up managing the sale, we were paid a fee and the practice owners walked away significantly better off.
Of course you may not have a buyer in mind and as such we hope that you choose to instruct us to sell your dental practice.
Whatever your circumstances we would be delighted to provide you with our professional opinion and with dental practice valuations increasing at such exponential rate, even if you had a valuation six months ago we strongly recommend an up-to-date professional opinion. An opinion that we promise we be presented to you in a clear and logical way.