Retiring Dentist - Blog Archives

Dentists: The Wrong Tactics Will Prove Costly! 

Here are 4 absolute key considerations that you should be thinking about when selling your dental practice: 

1. Start early. 

Selling a practice doesn’t happen overnight. It is a process that can take years so if you are looking at getting out in the next 12 months or so, you need to start the process now! 

2. Have realistic expectations of what you are worth. 

Throw away any inflated ideas of what you think you ‘know’ you are worth. There are so many factors to consider…

I will give you just one example, a dentist who is 55-65 and close to retiring will more than likely be servicing the same demographic of patients. Putting it bluntly, older patients are depreciating assets and that means there could be a sizeable gap between the paper worth of your practice and what a buyer is actually willing to pay for it. 

3. Keep your essential equipment and facilities up to date. 

An excellent way to maximise your value to have it so the new owner can step in without having to incur significant costs replacing equipment or updating the premises. 

If you don’t do this, you leave yourself open in sale negotiations for potential buyers to come in with low-ball offers on the claim that equipment and facilities are not up to date.

Don’t unwittingly lose cash ignoring points such as number 3 during negotiations with potential buyers. Download our eBook here to learn about 9 more key factors you must be aware of during negotiations to ensure that you don’t end up accepting less than a premium offer for your dental practice.  

4. A sale doesn’t necessarily mean it’s the end! 

Staying on after the sale has completed in a temporary part time role, ensures continuity for your patients and staff. 

If you plan to disappear straight afterwards so could they, which would immediately diminish your value and could prove costly for you! 

So if you are ready to start serious negotiations for the sale of your dental practice here are 3 ways I can help: 

Download our FREE guide to the 9 Keys Steps to Stop Losing Cash in Your Dental practice sale negotiations. This includes the five best proven tactics for success and you can read about them by clicking here. 

Speak to a member of our highly trained team who can give you a realistic valuation on your Dental practice by clicking here.

And if you want to be introduced to some of the top Dental practice acquirers in the country then reply to this email with the word ‘Guild’ and I will see if I can help! 

Best wishes, 

Kimberley Hagues

PS. It only takes 2 treacherous traps to destroy successful negotiations when selling your Dental practice. Find out what they are now by downloading our eBook here. 

The Necessary Dental Pivot!

This is a challenging time for Dentists. Everyone is being asked to stay inside.

Businesses most affected by this are ones that provide services in local areas. Restaurants, salons, gyms, local markets and of course Dental practices are all businesses that deal with people locally and in person.

To maintain social distancing and self-isolation, means patients are cancelling their appointments or the practice cancelling procedures that can wait until after we have 'flattened the curve'!

In the meantime, you have all been forced to close. Or you are very close to it!

But some businesses have been able to adapt and I have seen evidence of this myself in my local area…

Local market traders are undertaking deliveries! Restaurants have started takeaway services!

Any service necessary to keep cash flowing and profits up... They are doing it!

Being able to adapt and continue serving the needs of their community will put these businesses in the best position to survive what is going on in the world right now!

So how will you adapt?

Well adapting through acquisition is one of the ways to keep your cash flowing and your profits up, and by downloading our eBook here on the 5 Fatal Errors when acquiring you will be able to avoid the mistakes that most buyers make when acquiring a Dental practice.

If you don’t, then you won’t know the 7 factors that can accurately predict the profit uplift potential and how will you know you are making a sound investment?

So if you are wanting to acquire a Dental practice and make sure you do it right the first time, then here are 3 ways I can help:

Download our FREE guide so you can read about the 5 most common mistakes that buyers make when acquiring a Dental practice by clicking here.

If you want to know why acquiring now will get you a great return on your investment then speak to one of our highly trained consultants who are here to talk it through with you by clicking here.

And if you want more information on how to join our emergency buyers guild then reply back with the word ‘Guild’ and I will see if I can help.

Best wishes,

Kimberley Hagues

PS. Never before has it become so necessary for us to adapt to our rapidly changing situation. Download our eBook here, so you can make sure you don’t adapt in the wrong way!