Why is it important to get a comprehensive, accurate appraisal of your dental practice?
Professional dental practice appraisals are based on a specific set of criteria which have been time tested against actual dental practice sale figures. Even so, each practice is different and each valuation can depend upon a unique combination of criteria specific to each particular practice.
If you have a realistic valuation on your practice you can craft an optimum marketing strategy and respond to the resulting offers with confidence. If you have no real idea what your dental practice is worth but decide on an arbitrary figure based upon what you would like to get for it, you’re setting yourself up for disappointment and operating at a considerable disadvantage from the get go.
Appraisals can change with market conditions. If it was done several years ago and market conditions have changed, a current evaluation can be a valuable asset in the event of catastrophe such as a debilitating illness, accident or death, that necessitates an unexpected sale of the practice. Emergency financing may be also arranged based on the evaluation and whether or not it was performed by a reputable company. Yes, an up to date PracticeLink appraisal will be accepted by most financial institutions for financing applications.
Free appraisals are often not worth the paper they are written on. An accurate appraisal takes time and effort, knowledge and experience. An unrealistically high practice valuation may sound wonderful but it won’t help you get financing or sell your dental practice for a higher price if it isn’t supported by the day to day reality of your practice.
PracticeLink has experience in all 5 states in Australia. We have completed valuations and sales for practices all over this country. PracticeLink has experience in practice sales; practice acquisitions, mergers and partnerships; corporate buyouts, etc. We have worked in every type of community across the country, from small rural towns to large capital cities, in all sorts of scenarios from the mundane to the wildly unusual. We have had successes where others have given up!
Whether or not you’re in the market to sell your dental practice right now or just want to explore the best exit plan options for a future sale, click the button below to schedule a free consultation. It’s never a bad idea to get good information that can make all the difference your future!