PracticeLink Professional Practice Transitions proven 6-step approach is designed to bring every transaction we facilitate to a successful close with not just a satisfied buyer and seller, but with the staff and patients, as well.
Step 1. Comprehensive Dental Practice Valuation
To get things started, we will meet with you to discuss your practice, plans and our services. We can’t make this happen if we don’t visit your practice, and get a feel for the practice and flow. You don’t need to worry this is scheduled at your convenience and can be done confidentially without staff and patients in the building to ensure confidentiality.
From there, we suggest a comprehensive, practice valuation be completed using multiple business valuation methods, to arrive at a market value. After which time we will converse on the findings and agree on a realistic and satisfactory starting price
Step 2. Marketing Your Practice Listing
We will develop a customized marketing plan for selling your dental practice which includes listing it in our website’s searchable database of dental practices for sale along with our extensive database of current buyers. We additionally market your practice through a broad range of targeted channels which may include journals, trade publication advertising, online marketing and direct mail.
No other transition firm has reach or breadth of marketing that rivals what we offer. We touch more potential purchasers on a regular basis than our rivals. Rest assured, your information is kept in strict confidence and make sure that your practice is not identifiable in any of our marketing.
Step 3. Identifying the Buyer
To protect you and other Seller’s interests, we require all potential buyers sign a confidentiality agreement. We also ask them to fill out additional background information including proof of their ability to purchase.
In nearly all cases, unless you request otherwise, we then do preliminary work to determine a potential purchaser’s actual interest in and ability to purchase your practice before approaching you for a discussion about the potential purchaser. We want to ensure that we match the right buyer with the right practice.
Step 4. Negotiating the Deal
Once we have identified an interested purchaser, PracticeLink Professional Practice Transitions works with both parties to negotiate a fair and equitable initial purchase structure, no matter the type of transition. Our work does not end there, though, throughout the entire process, we continue to work closely with both parties in negotiations, involving the accountants and lawyers of the seller and purchaser to ensure a successful transaction.
Step 5. Securing Financing
If requested, PracticeLink Professional Practice Transitions team can help your purchaser obtain financing for the transaction. Financing in the dental acquisition world is no longer a given. That said, due to our expertise and track record, in many, if not most, cases, we are still able to help many purchasers to find financing. We even have lenders who will finance up to 100% of a practice acquisition cost.
Step 6. To Closing. and Beyond
We are on your team from start to finish, working with you and your potential purchaser, respective accountants, legal and the lenders. We can also work with your office team to ensure all goes as smoothly as possible and on day one with your new purchaser, to ensure patients are not impacted. There are never just two people in a transaction and we’re experienced and equipped to work with all sides of the transaction.
This sets a tried and true pathway from listing through closing. We encourage starting the valuation process as early as possible, even three to five years out, so that you set yourself and your practice up to maximize transition value.
You can read more about our valuation process here and contact us any time to find out more. Please note that these steps are general and many of the details, intricacies and important little pieces may vary transition to transition. No two deals are alike. It is easy for a sale to fall apart at the last minute, which is why you want to have an experienced transitions expert at your side. Peace of mind is invaluable.
When you work with PracticeLink Professional Practice Transitions, you need not worry. We’ve got this. “We’ve got your back!”
Free 15-Minute Phone Consultation
It’s never too soon to get great advice! Whether you’re ready to sell your practice or just beginning to investigate your transition options, call today, 0425 799 778, or contact us online to schedule a free 15-minute consultation.
Register for your FREE consultationGet answers and invaluable advice about achieving your goal of selling your dental practice. We look forward to talking to you!