Selling Your Dental Practice
Representing the best quality practices and marketing them confidentially to prospective buyers.
Representing the best quality practices and marketing them confidentially to prospective buyers.
Preparing your practice for sale can lead to much higher valuations. Buyers will often be prepared to pay a premium for practices that are well managed and administered.
Corporate buyers operate fixed valuation models based on predetermined financial criteria so maintaining accurate financial records in the period leading up to the sale is crucial.
We are Xero adviser certified and can assist you in the set-up of accounting software should you not have a solution in place. The team at Mayfield Practice Sales are very experienced in this area and we regularly assist clients in achieving enhanced sale prices through a process of focused preparation that can begin well in advance of a planned sale.
We understand what a stressful and emotional time, selling your dental practice can be. Whether you have decided to sell after a few years or after a lifetime’s work. You may be wondering;
Or you may have tried to sell before, but it’s fallen through and you want to ensure it doesn’t happen again.
All of this can leave you worried you won’t achieve the best possible deal for your practice, wondering what steps to take next and who should you trust to advise. We can help answer any of these concerns and guide you through the sale of your practice. Helping you make informed decisions at every step.
Selling your practice can often leave you confused with the terms, options and decisions you are left to make. Here at Mayfield, we want to make the sales process as easy and stress-free as possible.
But we also want you to understand it and know why you are making the decisions you are. That is why here at Mayfield we believe in explaining thoroughly every option available and the impact of each decision you are making.
Once your valuation has been completed, we will talk you through this with our team. You will see our workings on the screen and we will go through every number. We want you to come out of it understanding how we came to our valuation and what changes can be made to increase this valuation.
Every buyer option we then look at or offer made will then be added to your own financial model and you will see for yourself the impact that those decisions will make on your end valuation.
We fully understand the day-to-day professional and personal demands our clients have. That is why we make ourselves available in the evenings and weekends. If you need some analysis to be gone over again or a query has come into your head and you want a quick five-minute call. We are here and happy to help.
We have many clients that come to us that aren't sure whether they want to sell yet but would like to know what their practice is worth and what their options are. After chatting through their goals and worries we sometimes recommend that they do wait. If we see financially that they would be better off waiting then we will recommend this fully.
For clients that are unsure if they want to sell, we offer our ‘Ready for Sale’ health check. This is an excellent way to make sure that when you do decide to sell you get the optimum price for your practice and that the sales process is hassle-free and smooth.
Our comprehensive review will uncover any potential issues that will impact the achievable sale price of your practice and give you valuable insight into business processes within your practice. For more information on our 'Ready for Sale' health check please read our blog.
There are many options out there when you decide to sell. Many decide to sell to a corporate, some to an associate, whilst others find a private buyer / investor. You may have in mind the Buyer you want to sell to and think that it is easier to go direct. Of course, this is possible but one we strongly recommend against it. We have intricate knowledge of the buyers and what they are looking for and how we can negotiate a better deal with them. We would not want anyone to sell their practice and regret the deal terms. We have seen firsthand how sellers can end up with less than they should have.
Once we have your valuation we will discuss each buyer option and the pros and cons and what it would mean precisely for you and your practice. Different buyers offer different terms and emphasis on post acquisition working arrangements. We will advise you on what we think would be best but then go through it so that when you do make a decision you are confident why you are making that decision and exactly what the terms of the deal are. You want to ensure that post-completion there are no hidden surprises in the deal. If a deferred element of your sales price is determined by hitting annual targets, we ensure they are fair and achievable.
We like to also look at alternatives for each and every client. We like to bring new and original options to our clients that they didn't even know existed. No client is the same and working with you we get a strong understanding of what you are after and what would suit you and your practice. Some clients want to work with the new buyers and some just want to focus on their clinical work. We tailor the deal specifically to our clients and achieve their personal and professional goals.
