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Don’t Just Hope for The Best…Take Steps to Ensure It

Posted on May 23, 2024 in Articles & Finance & Frank Taylor & Associates

The purchase of a dental practice is, for many, one of, if not the, biggest decision of their careers. In other aspects of our lives, decisions of arguably lesser consequence are often well researched with expert advice often called upon; from test driving a car to trying on clothes in a shop’s fitting room and getting help from the assistant.

When purchasing a dental practice, a decision which requires the careful consideration of multiple variables, and which is likely to be significant both professionally and financially, it makes perfect sense that the prospective buyer will want to engage the services of experts in the field.

Membership with Frank Taylor & Associates will ensure you can be guided expertly and smoothly throughout the purchase process, and gain access to the most extensive selection of practices available for sale in England and Wales. In addition, the team will help you identify the best potential practices to suit your circumstances.

David Brewer, Managing Director of FTA Finance, continues “we are proud of our record in partnering with buyers. Naturally securing the best financial deal is a big part of the purchase transaction. Last year we helped 175 applicants through the finance process with a 95% success rate on their applications”.

“It’s really where our experience and knowledge of the market pays dividends”, continues David. “If an individual was just to go to one finance provider with one application and hope for the best it would require a great deal of good fortune for it to actually be the best available deal for them. Our insight and knowledge of the market means we have access to the competitive rates, often ones that wouldn’t otherwise be available and our experience of the process means we can present your application in the best possible way and therefore greatly increase your chances of success”.

“We will undertake an affordability assessment, to make sure that the search is targeted at the right level and that any financial arrangement does not put unnecessary stress or risk on the buyer. It’s about getting the right balance, we obviously want people to buy the practice they want and to achieve their career goals, but it’s important we are realistic and ensure that they aren’t over committed”.

“We are independent and so therefore don’t have a vested interest in steering our clients in a particular direction or to a particular lender, other than the one that is right for them.”

“Whilst we are fortunate that many lenders do look favourably upon applications in the dental sector, it’s also important that we make it as easy as possible for a funding application to be approved. Our experience means we know what individual lenders are looking for, how to present business plans, cash flow projections and the other information required in an application. The better and clearer the presentation, the easier it is to get a “yes” and the better the underlying terms are likely to be”.

For more information on how Frank Taylor & Associates can help you in the purchase of a practice call 0330 088 1156 to discuss your requirements with one of our client managers.

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