Given the year we’ve had, there’s been lots of talk about whether there’s still a market for dental practice sales. Is this just chatter and online talk? Is this scaremongering? What’s the true story?
Is there still a market for dental practice sales?
Andy Acton and Chris Strevens of Frank Taylor Associates discuss the current state of the dental practice sales market and whether there is still demand for buying and selling a dental practice despite the COVID-19 pandemic.
There is still demand for those looking to buy a dental practice.
After deciding that the dental sales market is still solid, Chris and Andy discuss that there is still demand mainly because many associates are now looking to buy a dental practice in order to gain job security.
Prior to the pandemic, many associates were happy not to have business/practice responsibilities but now, with the change in circumstances and the fact that many principals are doing the work themselves in order to keep practice costs as low as possible, many associates are finding they are unable to earn the same level of income as before and are feeling vulnerable so are keen to take a step onto the practice ownership ladder.
It is still a good time to buy or sell a dental practice.
It was concluded by both Andy and Chris that practice values remain consistent and you would be wrong to assume that you can get a cheap deal if you’re looking to buy a dental practice. Practice sales values are holding strong, with some practices selling for full or above asking price.
This means that those selling a dental practice can be confident of receiving a good value and those buying a dental practice can expect to pay a fair market price.
If you’re looking to buy or sell a dental practice, don’t listen to rumours about the dental sales market as they are just that…. rumours.
For expert advice when buying or selling a dental practice, please call us on 0330 088 1156.