The journey for Frank Taylor & Associates began in 1988 when Frank Taylor and Sandra Rhodes left Claudis Ash to set up Frank Taylor & Associates.
Prior to Frank Taylor & Associates there was no open market for the sale of dental practices so Frank and Sandra were innovative in introducing the idea that dental practices should and could be run as a business, a concept which was ground breaking at the time! It is not unusual to speak to principals today who credit Frank with their initial business plan. However, not all of his beliefs were successful as he was incredibly vocal that the fad of Email would never survive.. interestingly, in the past twelve months we sent 2 ,640,000 emails to our clients.
The first practice ever valued for sale was in Hove, East Sussex for a record breaking £21,200, compared to today where a similar practice would be £625,000 an increase of 3061%!
Over the years we have grown our client base of sellers and buyers, and today we have 4,921 dentists registered an interest in buying a dental practice.
To put it in context if you were looking to sell a dental practice in Hertfordshire today we have 2066 dentists looking for a mixed NHS/Private practice and 1477 for a fully private practice.
In 2000 Chris Strevens and Andy Acton who were city bankers bought Frank Taylor & Associates, originally as an investment however, they swiftly moved into active business ownership and transformed the business model, quickly establishing it as the UK’s leading valuer and sales agent to the dental profession. A position we are proud to still hold today. Frank and Sandra remained with the business until Frank retired in 2002 and Sandra in 2007.
Chris, Andy and I (Lis Hughes) are incredibly proud of our team, we have an exceptionally high retention rate for staff and, it is great to see such a genuine feeling of ownership from them and their desire to make sure all our clients experience the highest service levels at all times. Our commitment to customer excellence has never wavered and our recent initiative the Practice Sales Promise continues to evidence this.
The dental market survived the financial crash of 2008 better than most other sectors and it was at this point we started to see a change in attitude between private and NHS practices, as banks who were happy to continue providing funding for the purchase of dental practices were looking for security that bank loans could be paid and what better way than a regular income from the NHS? So guess what the value of NHS goodwill increased significantly compared to private and continues to do so to this day.
In 2013 we extended our physical presence and opened our Manchester office to provide a local presence for our ever growing northern clients, and with FTA Wealth based in Dorset it is encouraging to see how this has enhanced our brand awareness in the South.