5 reasons to update your practice valuation every year
At Frank Taylor & Associates we know just how important an up to date practice valuation is. A business can change considerably over a year, as can the sales market. That’s why, at FTA, our experts recommend you up date your practice valuation every 12 months.
- Keep in line with the current market values – the dental sector, just like other business sectors, is subject to change so it’s always good to know how your practice compares to other similar practices within your area.
- To see the tangible results of all your hard work – running a dental practice takes a considerable amount of time and effort so by having a valuation updated every year, you’ll be able to clearly see the results of all your hard work.
- Know your start point – if you want to build a plan, particularly if you’re looking to grow your business or you’re thinking of selling a few years down the line, you need to know the point you are starting from now – an up to date valuation will allow you to do just this.
- Identify new opportunities – a practice valuation will help you to identify new opportunities for growth within your business. If you know what these are, then you’ll be able to put in place a plan to build on these in the coming months and take your practice forward.
- Future planning- as we all know from the past few years, life can change very quickly and no one knows what is round the corner. By having an up to date practice valuation you will be able to effectively plan for the future and ensure you know where you want to be further down the line, be that in 12 months time or longer.
For further advice, or to book a valuation, please contact us on 0330 088 1156.