Your dental practice is a valuable asset – be sure to get an accurate dental practice valuation
Your dental practice is a valuable asset so if you’ve decided to sell then it’s important you get a valuation from an independent expert before you put your practice on the market and accept an offer.
Dental practices vary considerably in many ways and there are several key factors that will impact on a practice value. Anyone valuing a dental practice needs to consider comparable market data and ensure this data is up to date – there’s no point using market data that is two years old!
A complex market requiring specialist advice
The dental sector is complex and needs to be approached with caution. Anyone putting a market value on your dental practice must understand how the market works, the different types of contract, location, type of practice ( e.g. private vs NHS). They must also look at how the practice is being run as this will also have an impact on the value.
Get the best possible dental practice valuation when selling your dental practice
At the end of the day, when you sell your practice you want to get the best possible value for it so i makes sense to ask advice from specialists who sell dental practices all day every day and who are in touch with not only dentists but lawyers specialising in the dental practice market as well as other professionals.
Selling a dental practice – our seven steps for success
Our advice to anyone thinking of selling their dental practice is to make sure you consider the following 7 key factors when taking the first steps towards selling:
- Always get an independent valuation.
- Choose a dental broker who has experience.
- Make sure your chosen broker has access to a good supply of buyers.
- Ensure your broker will put your practice to the open market.
- Check who’s paying the dental broker fee – you or your buyer?
- Choose a broker who has a good office-based support team who will be on hand throughout the sales process.
- Look for a dental broker who is committed to the Practice Sales Promise to ensure they operate to a high level of service and integrity.