Frequently Asked Questions
- Your valuation is a flat rate. What does that cover?
- What does the transition service cover?
- Why should I use your services and not a broker?
- How do you find buyers?
- I already have a buyer. What do I do now?
- How much should the total transition cost me?
- I'm looking for a practice to buy. How can you help me?
- I've heard great things about you. Where do I find more information?
- How long from start to finish before I'll have my practice sold?
- There seems to be "side deals" in this industry. Do you have any "deals" made with any entity?
- Are you new to the industry. How many years of experience do you have?
- Will you help me find the right buyer?
The initial consultation regarding the sale of your practice, the analysis of the data you provide, the preparation of the valuation report, and a follow-up discussion to review the valuation report with you.
Coordination and communication between the attorneys, accountants, and any other involved professionals to keep the sale and purchase of the dental practice on track and to ensure it happens as timely as possible.
We use industry "best of practices" when completing your valuation. We perform a thorough analysis of your tax returns, practice financials, and dental practice data to substantiate your practice valuation. Our valuations will be what the lenders need to lend to the buyer, attorneys and accountants. Our valuations will hold up with lenders and in court, if challenged. Our dental consulting solutions will cost you less, putting more money in your pocket when the transaction is completed.
We have an active email list of buyers who have signed up to receive notifications of practices for sale from all over the country. We advertise in Membership Matters, and on a number of our partner company websites to drive potential buyers to our website.
We will value your practice and work with both the seller and buyer to develop an agreement that is fair and equitable for both of you. In many cases, we are hired by both the selling dentist and buying dentist to negotiate a fair deal, outline the contract and take the contract to each attorney to finalize. We act as a fair and neutral third party to develop the best solution and transition for both of you.
The valuation report is a flat fee plus $250 per hour for transition help we provide to you in listing, marketing and showing your practice to help the transaction move forward. You can estimate accounting fees of approximately $500 to prepare income tax projections related to the sale, and attorney fees for working out details and drafting the transaction documents between $4,000 and $6,500. A good estimate for total cost is $8,500 to $11,500.
We will act as your advisor to help you understand the questions you need to ask to make sure the practice is the right fit for you and that you don't have any missteps along the way. If you find a practice through a broker, we will help you ask the right questions, do the due diligence analysis, and make sure that you don't create a situation for yourself that you won't like, or one that will put you in financial difficulty.
We suggest contacting your colleagues. Please feel free to contact dentists that have worked with us and have known us for years. They are not paid for their testimonials or referrals – they are providing you unbiased information based upon their experience with us.
We will first need all your practice data, financials, and tax returns before we begin the valuation. Once we have this information in its complete form, we can have the valuation back to you in about two weeks. Once we advertise your practice, it typically takes around 3-6 weeks to locate and negotiate with a buyer. We then rely on the attorneys, accountants and the lender to perform their due diligence, which could take another 3-8 weeks. You should plan on at least eight weeks to complete the process.
We believe in full disclosure and transparency with all of our selling and buying dentists. We don't accept, nor will we ever accept, any type of 'kickback', reimbursement, or fee sharing with any other entity. Our sole purpose is to do what's best for the dentist — that's who we are, and that will never change. If we recommend a professional or company, we will tell you why we recommend using them, and if we have a working relationship with them. You'll get straightforward honest answers — only the truth works for us.
We are not new to the dental industry — we have over 15 years of experience. Our combined 30-plus years of industry experience has taught us a lot. We doubt that we'll see anything that we haven't experienced and managed before.
We will pre-screen potential buyers for you. We will help select the buyers that best fit your profile of the ideal buyer (personality, skills, background, etc.). We want, as do you, to find the best fit for your practice so that you feel good about transitioning your practice to a person you are comfortable with in caring for your patients and taking care of your staff.