BUYING OR SELLING A DENTAL PRACTICE? GET THE EXPERT HELP YOU NEED HERE
Ready to buy a dental practice - or dispose of your existing business? You may need a specialist sales and acquisitions agent.
Buying or selling dental practice provides some unique challenges.
A dental practice may be a very personal business and clients may well choose them because of a rapport with the existing dentist.
There is also a limited number of people who can own or operate them which means that matching the right practice with the right new owner may be a challenge.
A commercial estate agent may be able to help you find a suitable property in your target area where you could set up a practice, but they might lack the expert knowledge to find a property that really matches your needs.
Their priority may be on moving a property off their books.
If you are looking for a suitable property or a business to buy, either as a first practice or as a branch, a sector specialist may be essential.
As well as maintaining lists of practices for sale in your region, agents can provide a range of additional services, such as surveys, valuations and reports.
Sales and acquisition agents can offer solutions for new entrants, support you in expanding the business by acquiring branches, and realising the maximum value for your investment when you come to sell.
A specialist may also be essential when you are ready to retire or move on, and want to sell your existing business
Sales and acquisitions agents working in the sector can provide those specialist skills. They will bring expert knowledge of business factors as well as an understanding of the property market.
The Rangewell Dental Services Directory
At Rangewell we have assembled a directory of support services your dental business can rely on - and made it free for you to use. So, if you need professional support, simply call us for details of the professionals who can help with expertise and services you need - and who cover your location:
- Sales and acquisition agents
- Equipment suppliers
- Legal Services
- Media services
Acquiring your practice
Finding the right location is important for your dental practice.
It is not simply a matter of buying a property. The success of your practice will depend on finding a location that is right for your patients - and right for your business in terms of size, location, condition and operating costs.
In the same way, it's never just a matter of buying an existing practice. Buying the wrong practice may expose your business to high costs, restriction on future growth and fail to generate the extra revenue you need.
Your agent should have a list of practices for sale, alert you when something suitable for your needs becomes available and be able to advise you with a candid view about the potential of each one. They may also be able to provide reports and projections to help you secure the funding you need.
If you are considering selling your dental practice, or considering an acquisition, it may be essential to get a clear view of its true value. This demands experience of the sector and the prices realised nearby, local knowledge and an awareness of current market conditions.
An experienced agent will be able to provide an authoritative valuation. An expert valuations and reports may be vital to satisfy banks and other funding sources.
Selling your dental business
When the time comes to pass on ownership of your dental practice, you could agree a private sale. However, you are more likely to maximise the price by offering it for sale through an agent who can ensure that it is professionally marketed.
Being able to call on expert support and help speed the process while minimising the costs involved in the process.
An experienced agent may already have a list of potential buyers ready and waiting. It could allow you to sell your practice faster, and maximise the returns.
Finding the specialist sales agents you need
At Rangewell, we work with dental practices across the UK. We help them secure the finance they need at every stage including property acquisition and business launch, everyday operations and growth.
This means that we also come into regular contact with the professionals providing advice and support to the sector.
If you are thinking about buying or selling a practice, call us on 020 3318 2613. We will be happy to introduce you to an agent in your region with the skills and expertise you need to take your business plans forward.
Sales and Acquisition agent? Join the Rangewell Dental Services Directory
Are you a Sales and Acquisition agent working in the dental sector? Please contact us to discuss being included in our care home database. There is no charge for professionals who wish to be included.
Call us now on our dental support line 020 3318 2613.
Download Rangewell’s free and detailed guide to Business Lending for Dentists
What type of commercial loans are available with practice financing?
What kinds of dental finance are there - including personal goodwill loans, practice financing, hire purchase, leasing, tax efficient borrowing solutions, credit lines and fixed rate equipment finance - from specialist lenders to give you peace of mind on loan products for any purpose.
How can Dental Finance benefit my dental practice?
How can they provide extra funds for you - without reducing funds available for your business?
Why you must find the right lender to cut costs
Is it important to use lenders that are authorised and regulated by the financial conduct authority for business loans?
The downsides of borrowing
What finance options are available for the dental industry for pieces of equipment - can I own equipment outright or is it or is it highly recommended to head down the route of leasing your equipment?
Do Asset Finance solutions incude dental equipment leasing?
What paperwork will you need?
Can terms be as long as 25 years for financing my practice premises?
Can I apply for finance to help with practice cash flow?
Guarantees and security
Is is better to use finance brokers when looking for practice finance?
Key Terms to check
An additional commitmentBorrowing may be a long-term commitment, with ongoing monthly repayments which will affect your cashflow.
You may need to repayIf you sell your business, you may need to repay your borrowing.
Borrowing may be a personal liabilityLending will be secured on your practice, but you may be personally responsible for repayment with some types of loan.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.