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T2P 0L4. Selling your dental practice is a serious matter. Al Heaps and Henry Doyle provided me with their expert, professional assistance throughout the entire process. Vancouver, BC Because of this, owners usually prefer to use the LCGE. You’ll never have trouble selling a practice that already has a great system in place, has a great team, is profitable, has great technology. A Dental Practice Seller’s Checklist Use this checklist to help you start the process of selling a dental practice. 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. Selling a dental practice. Regardless of why you’re buying, selling, or transitioning a dental practice, the end goal is the same: You want the best deal possible. Owning a dental practice is an attractive alternative to the stock market, or putting money into term deposits. I was seeking a large, successful store front practice in downtown Vancouver. Here are four key considerations that you as a dental practice owner should be thinking about as you begin to mull a sale of your business: 1. One single event does not typically lead to … As an entrepreneurial firm, we truly believe there are no limits to where your career can go. Dental Practice Brokerage Team. The experts at USDT have 20+ years of experience guiding dentists through the complexities of selling their practices. When I decided to re-evaluate and list my practice, your statement of the practice worth seemed right to me. One of the most overlooked part of the Dental Practice Sales process is the sales negotiation. Louis Laskovski is highly experienced in buying and selling of dental practices. With proper planning and competent professional guidance, the experience can be pleasant, seamless and, most importantly, rewarding. Dentists considering the sale of a practice in today's marketplace have two new groups to consider as potential "buyers." Today, it’s more likely someone planning to buy a dental practice will need to put down a deposit. Getting the best professional advice at the outset can go a long way to ensuring that you make the right decisions for you, your practice, your employees and your patients. The moment you begin to consider a practice sale is the moment you … When selling a dental practice, there are a lot of things to consider and details to manage. There are many legal issues to consider. Get your free consultation. We are known for our honesty, integrity, and superior value. Tax implications of selling a Dental Practice in Ontario – Sale of shares vs. sale of assets. Selling a dental practice takes time. We do this in a variety of ways including ensuring that your practice address and personal details are not disclosed on any marketing material. Steps towards selling your dental practice. Selling your Dental Practice in Ontario. I would recommend Al Heaps & Associates to any dentist thinking of appraising or selling their dental practice. Before you think about selling your dental practice, there are a host of essential points to be considered. Click here to create one © 2018 Al Heaps & Associates Inc. All Rights Reserved. Exceptional Legal Guidance Through Buying Or Selling A Dental Practice. I highly recommend them to any dentist looking to purchase a practice. We’ve thought of … There is a widely-held belief in the dental industry that confidentiality is essential when a dentist decides to sell their practice. EVERYTHING! Here are seven things you need to know. Selling your dental practice is a complex process that involves far more than finding a buyer and closing the deal. Be Ready to Transition – Determine the Goals and Transition Plan. There are many legal issues to consider. Prices have been climbing over the last decade, typically doubling in comparison to a decade ago. Before buying or selling a dental practice, great care and planning should be taken to consider the tax consequences regarding the allocation of the sale price to the various assets involved in the transaction. National advertising of practice listings, Preparing business plans for prospective purchasers, Assisting with tax and financial analyses, Preparation of legal and financial documentation, We provide a professional, confidential service, National and international exposure with local knowledge, Negotiating win-win associate and partnership agreements, Analyzing and solving conflicts in existing partnership/associate relationships, Communications strategies to transfer patient loyalties to a new dentist or increase the patient base. Learn about our process. Contact us today at 855-337-4337. Next, let’s take a look at the two most common ways you can sell your business. The more complicated and complex the transaction is, the harder the sale will be. If you are considering selling your dental practice, talking with PARAGON is a wise and informative first step. (417) 425-0992; Menu Menu; Important Factors When Selling a Dental Practice December 18, 2020 / 0 Comments / in Selling a Dental Practice / by admin. But, what if a practice has an above average amount of overhead? If a dental practice for sale has $1m in collections and 60% overhead (which is about average for a dental practice), its EBITDA is $400,000. This will enable you to make informed decisions about the nature of the sale transaction and help avoid costly problems later. In general, we are finding the market to be very … Every contact between buyer, seller and broker, from initial discussion to closing, is an opportunity to lay the groundwork for future negotiations. ddsmatch Four States serves both dentists who want to buy and dentists who want to sell a practice in the Kansas, Western Missouri, Arkansas, and Oklahoma areas. First things first, data is king when selling your practice. Selling your Dental Practice in Ontario. 107th Ave. Sale of shares; Sale of assets; Sale of shares. click here. We are known for our honesty, integrity, and superior value. Our advice is to make sure you consider the following seven key factors when taking the first steps towards selling: Always get an independent valuation; Choose a dental broker who has experience This is because there simply is not enough supply in terms of dental practices available for sale, for the number of people who want to buy. Henry Doyle 604-724-1964 Gross Revenue: $1,466,169. A calculation of value is an important and often required element of dental practice transitions. Selling a Dental Practice: PART 1. Regardless of why you’re buying, selling, or transitioning a dental practice, the end goal is the same: You want the best deal possible. Do you want to learn more about our services? We provide extensive marketing strategies with maximum exposure. Historically, purchasing a dental practice was 100 per cent financed. is a partner in The Greenberg, Dresevic, Iwrey, Kalmowitz & Pendleton Law Group. We've helped hundreds of dentists sell their practices to DSO's, other dentists, and everything in between. Calgary, AB When contracts are in place for everyone, it strengthens the value of your dental practice. The percentage utilized is determined from information on sales and analysis of other dental practices sold in the state and region during recent years. Selling a dental practice can take some time and part of our role is to preserve confidentiality until the deal is well progressed and then help manage the introduction of the buyer to your team. Keep it simple! al@heapsanddoyle.com, George Osterbauer 416-312-6166 These are but a few of the considerations involved in selling your dental practice. Professional Practice Sales has been serving the dental profession in Ontario and Western Canada for over 25 years. First, a key thing to keep in mind is that prior to the COVID-19 pandemic, existing supply and demand forces had already driven practice values to unprecedented heights. and Alberta and throughout much of Ontario. As knowledgeable professionals we value your practice, in confidence, show you how you can get the maximum return on your investment and then take you through the steps of marketing the practice. Be cautious with business brokers! Selling a dental practice can be a daunting task at the best of times, and many owners may not be aware of the relevant considerations when preparing for and carrying out such a sale. Before buying or selling a dental practice, great care and planning should be taken to consider thetax consequences regarding the allocation of the sale price to the various assets involved in the transaction. Today I’ll be writing about some important things to consider before you buy or sell a dental practice. On average, a well-run dental practice can make an approximately 20 per cent profit margin; and banks will lend money to dentists at prime, which is currently below three per cent. Taking the Legal Pain Out of Buying and Selling a Dental Practice Buying and selling dental practices means paperwork, including letters of intent, contracts, valuations, and a whole ream of other documents. ruth@heapsanddoyle.com, Al Heaps & Associates Inc. were very helpful in assisting me to find and purchase my new dental practice. Usdt have 20+ years of effort, skill and patient relationships currently, sale! Expertise and resources create an impressive success rate at HK dental transitions, we believe. Generally a seller ’ s no obligation, just an extremely worthwhile education practice address and personal details are disclosed... Banks may become more conservative and tighten their lending practices and take you your! Enter into a ‘ bidding war ’, take a view from feet! Range of 50 % to 80 % of the practice, talking with PARAGON is a task... Replace, if necessary prices for dental practices practice transitions the transition process smooth and enjoyable prefer use! 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