It often starts innocently enough, with someone expressing unsolicited interest in buying the business. The owner of the practice usually feels flattered by the attention, curious about what their practice is worth, and sometimes relieved, as they had been unsure how to exit plan. The conversation and courtship progresses and, before long, the seller is neck-deep in a one-on-one negotiation. No broker, no other buyers, no competitive bidding, no expert advice. Just one buyer, one conversation, and one path forward.
As experienced dental practice brokers in Australia, my team and I are always amazed at the misconceptions that some dentists have about the process of buying and selling a practice. In this series of articles, we thought we would address some of the more commonly heard and persistent misconceptions that practice buyers have:
When your practice has been stable, or on a growth trajectory for the past few years, it’s easy to start believing that it will always be like this. That tomorrow will always be the same as today and next year will be like this year. It is easy to start believing that the strength of your practice, and its valuation if put to market, is secure into the future.
PSS recently expanded its team by adding a new National Account Manager, Simon Moore. Before joining PSS, Simon worked for 15 years in medical/dental finance for some of the leading dental finance companies
You have asked around and you know how much it would cost to build your practice from scratch.
As two of the most experienced dental brokers in Australia, we remain amazed at the persistence of the scaremongering that occurs surrounding the experience of selling to large dental corporates/aggregators. In this article, we thought we would address some of the more commonly heard arguments against selling to dental corporates/aggregators.
