CATEGORY 86 AUSTRALASIAN DENTIST COMPANY PROFILE everything you’re aiming for in life.” “I always tell sellers: engage a broker! Access to buyers vetted by an experienced broker should increase your chance of success by around 90%. You want the best possible outcome first time around. Watching a principle after a deal has fallen over is really sad to see – they’re tired, and disappointed, and have to start the whole process again.” Dental Acquisitions is one of several specialist dental business brokers out there. The business offers dedicated, close contact support, planning, evaluation, networking, introductions, and manages the entire sales journey, from first inklings, through the intricacies of forensic accounting, lawyers, banks, tax impacts, transition, incentives, negotiations all the way up to signatures on contract. “Trust is massive,” he says. “Every dentist, when they get to this place, is going to find that out straight away.” He focuses exclusively on dental practices, those valued at around $1million and above, and with thousands of case studies, and more than 400 successful sales across Australia, has a few things to say about making selling your practice work for you. “First,” he says. “The most important thing, beyond all the obvious logistics, is to never lose sight of the real goal.” What is the real goal? “The 100% focus is the life you’ve worked for. That’s what this is really about. Selling your practice is about setting yourself up for everything you’ve worked to enjoy, family, freedom, lifestyle. If you keep that crystal clear, find a broker who keeps that vision alive, navigates you through the process with that always top of mind, then whatever happens, you never lose sight of the real aim.” “There will be weekend phone calls. There will be after hours debriefs. I’m very used to that,” he laughs. “Zoom calls after hours: 100%. It’s a very close role.” Second, he says: get help early. “If you’re looking to sell in the next 5 to 10 years, we can help you get the maximum value for your business, and your life’s work.” If you’re closer to it than that, Ian says a 6 to 12 month preparation window is vital for skilled help maximizing the profitability of your asset, gaining efficiencies, preparing for market with expert, inside hands-on diplomacy, refinement of costs, leakages, structures which can dramatically increase your profit margins, and desirability to good, fair buyers. “There’s a lot online, and I’m sharing pointers too, but having somebody inside the process, inside the forensics, who has awareness of where to look, what the competition is like, and knows the remedies for structures and spending that are quietly killing your profit is a massive advantage,” he says. “Valuing countless thousands of dental practices, I can see pretty quickly where any bleeding is going on: wages and staffing, marketing and management. Nobody cares more about the details of all that in dental practice values than me.” His third tip for principles going it alone, or using other brokers is simple: avoid the wrong buyers. “Entertaining 20 buyers, versus 5 excellent introductions to serious, experienced ones is the difference between a happy ending for everyone, and drowning.” “There are good buyers, and buyers who overpromise, under-deliver and are often inexperienced. Beware of buyers who tell you whatever it takes to get the deal, they are often the ones who can pull you under. There’s no way really, to measure the value of quality, discrete, introductions and experienced concierge.” u www.profdent.com.au Dental X-Ray Storage Pockets Store all bitewing and periapical films Pen & pencil write on central strip Complete protective storage Films easily viewed Readily accessible Pockets separate by hand
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