Australasian Dentist Magazine May June 2021

Category 44 Australasian Dentist company profile Ian Donnelley t : 1300 232 217 e : ian@dentalacquisitions.com.au w.dentalacquisitions.com.au SELLING dental practices on YOUR terms FREE EVALUATION Free Evaluation ad. 52 x 247mm.indd 1 14/4/21 6:15 pm T he dental industry continues to evolve and throughout Covid has shown itself to be incredibly resilient. We at Dental Acquisitions have been in the dental brokering business for over 10 years. No one is better placed than us to know how the market is trending and what the industry is going to look like in a post Covid world. We’re in a unique position as, despite the world’s current state, we continue to speak to countless dentists as well as accountants, lawyers, bankers and others who are all connected to the industry week in and week out. Speaking with principals, you become acutely aware that the information you are providing is highly valuable in giving dentists the solid understanding of the market but also the complexities involved in selling their business. With corporates, health funds, private equity and dentists all looking to buy practices, the options for principals has never been greater. When looking to sell you need to have an exit strategy. If you’re looking to retire or scale back in the next few years, now is the time to discuss your options. A principal is a product of their own success. By building your practice over time you have become the most important component of the business. For that reason if you’re looking to maximize your purchase price, buyers will ask for a certain level of commitment by you. Simply put the more prepared you are the higher the price and better the terms. In our experience, we have found that when we have spoken to client principals, they have had a very limited understanding around their options. Whether it’s about the value of their business, who the potential buyers might be, principals generally find our meetings and phone calls insightful. Typically, most are aware of the 2-3 corporates commonly known in the market but have little idea on what or how they should be negotiating. There are many different terms and clauses that you need to consider other than who is going to give you the most money! Having done this for over 10 years there isn’t a scenario we haven’t seen before. Dental Acquisitions has a huge database of dentists looking to purchase a practice. We also have an excellent relationship with the corporate buyers. One of the key points that separate’s Dental Acquisitions to our competitors It’s about options is that we do not advertise our practices. You won’t see any listings on our website or anywhere else on the internet. If they are dentists, they have been vetted and if they are groups/corporates they are repeat buyers who we have dealt with on many occasions. We find that our clients appreciate the confidentiality as most of the practices we sell are multiple chairs with multiple clinicians. In this market principals don’t want it known they’re selling. We advise our principals not to disclose they are selling until contracts are signed as it can only cause stress and anxiety for staff, clients – and therefore you! When selling it really comes down to what you want post settlement and us working together to achieve those goals. I pose to you these questions: Are you happy to continue in your current capacity but want more holidays? Perhaps you want more days off during the week? Do you love your dentistry but sick of the admin? Are you looking to get out entirely 6-12 months post settlement? Whatever it might be, by preparing and working together, we can support you to achieve all your goals. If you’re thinking now might be a good time to sell, wanting to know what options are available to you, how best to prepare your practice to sell or simply a dentist looking to buy a practice get in contact with us. u Dental Acquisitions T: 0402 049 974 E: ian@dentalacquisitions.com.au W: www.dentalacquisitions.com.au Ian Donnelley