Trust is everything – Dental EliteFeatured Products Promotional Features
Posted by: Dental Design 19th October 2019
When it comes to running a dental practice, trust is everything. Most importantly, patients must trust the dental team in order to follow the oral health advice provided. The principal also needs to trust members of staff to do their jobs to the best of their ability. Staff need to trust that their working environment with be maintained. The whole team trusts suppliers and selected service providers to deliver the products required.
When it comes to selling a practice, trust is once again key. But this time, it is more directed towards the potential buyer and the broker. The initial stages of a transaction often involve checking that an interested buyer is serious, whether they have access to sufficient funds and what their intentions for the business are in the future. Once a vendor believes all these elements are in place and trusts the buyer to see the transaction to the end, the sale can proceed.
But how do you know which broker to trust? Seeking the reviews and recommendations from other professionals who have been in similar positions can be a huge help. That way, you know what the service provided is really like and decide who would be a best match for your individual situation.
At Dental Elite, we are committed to offering the highest standard of services to support a variety of different practice sales and encourage their success. We help professionals optimise their businesses ready for sale and then our expert team will guide you through the transaction from start to finish. Our aim is to make everything as simple as possible, with one main point of contact managing the entire process.
However, we don’t just want you to take our word for it. So, we asked Mr Gerrit Snyman about his experience of working with Dental Elite during the sale of his dental practice.
Which consultant in Dental Elite did you work with?
I worked with Luke Moore, who was in regular contact with me and kept me up-to-date with proceedings at all times.
What was your biggest fear prior to marketing the practice for sale?
I was most concerned about finding a suitable buyer and an agent I could trust. I overcame both of these with Dental Elite.
What made you choose the offer you accepted?
The discussion I had with Luke about the offers I received ultimately led to my decision to accept, which I did within a few days of receiving it.
Have you stayed on in the practice and was this your choice?
Yes I have remained at the practice as I wished to – the sale has enabled me to re-focus on my patients and the dentistry I provide, without the distractions of running the business.
How did you find the due diligence process?
This was challenging due to some planning issues that we faced.
When did you tell the staff?
I told the staff nearly straight away, as I do not like lying to them and so this meant that everyone was prepared. Everyone was kept in the loop throughout the transaction and given the chance to ask questions at any time.
On reflection, what was the most challenging time in your sale?
The most challenging time was discussing indemnities regarding fire safety issues – Luke was extremely helpful in this matter.
How did you find the agent buffer between solicitors, buyer and seller?
The agent buffer was exceptional. I would therefore recommend Dental Elite to any other dentists looking to sell their practices.
Finding the right expert support can make a big difference to the efficiency and success of a dental practice sale. With so many aspects involved, it’s crucial that you work with people you trust to get the job done and get it done right. If you’re considering the sale of your practice, give the friendly team at Dental Elite a call to see how we could help.
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