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MediEstates - Benefits of Having Regular Dental Practice Valuations
Benefits of Having Regular Dental Practice Valuations

Benefits of Having Regular Dental Practice Valuations

 


A dental practice valuation is like your annual health check-up. It allows you to undertake a thorough, multi-faceted appraisal of your entire business enabling you to establish a benchmark against which you can measure your performance and business growth year on year.

 

So how much is your dental practice worth? We’re sure it’s a substantial amount, but every practice is unique, which is why a tailored valuation may be necessary. Here are some benefits of regularly valuing your dental practice.

 


Identify Areas For Improvement

By understanding how your practice performs against key benchmarks, you can set realistic goals and targets, as well as develop strategies to achieve them. It allows you to plan your financial future with confidence.

 


Understand How You Can Increase Your Profits

Valuations can help you determine if your dental practice is worth as much as you think. If you are looking to sell your practice, it is important to analyse profitability as this is the key component driving your value. Where profit is high you may be able to sell sooner than planned! Or where your profit is lower than expected you can clearly map out a strategy to increase profitability over time.

 


Invest In and Enhance Your Brand

Deciding whether to reinvest profits in your business is not always easy. Regular valuations can be used to guide the decision-making process when it comes to investing, whether that be through purchasing equipment, adding a surgery or engaging in strategic marketing activity to enhance your brand.

 


Prepare For The Future

A valuation can help you develop a strong plan of action 5 to 10 years before you even think to sell or retire. This plays a key role in wealth planning and it can make the difference between selling your practice and having it become unsaleable. In doing so, you will protect the equity in your practice for your family, should the unexpected happen.

 


The Bottom Line

An up-to-date annual business valuation helps dentists know where they stand so they can make informed decisions that affect the future of their business. The bottom line is that business valuations are an important part of any practice’s financial planning strategy. They can help partners make more informed decisions about their business and its future, whether that is selling the practice or passing it on to the next generation.

 

For more information about dental practice valuations or if you’d like to know how to go about selling your practice, please get in touch for a free consultation.

 

Posted by: Matt Bennett on

General Buyer Terms 

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 2018. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
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