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MediEstates - Beyond Selling: The Benefits of Regular Business Valuations
Beyond Selling: The Benefits of Regular Business Valuations

Beyond Selling: The Benefits of Regular Business Valuations for Dental Practice Owner

 

Valuations have numerous applications beyond just helping sellers of businesses. Whether you're investing in a hedge fund, an ISA, or a dental practice, monitoring its value is essential. In this article, we will discuss the importance of regular valuations for dental practice owners, their applications, and the benefits of having accurate, up-to-date valuations.

 

The Importance of Regular Valuations

 

Whatever the investment, it's unlikely that you would leave it unmonitored for several years without even thinking to check if its value had increased. Similarly, regular valuations for dental practices can be beneficial in several ways, such as:

 

• Assisting with exit planning, even if the exit is years away

 

• Providing an understanding of the changes needed to increase profits in the latter stages of a dental practice owner's career

 

• Using benchmarking to assess the efficiency of the practice and highlight areas for improvement

 

• Giving comfort and confidence that the ultimate value of a practice will meet your needs and wants in retirement

 

• Helping small groups to transition and acquire other practices, which protects the whole business

 

 

Applications of Valuations

 

In addition to the above benefits, annual valuations provide accurate data to assist you when taking out and renewing insurance policies. For example:

 

• Protecting against the loss of key employees due to illness, accident, or death

 

• Providing an immediate lump sum to protect the next of kin and the business from financial turmoil

 

• Ensuring that the precise level of insurance needed to protect the business is determined

 

 

The Benefits of Accurate, Up-to-date Valuations

 

Having accurate and up-to-date valuations for dental practices offers several benefits, including:

 

• Peace of mind that your business can continue to operate both financially and operationally should the unexpected ever happen

 

• Keeping on track when agreeing insurance premiums

 

• Helping you plan the future of your business with confidence

 

 

Conclusion

 

In conclusion, regular valuations are essential for dental practice owners. Valuations can assist with exit planning, increasing profits, and provide comfort and confidence that the ultimate value of a practice meets the owner's needs in retirement. Furthermore, annual valuations are valuable for insurance purposes, protecting against the loss of key employees due to illness, accident, or death. Lastly, having accurate and up-to-date valuations provides peace of mind, helps keep track of insurance premiums, and allows dental practice owners to plan their business's future with confidence.

 

Why not contact our team today and see how we can help with a free, no-obligation valuation?

 

Posted by: Alison Bates 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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