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MediEstates - Sell Your Dental Practice: Securing Retirement Amidst Financial Concerns
Sell Your Dental Practice: Securing Retirement Amidst Financial Concerns

Sell Your Dental Practice: Securing Retirement Amidst Financial Concerns

 

In an era of economic uncertainty and rising operational costs, dental practice owners are faced with the daunting task of ensuring the longevity and financial stability of their businesses. However, focusing on year-to-year survival can take its toll, diverting attention from personal goals such as planning for retirement. Selling your dental practice at the right time offers an opportunity to secure your financial future and alleviate the worries associated with the ever-changing business landscape.

 

 

Increasing energy costs and interest rates:

Owning and managing a dental practice requires significant dedication, effort, and financial investment. Over the last 12 months, increasing financial burdens both industry-specific and within the wider economy have impacted profit margins and threatened the growth and sustainability of dental businesses. According to a recent study* , 42% of dentists have expressed that energy costs have had the most significant impact on their financial situation. As energy prices rise, dental practices are experiencing mounting expenses for utilities, equipment, and maintenance. This is against a backdrop of rising recruitment costs within the sector.

 

The study also revealed that a staggering 82% of dentists feel that interest rates have had an impact on their business. When interest rates rise, borrowing becomes more expensive, making it difficult for dental practices to secure loans or access capital for expansion, equipment upgrades, or other essential investments*. 

 

 

Financial Security and Retirement Planning:

Selling your dental practice at an optimal time allows you to reap the rewards of your hard work and channel the proceeds toward securing your retirement.

 

By divesting yourself of the day-to-day responsibilities of running a practice, you can focus on managing your assets, exploring investment opportunities, and ensuring a comfortable retirement for yourself and your family.

 

 

Conclusion:

Selling your dental practice at the right time not only enables you to escape the stress of unprecedented financial concerns, but also empowers you to plan for retirement with confidence and peace of mind. By securing your financial future, you can focus on personal fulfilment and enjoy the lifestyle flexibility that retirement brings. Take advantage of the opportunity to sell your dental practice and embark on a new chapter of your life, knowing that you have made a strategic decision to prioritise your goals over the uncertainties of running a business in a rapidly changing environment.

 

 

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

 

*Expert view from the Dental sector | Braemar Finance

 

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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