=
MediEstates - Take the leap! From Associate to Practice Owner
Take the leap! From Associate to Practice Owner

Take the leap! From Associate to Practice Owner

 

As the Owner of a dental practice, you hold the reins of your future, giving you greater clinical and professional freedom and securing control over your retirement. Acquiring a practice is a significant commitment, and by keeping your motivations at the forefront of your mind, you can steer your practice towards achieving these goals.

 

Though each Practice Owner may possess unique incentives, several common advantages make the prospect of purchasing a practice exhilarating. Let's explore them:

 

Empowerment in Decision-Making:

 

Owning your practice means being your own boss, granting you the authority to shape every aspect of your business. Free from the burdens of "office politics," you can create an environment aligned with your vision, choosing colleagues you resonate with, and crafting a schedule that suits you. Moreover, you become responsible for your patients' well-being.

 

 

Increased Earnings:

 

As an obvious but significant benefit, Practice Owners earn more than Associates. While money may not be the sole motivator for a dedicated dental professional, investing in your practice can lead to continuous growth of wealth. By efficiently managing patient flow and delegating tasks, you can maximise your earning potential without shouldering all the work yourself. Furthermore, owning both a business and a property becomes an appreciating asset over your career.

 

 

Affordable Practice Opportunities:

 

Finding your ideal practice may require exploring different locations beyond your current residence. Urban practices tend to come with higher price tags than those in quieter rural areas. By being flexible about location, you may find better value for money and achieve the lifestyle you've always aspired to.

 

 

Accessible Funding:

 

Securing financing for practice acquisition is more feasible than you might think. Working with a specialist broker can help you explore various loan options and negotiate deals that align with your budget.

 

 

Conclusion:

 

Purchasing a practice should be viewed as an opportunity for success rather than a risk. It provides the chance to become a thriving business owner and reap the financial rewards you deserve. However, keep in mind that your skills must extend beyond dentistry alone. Being prepared to handle tasks such as CQC compliance, health & safety, marketing, and other operational aspects of running a dental practice is crucial for sustainable success.

 

With a realistic approach and careful planning, you can build a prosperous and fulfilling career that lasts for decades to come.

 

Why not contact our team today to see what practices are on sale?

 

 

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.
Your shortlist contents will be included in this contact submission