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Sep 24 2021 - Simon Palmer And Dr Nauv Kashyap - Buyer: buying
Over the years, Practice Sale Search has noticed a distinct difference in the levels of interest that buyers have in different socio-economic areas.
Aug 9 2021 - Seller: post-sale stories
"No matter how much you plan and think through the outcome of
decisions, there is always the chance of the unexpected coming along and
changing everything – and you have to be adaptable to the change if this
Aug 5 2021 - Simon Palmer - Buyer: buying
Last year, we had a practice for sale in a good suburban area of Brisbane. The principal dentist/vendor was in his mid-60s and had been practicing in the same spot for 30 years. The practice’s aesthetic was very functional but needed some reinvestment (both inside and out – let’s say $50k); it was in a great position on a busy street, surrounded by busy retail businesses. The principal was willing to contractually commit to working part time post sale and had a solid history of producing approx. $750k p.a., working 4 days per week (no extended hours), offering limited clinical choices with average fee levels, no website and $0 spent on advertising.
Jul 14 2021 - Simon Palmer - Seller : preparation Valuation
A practice or real estate sale is usually a high-stakes transaction involving hundreds of thousands, or millions, of dollars changing hands. Quite often, the buyer and seller will base the price paid for a practice on an appraisal or valuation that has been done by an accountant.
Jun 8 2021 - Seller: post-sale stories
"The business of dentistry has proven to be extremely resilient in the face of maximum uncertainty, a place the public sees as worthy of their discretionary money. For that reason, practitioners are recognising that a dental clinic is a fantastic business to own."
Jun 1 2021 - Simon Palmer - Buyer: buying Buyer: preparation Podcasts
It was great to be interviewed by Dental Head Start about how to find and succeed in your first practice. We spoke about the common pitfalls that buyers and new owners can find themselves in and how to avoid them.
May 22 2021 - Simon Palmer - Seller: process of selling
When a practice owner is looking to sell their practice, they will often put off telling their staff about the sale for as long as possible. There are many reasons for this. Sometimes (often) they won’t want to tell the staff at all until after a deal has been locked in with a buyer.
Apr 26 2021 - Seller: post-sale stories
"I wanted to structure my business so that I had some free time and could get away. Somehow, I convinced myself that the way to get this free time was to grow the practice, but every time I grew the practice, I had bigger overheads that needed to be covered and the business of dentistry relied on me more than before."
Apr 19 2021 - Simon Palmer - Buyer: buying
Once a dentist has decided that they want to be their own boss and own a dental practice, the next question that they face is “should I buy an existing practice or set one up from scratch?”
Mar 25 2021 - Simon Palmer - Seller : preparation Seller : timing/ retirement
In October 2019, a bottle of The Macallan Fine and Rare whisky sold at auction for $US1.9 million, becoming the most expensive bottle of wine or spirit ever auctioned. This whisky was bottled in 1986, after maturing for six decades in European Oak at Macallan's distillery near the River Spey in Scotland. The cask this bottle was from has produced six record-setting bottles, beginning in 1986 when the first one was sold in New York and won the Guinness World Record at the time for "The World's Most Expensive Spirit".