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Oct 26 2020 - Seller: post-sale stories
"We wanted to concentrate more on what we like most, to mentor and pass our combined 35-year experience and knowledge on to the younger generations. The practice is our baby and, although we have handed it over, we are still nurturing it."
Oct 12 2020 - Simon Palmer - Seller : preparation Seller : timing/ retirement
When a dentist practice owner is in the last 10 years of their career, the decision of when to sell looms over them. Selling now or selling later can have a big impact on how the practice owner can fund their retirement.
Sep 15 2020 - Simon Palmer - Seller: process of selling
Despite the best of intentions, even once the framework of a practice sale is agreed, it is often still very hard to predict the exact date that a deal will settle. Even with the buyer and seller doing all that they can to prioritise and expedite the deal, a transaction can be at the mercy of the availability and circumstances of many other people’s lives, including:
Aug 11 2020 - Simon Palmer - Buyer: buying Buyer: preparation
There is a famous Brothers Grimm story about a princess who found her prince by kissing a frog. From this story, the saying "you have to kiss a lot of frogs to find a prince" has come into common use, as a way of saying that the pursuit of any prize may take multiple attempts.
Aug 11 2020 - Seller: post-sale stories
The devastating bushfires that took place over last summer have become a distant memory for many people, as have the courage and sacrifices of the Volunteer Firefighters. We interviewed Dr Richard Warren a few months ago, one of our dentist vendors from 2019, for our “Life After” series and found that he is one of the volunteers who spent much of the fire season on call and in the field, working tirelessly to save homes, businesses and wildlife. We owe volunteers like Richard a lot!
Aug 10 2020 - Simon Palmer, Harry Nicolaidis Chloe Foyster - Buyer: post-sale Legal process
Dental practice sales involve large sums of money changing hands. Hundreds of thousands (if not millions) of dollars being paid in compensation for goodwill.
Apr 8 2020 - Seller: post-sale stories
As Australia combats COVID-19, there is a lot of uncertainty about what the future holds. The current situation is essentially unprecedented in human history. While there are some “chicken littles” out there, running around saying that the “sky is falling” and hoarding enough toilet paper to satisfy a small country, most people believe that the outbreak of COVID-19 will run its course within a few months. When it does, there will be many dentists who will be worried about the impact the economic shutdown will have had on the value of their practice, particularly if they are at a stage in life where selling is typically the next step. While no one has a crystal ball here, there...
Mar 26 2020 - Seller: post-sale stories
As Australia and New Zealand combats COVID-19, there is a lot of uncertainty about what the future will hold. There will be many of you who are concerned about what the impact of this will be on one of your most valuable assets - your practice. Rest assured that your practice is still valuable.