Our Thoughts about Clients and Buyers
It is very clear as to whom we serve. Our client is the seller. That said, buyers are extremely important to our work as dental practice consultants and brokers.
Although we realize no fees from buyers, we work closely with buyers, so they will investigate our clients’ practices. We are buyer-friendly! When a good match occurs, it’s a win-win proposition!
We recommend that both sellers and buyers read this entire page. It will help you better understand our role and how it affects our relationship with both parties.
Our Role with Sellers (Clients)
When you become our client, you can look to us as your confidant and trusted ally in this journey. We offer you services and support you will never get if you try to sell your practice on your own. The depth and quality of that far exceeds what you’ll get with brokers who lack the expertise and experience we’ve gained over the years along with those who take an assembly line approach to their activities.
One of our primary functions is to fully understand your practice. We’ll devote considerable time to a wide variety of details, including your financials and Delta Premier if you are a provider. Our goal in this process is to build a solid case for your practice and represent its true strengths and financials in a way that attracts the right kind of buyers.
This may entail discussions with your accountant and careful review of your general ledgers. Don’t fool yourself. Parties who subscribe to a quick rule-of-thumb that a practice is worth a certain percentage of the gross collections simply do not understand the nuances in establishing value. Understanding the real profits is one of the most critical elements in any valuation.
Our service goes beyond building a good listing package. We also prepare you for this unique journey. You will learn what to expect and how to handle it. For example, you’ll learn that you don’t have to sell to any party you earnestly feel is not suited for your practice.
We’ll help you determine what you should be looking for in a successor. We know that the success of any sale lies with the right successor. So, we want you—as seller—to make an informed decision.
Knowing that this is our mutual objective, and with you being properly educated about your role in the process, you will be ready to enter the marketplace. You won’t feel vulnerable, since you’ll be dealing from a position of strength, knowledge and confidence.
Finally, you and your practice will receive the attention and care that you deserve. We endeavor to maintain your sale discreetly from your staff and the community. You will meet with interested buyers shortly after engaging our services. Your practice will never become just another listing, since we fully practice that warranty stated in our listing agreement to “use diligence in procuring a willing and able purchaser.”
The financial information will always be updated so that it’s current. And we will enhance interest in your practice by emphasizing those features which will create appeal in your opportunity. With this practiced approach we are able to create the most positive impression of your practice for today’s discriminating buyers.
Ready to move forward? Register to Sell Your Dental Practice >>
How We Work with Buyers
We work closely with buyers so they will investigate our clients’ practices. Upon inquiring, a buyer who is investigating a PPS listing will receive all the necessary data in a timely manner. This helps them make a quick and informed decision about whether they wish to submit an offer on one of our listed practices.
It is important that buyers be properly represented by an advisor who can assist them in their independent review and evaluation of a listed practice. If a buyer does not have this representation, we will make referrals to appropriate parties.
We also provide assistance when requested to put buyers in touch with knowledgeable lenders regarding the needed financing to acquire a practice. Our position in the industry helps us keep abreast of the terms and rates used by lenders specializing in this financing niche.
It is important that our clients understand that PPS does not allow a buyer to pursue our listings blind. Instead, we provide much-needed direction to buyers along with ensuring that they have the opportunity for independent counsel. An informed and educated prospect becomes a well-equipped and properly prepared buyer. All sellers should strive to have such a buyer,
“It has been 27 years since you called me at noon on a Friday in 1990. You outlined you had a great opportunity in Marin and these did not come up often. We spoke at length. I responded that I was tired of being misled and deceived by brokers “upselling” their listings.
I stated I was skeptical of your assessment and income potential. But, as a result of your enthusiasm, I met with the dentist. When we later talked after my meeting, you told me that that this practice would allow me to make a good living, acquire a home and enjoy a nice life in one of the best family areas around. My response was that you were “BS-ing me!”
I have promised you over many years walking by your booth at the CDA Conventions that I owe you a testimonial. Here it is. I operate a fantastic practice, I purchased a home a year after acquiring the practice and I live and work in San Rafael. You were very modest in your assessment of this practice. I thank you from the bottom of my heart.”
—Richard Creaghe, DDS, San Rafael