Did you reflect over your holidays about the future? You've been in the industry now for 30+ years and what does the future offer?
Looking back over the last decade LANZ has been reflecting that the time to sell a practice is 5-10 years before you wish to slow down or retire. Dentists have found it difficult to get good prices once they have already slowed down or they need to finish earlier than planned, due to ill health.
Why aren't they selling for good prices?
It's because turnover has already started to fall by the time you're thinking of selling. Also, the previous professional model of ownership was for a dentist to share facilities and run an independent practice. This type of practices is no longer desired, as investors are looking for company structures without the hassle of needing to put it together.
LANZ has recent experience in successfully selling four independent practices sharing the same facilities. This has been accomplished, as each of the dentists was willing to continue to work for a varying number of years under the new company structure.
This way each dentist is receiving the value for their past efforts upfront and continues to earn a similar income generally with less responsibilities.
The answer is to consider selling well before you need to. Get your money upfront and continue to work with your patients through the transition.
Is now the time to discuss YOUR future with LANZ? Contact Bruce today 021 77 499.
We have a number of very interested purchasers currently on our books, who are seriously looking at investing in practices.
If you're looking at potentially selling or would like a valuation done on your practice, then don't hesitate to contact us to have a no-obligation, confidential discussion.
Bruce McCormick, Practice Sales
Phone: +64 21 777 499
Do you need qualified dental staff?
LANZ Recruitment has Dentists, Specialists, Oral Health Therapists, Hygienists, Dental Assistants, Practice Managers and Receptionists available for full time, part time and locum roles.
If you need experienced staff for your practice, get in touch with Toni as we may already have candidates registered in your area.
Toni Marr, Recruitment
Phone: 03 477 8777 Email: firstname.lastname@example.org
Andy Tapper, ex Lumino The Dentists CEO has engaged LANZ.Dental to help him identify practice owners looking for a secure and predictable succession plan within his new national dental group.
After nearly 15 years at the helm of Lumino, Andy has recently left following its change in ownership. I caught up with him last week to see what his plans were.