Is it too late to sell your practice?

17 April 2020

Is age catching up with you?
Can government restrictions really stop you from going to work over a certain age?
Is now too late to sell?

No, no and no would be my answers - but things are hard to call at the moment.

Hopefully, COVID-19 will be a once in a lifetime experience for us all, but it certainly has created challenges for everyone. As Dentists, your business is being currently stressed with ongoing costs without the usual revenue streams.

During this hibernation you may have completed some options to keep your business functioning:

By viewing https://covid19.govt.nz/businesses-and-employees/
Applying for the COVID-19 Wage Subsidy to support your business and provide for your staff
Talking with any lessor about a temporary reduction in the rent
Talking with your bank and financers to reduce repayment and interest payments
Talking with your accountant or business adviser to review new tax and depreciation initiatives.

If you need help, LANZ have established a new service utilising an
experienced business advisory professional.

Lindsay, my father, has considerable experience assisting dentists
with their business planning, including how to plan for retirement
- while getting the best price for your practice.

Lindsay Dey

027 437 0977

lindsay.dey@impactconsulting.co.nz

If you're still looking to sell - is now the time to review your plans for the future of your practice?
I've previously said that in an ideal world, you need to be planning your retirement date up to 5 or 10 years before it happens. However, COVID-19 may be bringing this to a head.

The LANZ team are all safely working from home during the lockdown and are available to assist by email or phone. Talk to our team about your plans and how we can help:

Tony Dey 021 866 985   tony@lanzrecruitment.com for experienced dentist advice

Lindsay Dey 027 437 0977  lindsay.dey@impactconsulting.co.nz for experienced business advice

Bruce McCormick 021 777 499 practicesales@lanzrecruitment.com for advice about selling your practice

Toni Marr 03 951 3176   admin@lanzrecruitment.com for experienced staff to fill your vacancies

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