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Schambeau Dental Care, P.C.
Distance: 2.5 Mi6260 Park South Dr Ste 101
35022 Bessemer -
Cahaba Dental Arts
Distance: 4.0 Mi100 Brook Dr Ste A
35080 Helena -
Helena Family Dentistry
Distance: 5.3 Mi1001 Ashley Brook Ln
35080 Helena -
Vestavia Family Dentistry
Distance: 6.4 Mi2816 Columbiana Rd
35216-2518 Birmingham -
Thomas A. Dudney, DMD PC
Distance: 7.6 MiShelby Medical Dental Art Building, 122 - 7th Avenue, NE
35007 Alabaster
Description
The expectation of value for assets should relate to condition, age, technological obsolescence, universality of use by most Dentists. Turnkey practices have reasonable equipment which should be expected to be available in most practices. Excessive value of equipment may limit the availability of goodwill especially if the billings relating to the equipment are limited. Seldom is it beneficial to replace older equipment just prior to selling your practice. The best you can expect is to recoup your cost and even that may be optimistic.
David Lind, Broker of Record, has been in the Dental Industry for over 25 years, 17 years with CIT Financial Ltd. focusing on the Healthcare market. During that time, he developed a strong understanding of the personal and professional needs of Dentists, particularly as they enter and exit the profession. This knowledge has prepared him well for the challenges and opportunities that lie ahead with PPS.
If your practice has a value of over $150,000, most banks and financial institutions want some assurance that a qualified appraiser has valued the practice as a basis of lending funds to the purchaser (generally speaking 100% financing) to enable the purchaser to buy your practice. Generally the Vendor does not want to be "a bank" and lend the funds to the purchaser, because funds are available to qualified purchasers.
We can provide objective advice to help you reach your goals. PPS has extensive experience in developing workable solutions, negotiating and preparing the required documentation for partnerships, cost share partners, associateships and more.
It makes sense to surround yourself with experts. You will ideally have an accountant and a lawyer who routinely deal with Dentists and the buying and selling of practices. Your accountant should be brought into the picture early to advise you on the tax implications of selling your practice. The net value of your practice is based on the net after tax position of the sale, not the gross value achieved. PPS works with many qualified and experienced lawyers and accountants that we can refer you to.