Right Time, Right Place, Right Buyer: Scottish Dental

Scottish Dental-Aug21-Dental Elite-Article Right Tim Right Place Right Buyer

Right time, right place, right buyer

The decision to sell a dental practice can be a difficult one. There are many different factors at play that can have an influence on the individuals and the business(es) involved. Even if you feel like you’re not quite ready to take the leap, it’s still important – and often highly beneficial – to be aware of all your options. This will help you prepare yourself, your team and your practice for what might happen in the future, whether that’s in 3 months or 3 years.

This was the situation that Dr John McGregor found himself in when tentatively approaching the sale of four dental practices he owned with his business partner in Glasgow. He comments:

“Initially, I was not completely sold on the idea of selling my practices, but my business partner thought we should test the water and see what possible outcomes there could be for the business.

“While still sceptical we had a meeting with Ted Johnston from Dental Elite and he explained the possible deals available at the time, which I thought would be unachievable as they really seemed too high. He reassured me that the figures were current and could at quite possibly be higher. He was actually right.

“Ted then arranged for several prospective buyers to come and view the businesses and what really impressed me was that Ted was always there – quite often at unsociable hours. He made sure the viewings were very discrete and he had a good rapport with the buyers and sellers too. This rapport made things a lot easier and just helped to smooth the negotiations.

“His advice and knowledge throughout the process really was excellent. He kept us well updated on when we were to receive an offer and what the situation was with the buyers. He got us the best deal.”

Despite his initial reservations about selling, Dr McGregor has been delighted with the end result achieved. He has been able to minimise his daily pressures and get back to doing what he loves – which is one of the main reasons that many principals look to sell in today’s world. He adds:

“Since the purchase of our practices, I feel now a weight has been lifted from my shoulders. I will carry on working as a dentist in my practice providing the treatment I like, but now there are no worries about the future.

“We really did get an excellent deal in the end with all the outcomes that we were looking for. I can thoroughly recommend contacting Ted and Dental Elite if you are considering selling your practice, but I would also recommend contacting him if you are not.”

If you have thought about selling your dental practice(s) but you’re not sure if it’s the right solution for you, there’s no harm in seeking advice or exploring your options. You may decide to come back to it in few more years, or you might just find the right time, right place and right buyer for you.

“My experience using the service has been exceptional. I would rate the service 5 out of 5 Ted Johnston was the person dealing with the sale. He was committed, supportive and gave, what I felt was 150% to get the practice sold. I cannot speak too highly of him. I would definitely use the service again and most definitely recommend others to use Dental Elite.”

Dawn Pickering

“We were very happy with the service received from Dental Elite. I would rate the service we received as a 5 out of 5. Everyone I dealt with over the long process from start to finish was very helpful and friendly. Because it was a long process, we had several people helping us at various stages, all were fantastic. Without a doubt, I would use Dental Elite’s services again.”

Jacqui Setters

"From the very start Dental Elite was nothing but professional, friendly and efficient. Lottie, Nick, and the rest of the team have helped and supported us every single step of the way. Our sale proved to be challenging, however, we could always rely on the whole team to get us past the finish line. Thank you Dental Elite. You have been amazing!"

Lenka Wong

"Tommy was extremely helpful and knowledgeable throughout the entire finance application process. He guided us step by step, provided clear explanations, and ensured that we understood all our options. I highly recommend Tommy to anyone in need of financial assistance. Thank you, Tommy!"

Mahyar Bettany

“My experience working with Phil and Carl was very positive, they were both professional, helpful and knowledgeable. They gave me the ultimate confidence from the get-go, which is definitely what you need when you’ve got someone managing the sale. “I certainly would recommend Dental Elite's services to others – They were excellent!”

Michelle Bates

“I have tried to sell my practice before and never really liked how other brokers approached me as a client, but when I spoke with Julie Randle I had a gut feeling that she was the right person to sell my practice. Dental Elite found me the right buyer who would approach dentistry the way I do. Selling your practice can be a very stressful process and I absolutely relied on Julie, especially when there were major renegotiations. I can’t praise Dental Elite highly enough, right from initial valuation to doing viewings and through to completion they were absolutely excellent. I would heartily recommend Dental Elite to others.”

Mike Elrich

"Excellent service. Very efficient and great/prompt communication. I would highly recommend Luke Shelton!"

Rushin Patel

"We used the services of DE finance to buy a practice. Luke Shelton was very helpful. He knew the whole process, was very pro active, quick with communications to resolve things. He also got us the best market rate at very favourable terms which wasn't available in the open market. Thanks Luke"

Saleem Mulla

“We chose Dental Elite after we initially had the practice on sale with another agent who had overvalued the practice. I worked with Phil Kolodynski then Carl Wetton. They were both highly professional and helped guide us through the sales process.”

Stephen Potter