Expert Dental Accountants for Your Practice - Henry Schein Dental Practice Sales
Why Do You Need a Specialist Dental Accountant?
Every industry has its own unique complexities, and the dental sector is no exception. When it comes to managing your practice's accounts, having an experienced accountant who understands the intricacies of the dental business is crucial. At Henry Schein Dental Practice Sales, formerly MediEstates, we provide you details for expert dental accountants who can efficiently handle your financial needs.
The Benefits of a Specialist Dental Accountant
Accounting goes beyond mere numbers; it involves understanding how your dental business operates on a day-to-day basis. With specialist dental accountants, you receive tailored business advice and support, ensuring that your financial strategies align with your practice's goals.
Avoid Costly Pitfalls - Get Professional Support Today!
The consequences of not having a specialist dental accountant can be costly. Consider these scenarios:
A dentist buying a mixed practice faced VAT and NHS Pension Scheme issues due to improper structuring.
An NHS Associate incorporated without being informed about its impact on their pension.
An accountant's failure to adjust taxable profit led to paying both a clawback and an inflated tax bill in the same year.
A dentist wanting to form a partnership was unaware of the GDC registration requirement, causing legal complications.
Don't let these pitfalls hinder your practice's success. Trust Henry Schein Dental Practice Sales for professional support in finding the right dental accountant for your business.
Looking to sell your practice to an associate? Get in touch today.
Frequently Asked Questions
Find answers to our most frequently asked questions from our clients.
How long will it take to sell my dental practice?
The length of time can vary depending on the practice type and buyer type. Typically a practice sale completes within 4-10 months. For a more detailed discussion about your own circumstances please contact us.
When is the right time to sell my dental practice?
This very much depends on your lifestyle goals and your timeline for exiting the business. In some transactions, the buyer may ask you to work on for 1-5 years and so it is important to plan ahead and ensure you start the sale process early enough to match your proposed timeline. It’s also vital to think about which type of dental buyer you want to sell the business to, as this may impact upon your planned exit date.
What are the current dental market trends?
Dental practices continue to be appealing purchases for both independent and corporate buyers with the banks and private equity investors keen to lend within the sector. As the market is fluid it is best to reach out to us for a valuation. Each practice is unique and our regional Business Development Managers will be able to advise you on the current market trends that will impact your particular practice and when the best time is to sell.
What do buyers look for in a dental practice purchase?
A dental buyer will want to see growth potential within a dental practice and the available chair-capacity or expansion space to capitalise on this. Stability is really important post sale, so a buyer will benefit from a steady in-flow of patients and a stable clinical and support team. Having an appealing physical environment is also important to attract buyer interest.
What documentation will I have to prepare to sell my dental practice?
The due diligence process is often the biggest time commitment for sellers. We have an in-house due-diligence specialist who will support you through the sale and can provide you with a checklist early on the in the process so you can start to prepare the required documentation.
