The state of the market – practice ownership
Despite the ongoing challenges of the pandemic, we continue to see many practice sale/acquisitions taking place and the demand for practice ownership in Scotland arguably has never been higher.
The economic impact of high demand and limited supply appears to be maintaining goodwill values at pre pandemic levels and in many cases are exchanging at significantly higher value. We have assisted with five completions this month alone and have many others in the pipeline.
What is clearly evident is that the ‘savvy buyer/seller’ is always at an advantage. Given that the purchase or sale might be a once in a lifetime transaction it is critical that it goes smoothly and generates the best financial outcome.
As the only accountant focussed 100% on the Scottish dental market, we have worked with many specialist providers in these transactions and working as a team we continue to achieve very positive outcomes for our mutual client(s). It is important to select the right team of advisers alongside you.
That will typically include your specialist Accountant, Bank, Valuer, Lawyer, Software supplier, IFA and their colleagues. Conversely, we have seen some ill-advised/supported buyers and sellers who unfortunately have experienced high level of stress and lost value by selecting the wrong adviser.
This can often include seeing corners cut or a lack of specialist knowledge making the transaction more complex than it should ever be. Don’t let yourself get into that position and always build the strongest team possible around you where you can.
Given our vast experience in buying/selling of practices we are very well placed to help you to choose your ‘dream team’ and will gladly provide you with free advice if buying or selling a practice forms part of your current thinking. Happy to provide some free bespoke initial advice on valuation or structure to make sure you give yourself the best possible outcome.
Do get in touch for a free consultation.
Victoria Forbes / Director, Dental Accountants Scotland / victoria@dentalaccountantsscotland.co.uk
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