DID YOU KNOW: Up until 2020, there will be an average of 9% more retiring dentists than new graduates? There may not be a better time than now to at least explore your options.
United Dental Brokers of America is a national dental broker specializing in the sale of dental practices. We distinguish ourselves with an aggressive, proactive and targeted marketing approach. By using our vast database of geographically dispersed dentists, our frequent, targeted marketing campaigns will put your business needs in front of more dentists, more frequently, than any other brokerage firm. That focus and energy yields extraordinary results.
United Dental Brokers of America approach for Sellers:
We will obtain a clear understanding of what you are looking to achieve. At a time convenient to you, we can assess your needs and achieve a clear understanding of where you have been and where you would like to go next. We listen and will develop a framework of how to achieve the next step whether it is a sale, partnership, merger or transition. Note: there is no upfront fee for having us meet with you and help determine your options.
We will spend all the time we need to answer any and all of your questions about the transition process. Your questions may include some of the questions we often receive, such as:
- When should I sell my practice?
- How far ahead should I start to prepare for a sale?
- What to do in anticipation of a sale?
- How long will it take to sell my practice?
- Will I have to finance the sale?
- What will happen to my employees?
- How long will I have to stay on after a sale?
- What is my practice worth?
- What can I do to increase the value of my practice?
We will gather the information we need to expertly determine the worth of your practice in the open market. Keep in mind, we do not determine what the value of your practice is, the current market does. It is simple economics (supply and demand). You may have built a first-rate, very profitable operation in a remote area. However, if there are no buyers looking to purchase a practice in that given area (demand), this ultimately will affect the value and length of time it will take to sell your practice.
We begin by obtaining detailed information about your practice. A formal business profile is compiled which will be shared with qualified buyers. (Note: Any prospective buyer must sign a Confidentiality Agreement with us in wherein they agree to maintain confidentiality about the practice in which they are receiving information).
We distinguish ourselves with an aggressive, proactive and targeted marketing approach. Some brokers may list a practice and merely place it on their website in hopes that it will sell. We market the practice in a variety of ways including letters, emails, telephone calls, business ads, journal listings, knocking on doors, websites, online marketing, twitter, etc. It is important to note that practices are all marketed in a confidential manner. We remain vague with our description. For example, we may send a letter to prospective buyers announcing a new listing using an indistinguishable heading such as “General Dental practice in Allegheny County with collections of $1.2 million”.
We are in touch with buyers throughout the United States and across all specialties. We continue to have buyers contact us on a daily basis letting us know where and what type of practice they want to purchase. We also proactively market to potential buyers throughout the country to find the right fit for our listings. As an example, the buyer for our San Antonio Periodontal practice was not in the San Antonio area or even Texas for that matter. We located this buyer in St. Louis, Missouri.
The logical next step once a potential buyer has signed a Confidentiality Agreement, is to review the prospectus. If they express an interest in continuing to gain more information about the practice and the seller, we arrange for a meeting. Having a potential buyer come to your office and meet you is always coordinated by UDBA and with the best time(s) that you are able to meet. Customarily, the potential buyer discreetly sees the practice during off-hours so as not to interact with patients and employees at this time.
We help buyers obtain financing for their purchase. We put them in contact with several banks that we know specialize in the financing of dental practices. Our goal is to make sure you receive 100% cash at closing.
We help you along the way. We will work with attorneys and accountants on both sides of the table to ensure the documentation phase goes as seamlessly as possible.
First and foremost confidentiality throughout this process is essential. In most instances, the seller does not want their employees or patients to know they are looking to sell. The buyer, quite often, does not want his employer to know he is looking to leave. We understand these nuances and go out of our way to keep matters vague and discreet until it is necessary to release additional information.
If you own the building, we can package the building along with the practice and sell them both together. Additionally, over the years, we have worked with some exceptional accountants, attorneys, and investment advisors. If you are in need of any legal, tax or investment advice, we can direct you to one of these experts who will also assist you through this process.