What We Do

 

Practice Sales

There are many steps involved in preparing a dental practice for sale and the sales process. The most important step in a successful strong>sale and transition is advance planning. A year or two before you plan to transition out of the practice is the ideal time to contact a transition specialist. This time allows issues to be addressed in advance and ensures that your practice is more marketable and more valuable when it is placed on the market. It is our goal to identify a financially, professionally and personally compatible purchaser for your specialty practice.

It is said that there are two big mistakes a doctor can make when it is time to sell their practice. The first one is to try and sell the practice themselves; most of the time valuing it well above what is fair and marketable. The second mistake is to sell your practice too late. This results in a less marketable and less valuable practice. As production declines, future practice value is lost. Both of these errors result in effort without the anticipated results. Avoid these mistakes by hiring a qualified broker to assist you in the transition process.

The negotiative brokering style provides the greatest protection for each party yet is very effective in bringing the parties together in friendly win-win sales. We require that each party utilize their own personal representation - attorney and accountant - to review each step of the process and recommend any modifications. We can recommend counsel and accountants to parties who do not have a current relationship, but in each case the counsel is retained by and solely responsible to their client, be it the seller or the purchaser.

Take the time to find and work with a Transition Specialist to reap the greatest rewards for your efforts.

Marketing Your Practice

When marketing your practice to potential buyers, our style is comfortable and non-confrontational. There is no pressure or hype. We simply explain the facts and figures to clients so that they can make the most well informed decision in their own best interest.

Practices listed by Phase II Associates are advertised in specialty trade journals and in the listings pages of the Phase II Associates website. Clients and prospects may be referred to us by word of mouth; others are contacted at conventions or through contacts initiated by Phase II Associates.

Unlike general practice brokers that are local or regional in scope, Phase II Associates has a nationwide presence which allows us to reach a significantly larger pool of potential practice buyers. This increased, nation-wide exposure, along with our personal network of interested buyers is an enormous advantage to our clients.

Financing

In most cases, the seller of the practice is paid in cash in full at closing. Phase II Associates puts together complete loan application packages for purchasers to apply to specialized lenders who know the dental practice acquisition business. These lenders are familiar with our approach and can quickly approve and fund practice transactions. The time saved in quick funding allows purchasers to start earning income much sooner, thus adding to their opportunity income.

Practice Appraisals

The economic model used by Phase II Associates is also licensed by other leading practice transition specialists and even lenders who specialize in dental practice acquisition financing. The model is simple in concept. We compute how much a purchaser can afford to pay for a given practice after making a successful net income and paying the practice overhead expenses. The objective is to calculate how much a purchaser can afford to pay and be successful. This resultant figure is then compared to other practices that have sold and we compare the practice price/gross ratios to see that the subject practice is also within market comparable price ranges. This methodology has been accepted by accountants, lenders, and juries as being a rational, reproducible, and precise measure of price and value.

Buyer Services

For specialists seeking to purchase a practice and interested in working with a Buyer Representative, Phase II Associates offers you guidance and resources in evaluating and purchasing a practice.

Associateships

In a specialty practice, bringing on an associate at the right time can be a valuable addition to your practice. When it is set up as a step toward a time defined buy-out, it helps to maintain the referral sources and value of the practice at the time of transition. Our specialty practice transitions team can help you choose an associate that is right for you.

Partnerships

Many group specialty practices are set up as partnerships. When looking to bring in a new partner for buy-in/buy-out, Phase II Associates will assist in locating a qualified partner for the practice. While the numbers must be a win-win, the skills and personality of the incoming doctor are just as important to the success and long-term survival of the partnership.

Exit Planning

“We live in a moment of history where change is so speeded up that we begin to see the present only when it is already disappearing.”
R. D. Laing
We often hear our colleagues refer to a “new normal” with regard to specialty dental practice.  It seems that changes and challenges to the traditional specialty practice model are occurring at an ever increasing pace.  Significant challenges also exist to our traditional beliefs regarding retirement from specialty practice.  No longer can we assume that our years of specialty practice will guarantee a comfortable retirement.  Some of these challenges include economic downturns, loss of value in our retirement accounts, decreasing practice revenues and the corresponding loss of practice value, as well as significant increases in life expectancy.   The “new normal” with regard to retirement has shaken our belief that a comfortable retirement is our inalienable right.  We can no longer be complacent by assuming that retirement will just happen.  In fact it is not happening at an alarming rate. Read More

The Practice Protection Plan

For Solo Practitioners

The death of a family member is perhaps the most painful experience anyone can endure…..

This is particularly true when a dental specialist dies.  The unfortunate reality is that with the passing of a solo dental specialist, the timeliness of the practice sale is crucial in maintaining the practice value. Consider the following unique aspects of solo specialty practices. Read More


 

 

 

Call today to speak with a Phase II Associates broker! We serve dental specialists across the United States with practice sales, appraisal/valuation, buyer representation, and associate and partnership agreements. Rely on experience to make the professional transitions in your life a shining success.