Consulting Services for Buyer and Seller

Seller Consulting Services for Transitions

Many times, a seller may already have a potential buyer in mind for the transition. Whether it’s an existing associate already in your practice or a contact in your network, NDP offers consulting services to established dentists on how to transition your practice. Sellers typically engage NDP when the buyer has been identified but can occur sooner.

Our Seller Consulting Services often include:

  • Direction on associate contracts for the new doctor; salary, non-compete, and benefits;
  • Communication guidelines; setting real expectations for the associateship, partnership or sale;
  • Recommendations and documentation from attorneys who specialize in contracts for dental practices;
  • Valuation of the dental practice or update to an old valuation;
  • Lease transfer or sale of the building;
  • Guidance on how to transition the business from bringing in an associate, to having an equity partner, to selling the practice outright;
  • Educating the established doctor about the transition process prior to finding an associate;
  • Comparing different scenarios to see which type of transition sale makes the most sense.

Contact us to set up a complimentary coaching call on how to effectively transition your practice.

Buyer Review and Consulting Services

Just as each practice is unique, so is each buyer and buyer consulting engagement. The level of advice and guidance someone will need that has owned their practice or is expanding may be less than someone who is newly graduated with little business experience or who is buying their first practice. Regardless of your situation, NDP can provide the level of detailed consulting/coaching you need and provide a review of important legal documents to adequately advise you during this process.

NDP offers both advice and guidance for buyers who need someone to represent their interest in the purchase. In order to assess the opportunity, NDP will need the following information prior to our call:

  • Valuation of the practice (if available);
  • Last two completed years of business tax returns for the practice;
  • Most recent year end profit and loss statement for the practice;
  • Current year to date profit loss statement for the practice;
  • Building or lease information;
  • Detailed description of the transition plan (according to the broker/seller);
  • Estimated improvements the practice may need; and
  • Summary of the buyer’s financial situation.

NDP will then provide you a complimentary, one hour review/discussion based on our review of the information above. Once we determine the practice will meet your expectations, we will discuss, big picture, how to move forward with the transition whether that be a Letter of Intent (LOI) or signing an associate agreement that later leads to the practice acquisition or partnership.

Areas in which NDP can provide experienced advice include:

  • Collections and overhead;
  • Financial review and explanation of the practice valuation;
  • Examination of practice tax returns and financials to verify cash flow;
  • Practice procedures review to confirm you the buyer can do the dentistry;
  • How lease and building considerations can impact the sale;
  • When the established doctor works in the practice after the sale and how that effects cash flow;
  • Assistance with lending and shopping multiple vendors for the best rates and refinancing opportunities on existing debt;
  • Assessment of practice growth potential based on location, procedures and marketing.

Together with the combined expertise of Cain, Watters & Associates, PLLC, we have more than two decades of experience with practice transitions. We know how to guide the buyer through one of the most significant financial decisions they will make as a dentist… Contact us today to learn more about how we can assist you on your path to ownership!