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MediEstates - 5 Indications That It's Time to Sell Your Dental Practice
5 Indications That It's Time to Sell Your Dental Practice

5 Indications That It's Time to Sell Your Dental Practice!

 

Have you been contemplating the sale of your dental practice?

 

Various factors may prompt dental practice owners to consider selling, ranging from a desire for more family time to the wish to relieve the stress associated with managing a dental practice. Regardless of your motivations, here are some signs suggesting that you're ready to sell your dental practice. If any of these resonate with you, it might be the opportune moment to explore your options.

 

1. Seeking more Family Time 

 

Running a dental practice demands significant time and continuous attention. If you find that the demands of the business are hindering your ability to spend quality time with your loved ones, selling could be a fitting choice.

 

2. Wanting Relief from Business Stress

 

In addition to the time commitment, managing a dental practice can be highly stressful, especially with the pressure to meet NHS targets annually. If you're experiencing burnout or feeling overwhelmed, it may be an indication that you're ready to sell your dental practice and shift your focus to something that brings you joy and fulfilment.

 

3. Desire to Transition to Consulting/ Knowledge Sharing

 

Another prevalent reason for selling a dental practice is the aspiration to pass on your expertise and knowledge to others in the dental field. Whether you aim to become a dental business consultant or simply share your insights with those entering the dental industry, selling your dental practice can serve as a valuable step to assist others and forge a new path in your career.

 

4. Passionate about Volunteering or Donating Time Elsewhere

 

If you have a passion for giving back to your community, selling your dental practice can be an excellent means of allocating your time and resources. Whether you intend to volunteer at a local non-profit organisation or provide dental services through donations, the proceeds from selling your dental practice can enable you to make a meaningful impact in your community.

 

5. Prioritising Health and Wellbeing

 

Owning a dental practice can have a significant impact on your personal life and physical health. If you're ready to make substantial changes in these areas, it might be time to contemplate an exit strategy. Whether you're seeking more time for physical activities or to explore new places, deciding to sell your dental practice can be a strategic move to prioritise your well-being and realise your dreams.

 

Summary

 

If any of these signs resonate with you, it's worth considering the sale of your dental practice and planning for the next phase of your life. The initial step involves obtaining an up-to-date valuation of your dental practice to understand its current market value. Armed with this information and a clear comprehension of your goals, you can confidently make the best decision for yourself and your business.

 

Why not reach out to us today to schedule a practice valuation? Contact our team today.

 

 

Posted by: Emma Harrison on

General Buyer Terms 

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 2018. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
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