Selling your dental practice?
Although lockdowns are now over, dentists are still subject to a significantly higher level of regulation than ever before – from the requirements for more stringent hygiene protocols to restrictions on the number of patients that can be seen on a daily basis. Such regulations are likely to continue for the foreseeable future. The company MediEstates outlines some reasons why selling your practice now may be a good idea for some dentists.
One of the main reasons why now could be a good time to sell your dental practice is because goodwill values are at an all-time high, according to MediEstates. This increased demand for private, mixed and NHS (Northern Ireland) practices is due to demand exceeding supply.
Another reason, according to MediEstates, is that market multiples being paid for dental practices have never been higher. The company believes that at the moment, it is a seller’s market and the longer you wait, market conditions could change and reduce your potential selling price.
MediEstates states that over the past year, more buyers have registered to acquire dental practices than ever. According to the company, demand is significantly higher than supply in most areas, and sellers looking to exit their practice for more flexibility or retirement can take advantage of this heightened interest and maximise their selling price.
According to the company, if you are having a good year in revenue terms, it will translate into a good valuation. MediEstates states that sellers who can demonstrate a pattern of growth and increasing revenues are typically rewarded with a higher valuation. If your revenue is not at its peak, but is growing steadily and in line with what other similar dental practices are achieving, the company states there should be no worry about any impact on value or saleability.