Buying a Dental Practice
Welcome to
PFM Dental
Sales & Valuations
Investing in a dental practice is probably one of the biggest financial decisions that you will make. Most buyers retain the practice they purchase to retirement, so with your future income dependent on it, making the right decision is paramount.
PFM Dental has all the relevant experts under the one roof and therefore you can pick and choose which services you need.
Whether you are a first-time practice purchaser or an experienced buyer, having the right team alongside you is key to making sure the right opportunities don’t pass you by!
We Offer
Buyer’s Assessment/Valuation
We will diligently review the financial information and practice prospectus to ensure you can make the right decision. More >
Practice Finance
No fees to pay for finance brokering and 100% success rate – we ensure you get the best interest rates and lowest charges. More >
Accountancy
Whether you are assessing the profitability of a target dental practice or need a financial forecast for the banks, we can assist. More >
Legal
We have specialist dental solicitors with expertise in commercial law, property law and CQC processes. More >
Insurance
In addition to protecting your interests, most banks will insist on some ‘must have’ insurances when lending money to a purchaser. More >
Use Our Finance Calculator
FAQs
What should I consider when buying a practice?
Buying a dental practice (especially if it is your first purchase) can be daunting. The legal team at PFM Dental Legal are specialist dental solicitors in this area and can assist with every step of the process.
A more detailed guide to the key considerations to have in mind when buying a dental practice can be downloaded here.
However, we summarise some of the key considerations as follows:
1. Get your structure sorted as early as possible. Are you going to buy as a sole trader, in partnership with other people and, in either case, will you be using a limited company?
2. Will you be paying for the goodwill in “one go” at completion or are you considering paying a portion of the payment at a later point in time – perhaps contingent upon the seller remaining at the practice as an associate and subject to a fees target?
3. Budget carefully for the costs of the transaction itself. Clearly the price to be paid for the dental practice itself will occupy a buyer’s mind but do not underestimate the other fees and expenses involved.
4. Surround yourself with dental specialist advisers. Obviously, these should (ideally) be from the PFM Group and include dental specialist lawyers, accountants, valuers and financial advisers!
5. Thorough Due Diligence. The phrase “Buyer Beware” applies as much to dental practice purchases as to other commercial transactions.
6. Ensuring that the sale agreement contains adequate protection for you to include adequate warranties and indemnities and non-compete provisions from the seller.
7. Don’t underestimate the time it takes to complete the purchase.
How much can you support me?
As much or as little as you want. We can undertake a valuation assessment, arrange the finance, instruct our solicitors to undertake the legal work and accountancy for the correct setup and ongoing accountancy needs, or you can pick and choose where you haven’t got the expertise already in place.
Do I need a specialised accountant when purchasing or just when I’ve taken over?
An accountant should be instructed at outset of the purchase. The bank are likely to need specialist projections and you will also want to ensure that you are buying in the most tax efficient way. Your accountant would often review the financial aspects of the sale purchase agreement with the solicitor.
See what other dentists are saying
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