Why Dentists Should Use Palladium Business Brokers to Sell Their Practice

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Expertise  

We have intricate knowledge of dental clinics, how they operate and how to assess their financial performance. We can advise and guide you from appraising the business through to a successful sale process and a smooth post-settlement transition. 

Dr Philip Baker one of our brokers is a retired dentist with over 25 years’ experience in owning, running, selling, and buying dental clinics.  

Our brokers are fully qualified real estate agents and business brokers. Sellers should demand this high level of experience and expertise that Palladium Business Brokers provide.  

Experience  

We have been involved in and overseen the sale of many large dental clinics. Dr baker as a retired dentist has been a buyer and seller of numerous large successful dental clinics and as such has hands-on experience with an extensive understanding of the process and what’s required.  

Results  

We have been involved in business sales transactions of over 60 million dollars.  

Strategy

We formulate a strategy and plan tailored to your individual circumstances…each practice is different, and each seller may have different goals and desires. Dr Philip Baker can help to quickly assess these and help organise plans and strategies to help clinicians realise their goals whether retiring, relocating or just a change of circumstances.  

Licensed  

We are licenced by the business licensing authority in Victoria. We are also a licenced real estate agency and our brokers and as such are regulated and fully insured. Mr Eddie Letico has been a licenced real estate agent for nearly 20 years  

Professional

We act with integrity and honesty. Dr Philip Baker is still a member of the Australian Dental Association and is also a member of the Australian Institute of Business Brokers. Palladium Business Brokers are also members of the REIV. We will always treat our clients with a professional approach. Palladium Business Brokers offers a special rate for ADA members.  

Networks of buyers  

We have large networks of registered buyers which can result in a smooth and prompt process of finding a buyer that’s suitable for a specific practice for sale. 

Guidance 

We explain and discuss all aspects of the business sale process plus we have extensive experience in liaising with dentists and other associated interested parties such as lawyers’ financiers and accountants.  

Honesty and integrity 

As mentioned, we are members of professional organisations and will treat all clients with courtesy, honesty, and integrity. We also pride ourselves on our exceptional customer service. And we will always call you back!  

Objectivity 

Not only is it likely that the sale of your business will be one of the biggest sales you’ll ever make, but it is also very likely that it will be one of the most emotional. Dentists as business owners intimately understand their business and the knowledge of the hard work to operate and build the practice, however, this can sometimes create limitations, blocks, and unnecessary complications in the dental business sale. 

Palladium Business Brokers are a third party who has your back as well as a vested interest in the successful sale of your business. Our clarity and objectivity during the sale could mean the difference between a sale, and a sale beyond your wildest expectation. 

Due diligence overseeing  

Our Brokers know which documents are most relevant for due diligence, and Palladium Business brokers can help you gather and organize important documents. Requests for additional information can be frustrating, and you can hand off that task to us as your broker. We are highly efficient at liaising with suitably qualified accountants and financiers.  

Appraisal ability  

We offer a full free no no-obligation appraisal of your clinic. We assess your financials and your actual practice and provide an appraisal on the practice’s likely sale price in our opinion. This will include tangible and other intangible assets.  

Closing a successful sale  

The broker can help to negotiate the final price on your behalf, and in conjunction with legal professionals can help guide and advise in relation to regulations, permits, and licenses that impact the sale. 

Palladium Business brokers can help create a closing and transition checklist, which will help the buyer close a successful transaction. Palladium Business brokers can guide the seller on best practices, and what to expect during the closing. 

Time management  

We allow the clinician to focus on practicing and running their clinic while we work hard in the background to source and match buyers that may be suitable for your clinic.  

This in turn will save money for the practitioner by allowing a Business Broker to take the wheel, it allows you to focus on your day-to-day in the meantime. You can trust that we will do our job to the best of our ability, giving you back the vital time needed to continue yours and saving money as time away from the practice can be substantial loss of revenue.  

Confidentiality and discreetness.  

We always operate under a mantra of confidentiality. All our qualified buyers have signed binding confidentiality clauses which ensure the integrity of the process and allow the sellers peace of mind. We also take people’s privacy very seriously and abide by the Privacy Act 

Buyer Qualification 

Our buyers have been qualified in terms of their requirements, suitability, experience and their financial resources. This allows for an increased likelihood of successfully matching a buyer with a seller which isn’t always financially related.  

Profit 

Although we charge a commission, the combination of all these listed points mentioned here can lead you to a more accurate and higher appraisal than you probably first thought and therefore in some cases a higher sale price. 

In some cases, Palladium Business Brokers may be able to recommend different structures or pathways to sell your business that you didn’t realise were available. This is where a broker’s expertise becomes vital. 

To embark on a dental business sale without the advice and support of an experienced business broker could cost you far more in the final sale price and cause significant emotional stress. 

Help with post-settlement employment contracts and subcontractors.  

Our broker has worked as a principal dentist and as a locum and subcontractor and understands what’s required to help understand and prepare solid employment agreements that can be a win-win situation for both seller and buyer alike.  

Property matters  

Palladium Business Brokers are fully licenced real estate agents and buyer’s advocates. We can sell any healthcare/dental freehold property and also can source offices, and rooms for sale that fit a purchaser’s needs in terms of location, space and price. We can also help and advise on leases with all healthcare commercial property. 

Finance contacts and connections

We have excellent connections with bankers and finance companies who can assist purchasers and sellers with any questions on financing.  

Selective representation

We focus exclusively on dental and medical practices within Melbourne and Victoria. This allows us to specialise in local areas and not to dilute ourselves too much, especially in regard to us having premier client engagement services  

Written by

Dr Philip Baker

As a former healthcare professional of 28 years, Dr Philip Baker is now a registered Sales Agents Representative and Business broker. Philip has been involved in numerous sales and purchases of large successful dental clinics. Philip is a Licensed Agents Representative and a member of the REIV and is also a member of the Australian Dental Association (35 years), Australian Institute of Business Brokers. Phil’s extensive experience and knowledge, along with his professional manner will help his clients achieve their ultimate aims and help achieve successful sales and purchases for their health care businesses.

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