A dental practice valuation or appraisal gives you an up to date picture of what your practice is worth in the current market and can help you set an asking price when you are ready to sell your practice. But there are other reasons for needing an up-to-date appraisal for your practice as well. You should always have an up-to-date appraisal in the event of the dentist’s untimely death or disability to accompany a letter of instructions to protect the family. A Henry Schein dental practice valuation will be accepted by most lenders for financing applications. It’s also needed for an Associate or partner buy-in and for many other reasons. But it’s only a respected and valued tool if it’s accurate.
Not all dental practice appraisals are the same and often you get what you pay for. That’s why it’s important to know how the dental practice appraisal will be done and the expertise and experts behind the work.
When a dental practice valuation is prepared by Henry Schein Professional Practice Transitions’ team of top dental practice transitions consultants, you know you will get a realistic assessment and one that will be useful when needed, not just what you want to hear. While a free appraisal or one offering an extremely high value may sound nice, it won’t necessarily help you sell your practice or optimize the amount you earn in the sale. A comprehensive valuation of your dental practice is critical in order for you to have a true assessment of the current market value of your practice.
It is often said that an accurate dental practice valuation is part science and part art, because there is no single, magic formula for reaching the right conclusion. That’s certainly true when it comes to dental practice valuations. That’s why Henry Schein relies on multiple approaches to be sure that our assessment is accurate. It’s also why it’s smart to turn to the most experienced consultants in the dental profession—the experts on the team at Henry Schein Professional Practice Transitions, a subsidiary of Henry Schein, Inc.
Thousands of Dental Practice Appraisals
With experience in all 50 states, our consultants have performed thousands of valuations for dental practices all over the country. Our consultants have worked with dental professionals in major cities, suburbs, small towns and rural communities in a wide range of circumstances including:
- Practice Sales
- Practice Acquisitions
- Associate Buy-ins
- Partnerships and Co-ownerships
- Letters of instruction
Thoughtful, Deliberate, Accurate Appraisals
We use our proven, five-step appraisal process that includes:
- Proprietary Questionnaire – We first ask you to complete our detailed proprietary questionnaire. This is the major data gathering step of the process and includes financial and dental practice management software reports as well as ‘fill-in-the-blank” questions.
- Comprehensive Analysis – Our team then reviews each question and document provided to assemble the vital information that feeds the overall assessment of your practice.
- Performance Evaluation – We carefully examine several year’s financial information from your dental practice’s operation and prepare a cash flow analysis in order to evaluate the stability and strength of the practice.
- Multiple valuation methods – We utilize several valuation methods, including reviewing comparative sales in the vicinity of your practice, to accurately determine the value of your dental practice, rather than relying on just one.
- Detailed Valuation Report – The end result of the valuation process is a comprehensive 30+-page narrative that leaves no stone unturned. Page after page highlights key financials of your dental practice along with results, analysis, and conclusions we derived from the various valuation methods.
When you are thinking of selling, whether you have a single practice or multiple locations, our experienced Henry Schein Professional Practice Transitions consultants will help you maximize the value of your practice prior to listing a location and work with you every step of the way to achieve your goals.
It’s never too soon to get great advice!
Whether you’re ready to sell your practice or just beginning to investigate your transition options, call today, 1-800-988-5674, or contact us online to schedule a free 30-minute consultation with an experienced consultant at Henry Schein Professional Practice Transitions. Get answers and invaluable advice about achieving your goal of selling your dental practice. We look forward to talking to you!