Taking heed of (the right) advice
Paul Graham, Associate Director, explains the importance of enlisting a specialist adviser when it comes to selling. Paul has over a decade of experience in the business sales market and works out of Christie & Co’s Edinburgh and Glasgow offices covering dental practice sales across Scotland.
You would be correct in believing that the Scottish market is strong right now, but buyers – and importantly their independent advisers/surveyors – are still sensitive to values.I often put myself in the position of a principal looking to sell and completely understand why so many are confused about what their practice is potentially worth.
It never ceases to amaze me how much inconsistent and inaccurate advice gets circulated amongst practice owners who are considering a sale. From practices being undervalued and sold because a sales agent claims that ‘the buyer pays the sales fee’, to recently seeing agents adopt the ‘English’ methodology to valuing a practice in Scotland and therefore placing a totally unachievable figure on what should be a very sellable practice. Even more frustratingly, I see many examples where a local accountant has ‘spread’ the word around a few contacts that are active in the market place – this is not how to conduct a sale!
For practice owners who are considering selling, it is imperative that ample time is allocated well in advance of your planned exit date and then enlisting the services of a trusted dental sales specialist.
Christie & Co is the only national firm undertaking formal, accredited RICS valuations as well as selling dental practices, so we have a unique insight into prices that are actually achieved. We provide confidential, simple and accurate advice for you – the seller, in order to take the hassle out of your practice sale.
If you’re visiting the Scottish Dental Show at Braehead Arena on the 13th or 14th May, and would like to discuss any of the above issues or just have a general chat about the market then please feel free to visit the Christie & Co stand at B04 in the Main Hall.
