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Dental Practices for Sale

Listed below are the most recent dental practices that we have listed for sale across the United Kingdom. We only introduce the best three prospective purchasers to any of our dental practice sellers to ensure an efficient, confidential and well-managed process for all involved.

Consequently, if the dental practices for sale listed may be of interest we strongly recommend you get in contact as soon as possible to avoid disappointment.

Selling your dental practices with Retiring Dentist

We are constantly listing new dental practices for sale all across the country. In addition to what you see on our website, we also have relationships with a large pool of retiring dentists that are not listed. These principals do have half an eye on exiting for purchasers representing good opportunities and we often work with them over the course of a few years to ensure their practice is saleable. Consequently, if you are unable to find a dental practice for sale that specifically matches what you are looking for, please book in for a confidential conversation with ourselves and we will share with you more information on off-market opportunities.

Our dental practice sellers are usually retiring principal dentists that are running successful clinics and are available to provide a strong transitionary clinical role over the course of a number of years. At Retiring Dentist we pride ourselves on only putting together acquisitions that work and last for our clients and therefore, we only work with genuine dental practice buyers that will look after both staff members and patients alike that are serious about moving forward.

As specialists in the dental sector, we will provide guidance throughout every part of the acquisitions process. Many of our dental purchasers benefit from our accurate and easy to understand expert valuations that support them in their decision making process as well as the tailored advice provided before and after every meeting with a dental practice seller. We also produce detailed Heads of Agreement, which in addition to our recommended panel of expert solicitors will save you thousands of pounds in legal expenses making buying a dental practice as easy and stress-free as possible.

Selling Your Dental Practice 8 Step Guide By Retiring-Dentist.co.uk

Are you contemplating retiring from dentistry? Considering who would be the best dental practice buyer for your clinic? Wondering about how to get a premium price when selling your dental practice? If you said yes to any of the questions, you will be contemplating the question "should I sell my dental practice now" and, "what is the process for selling my dental practice".

Below, we have outlined the 8-step guide on the different stages involved in every dental practice sale in the UK and will guide and support you through every step of the way.

1: What are my options with regards to selling a dental practice?

There are three main options available to a principal dentist that is considering a dental practice sale and ideally, you should know which route you want to go down years in advance.

Option 1 - Should I sell to my dental associates? Selling your dental practice to your associates can be a great option if you have the right people working for you. They know your business, patients and will retain the culture, employees and modus operandi. Often, there is more flexibility too, given the level of trust built up over the years. However, there are three critical errors made when selling to your dental associates that every principal dentist must consider... Book in to speak with me ( (Kimberley Hagues) directly and I will talk you through them with no obligation.

Option 2 - Should I engage a dental broker/ dental agent? The obvious disadvantage of engaging a broker is that there will be a fee involved that is either charged to the dental practice buyer or the dental practice seller. Therefore, the value of a dental broker needs to cover the fee. Most deals are brokered by specialist dental agents as they will save you time, ensure you engage the top portion of the marketplace, negotiate you a premium offer and ensure a smooth end-to-end process.

Choosing the right broker can help you significantly, make sure you ask yourself these questions before deciding:

2: Who will be selling and positioning your dental practice?

The skill of a dental agent is down to the individual''s experience and training, not the companies. You need to feel confident that the person introducing you to dental practice buyers believes they can get you the best possible price for your dental practice and that this individual does not change during the process. In addition, if you get on personally with your dental agent then often, you will culturally fit with the prospective purchasers introduced to you and so will your staff and patients. The whole process will be smoother.

3: How confidentially will the process be managed?

Some dental agents will email your details to any dental practice buyer who has ever been interested in purchasing a dental practice. Often, the word can get out and hinder your ability to command a premium price. Ideally, you are looking for a specialist dental broker that has a whole of market approach and will contact specific people proactively and confidentially, that match what you are looking for.

Option 3 - Market yourself

A lot of the large dental corporates encourage direct enquiries, so as a principal dentist you have the option to personally market your practice for sale. This can be a good option if you know the acquisitions market well and have spare time on your hands, although you need to be careful not to reduce your positioning; your dental agent will ensure the most competitive offers are put forward. If you are considering negotiating the best price, read our specialist Ebook on negotiations here.

4. What is my dental practice worth?

Your dental practice is worth what a dental practice buyer is willing to pay for it! Our job is to give you a dental practice valuation guide and then more importantly introduce you to a special purchaser, that will pay a top valuation.

Typically speaking valuations look at your dental practice's maintainable profit level (or EBITDA). This calculation includes various adjustments to what you will see in your accounts to work out your true level of profitability for your dental purchaser. As an example, we would remove any depreciation you may see in your accounts to increase the profit levels, although we may add back in the rental cost if you own your own premises. Once the maintainable profit has been calculated, this will be multiplied by a certain number of times depending on factors such as practice mix, location, principal flexibility, profit, size of the practice and growth opportunity to name a few.

If you would like to understand exactly what your dental practice is worth, we will provide you with a complementary valuation with no obligation, to help you in your decision-making process. Often, we work with principal dentists considering retirement over the course of many years to improve their valuation prior to beginning the sales process.

5. How do I find the right dental practice buyer and negotiate the best price?

If you are looking for the best dental practice buyers, you need to consider the different advantages and disadvantages of the corporate model when compared to a regional dental buyer or a dental associate. This can depend on whether you want to stay on, leave on day one or how much flexibility you can offer. The right buyer for your dental practice will depend entirely on your personal situation and what you are looking to achieve by selling your dental practice.

We only work on dental practice acquisitions whereby both parties are gaining from the win-win transaction. In addition, we proactively search for special purchasers; these are dental practice buyers that not only fit your requirements, but can also make a better return when buying your dental practice and therefore, they can offer you a premium price.

To engender the best presentation and therefore price, your practice needs to be positioned to fulfil the buying party's requirements for their acquisition (your dental agent will take care of this). It requires a mix of psychology, sales and engendering a competitive process. If you would like to know more on this, please do get in contact and we would be happy to talk you through it.

6. Heads of Agreement / offer confirmation.

Once we have negotiated the best possible offer for you, we will write up a clear and concise document called the Heads of Agreement to ensure that the premise of the offer is understood by all parties involved. We find that given the quality of our documentation, our panel of recommended solicitors can reduce their fees down with our clients because a lot of the main points are clearly outlined and have already been agreed. Once this is signed, both parties have entered an exclusivity period and due diligence can then be carried out.

7. What is involved in the due diligence when selling my dental practice?

Dental practice buyers often need to do extensive due diligence to ensure their investment is safe and to secure funding. This involves providing information for a business acquisition due diligence checklist as well as often, a property due diligence checklist. Your specialist solicitors will provide you with a comprehensive practice due diligence checklist and help you with it. Alongside this, you will need to do a CQC (Who Are The CQC) application and negotiate the sale and purchase agreement, if you want to know more about this we have a complementary due-diligence guide, get in touch and we will send it right over.

8. Completion.

Finally, you have been through the entire process, signed the contracts and received the cash you have been waiting for! Retiring Dentist will support you right up until the cheque clears in your bank account offering a 360-degree service. In addition, we have several documents you will benefit from using when it comes to explaining the transition to your employees and patients.

Commonly Asked Questions In Dental Practice Sales

How much money do you need to buy a dental practice?

When you think about the amount of money you will need to buy a dental practice, it really does depend on the size of the practice you are interested in purchasing.

If you haven't got the cash available and decide to use bank financing, then you may need between a 5% and 15% deposit. Bear in mind that dental practices can cost anything from £350,000 minimum up to £10 million depending on the type of practice. For example, if it is a stand-alone or part of a group. That is a hefty deposit to put down so make sure you have or can get the funds for your acquisition!

In addition to the deposit, you will also need to cover legal advice which can be anywhere from £7k to £15k as well as bank / brokering fees.

As a minimum to start out, we normally recommend saving at least £80,000 to make sure that your deposit and fees are covered.

There is also the option of setting up a setting up a Squat Dental Practice

How profitable is a dental practice?

A principal-led dental practice with the principal working full time will usually be 33%-60% profit depending on how it is run.

The profitability of a dental practice can vary based on several factors, and it's important to consider various aspects of the business to get a comprehensive understanding.

Operational Efficiency:

The efficiency of day-to-day operations plays a crucial role in profitability. Streamlining administrative processes, appointment scheduling, and patient management can contribute to cost savings.

Patient Base:

The size and composition of the patient base impact revenue. A steady flow of patients, along with effective marketing and patient retention strategies, can positively influence the financial health of the practice.

Service Mix:

The range of services offered by the dental practice can affect profitability. Cosmetic dentistry and specialized procedures may have higher profit margins compared to routine check-ups, for example.

Insurance and Billing:

Efficient management of insurance claims and billing processes is vital. Delays or issues in reimbursement can affect cash flow and overall profitability.

Technology and Equipment:

Investing in modern technology and equipment can enhance efficiency and attract more patients. However, it also involves initial costs. Regular maintenance and upgrades should be factored into the overall expenses.

Location:

The geographical location of the dental practice can impact its profitability. Practices in urban areas might have higher operating costs but potentially attract more patients.

Staffing Costs:

Personnel costs, as mentioned, are a significant expense. Ensuring an optimal staff-to-patient ratio, effective training, and employee retention strategies can contribute to overall cost-effectiveness.

Marketing and Branding:

Well-executed marketing and branding efforts can contribute to attracting new patients. Investments in a professional online presence and marketing campaigns may yield positive returns.

Patient Satisfaction:

Happy patients are more likely to return and recommend the practice to others. Investing in patient satisfaction through quality care, excellent customer service, and a comfortable environment can contribute to long-term success.

Understanding the intricacies of these factors and managing them effectively can help optimize the profitability of a dental practice. Regular financial analysis, strategic planning, and adaptability to industry trends are essential for sustained success in the competitive healthcare landscape.

Is owning your own dental practice worth it?

To begin a dental practice, it is important to examine your motivations as to why. Only by understanding your motivations - your own "why" - will you be able to design your practice to facilitate those goals.

There are so many reasons why people buy a dental practice and being their own boss is high on that list.

When you own your own practice, you can control every aspect of the business - from staffing to the building exterior. You oversee policy and determine the standard of care.

You are in direct control of the wellbeing of your patients.

Through ownership, you can also rid yourself of the 'office politics' which is one of the top reasons for being dissatisfied at work. You can craft the work atmosphere you have always dreamed of and chose the people you will work closest with; on a schedule, you have decided.

At the stage in your career where you want to buy your own practice, it should come as no surprise to you that most dental practice owners earn more than their associates.

By being your own boss and potentially managing an entire team of associates, you will maximise your practice's earning potential by servicing more patients, without you having to personally do the work yourself!

Starting or buying a dental practice is not a risk to be avoided, it is an opportunity to be embraced.

We have seen clients transform from being an associate dentist to a successful practice owner using their skills, while also obtaining the large financial rewards they deserve.

Retiring Dentist Information Hub 2024

We've compiled Infomation based on some of the most common questions we get asked.

1: What Is EBITDA

2: Who Are The CQC

3: Dental Practise Valuations in 2024/25

4: Entrepreneurs Relief - What is it?

5: Buying A Dental Practice

Retiring Dentist & Options For Selling Your Practice

Since you are now looking to sit back and enjoy retirement and life after dentistry, you do have a few options to consider. This all depends on how quickly you want to exit your practice.

Dental Practices Immediate Sale

Dental Practices Phased Sale

Dental Practices Business Merger

Dental Practices Succession Planning

Dental Practices Client Bank Merger