Buyer Review and Consulting Services
NDP offers advice and guidance for buyers who need someone to represent their interest in the purchase. In order to assess the opportunity, NDP will need the following information prior to our call:
- Valuation of the practice (if available);
- Last two completed years of business tax returns for the practice;
- Most recent year end profit loss statement for the practice;
- Current year to date profit loss statement for the practice;
- Building or lease information;
- Detailed description of how the transition will work according to the broker or seller;
- Estimated improvements the practice will need; and
- Summary of the buyer’s financial situation.
NDP will then provide a complimentary, one hour review/discussion based on our review of the information above. Once we determine the practice will meet your expectations we will discuss, big picture, how to move forward with the transition whether that be a Letter of Intent (LOI) or signing an associate agreement that later leads to the practice acquisition or partnership.
We estimate that a buyer needs at least 20 hours of detailed consulting/coaching and a review of important legal documents to adequately advise him/her during this process. Together with the combined expertise of Cain, Watters & Associates, PLLC, we have more than two decades of experience with practice transitions. We know how to guide the buyer through one of the most significant financial decisions they will make as a dentist.
Areas in which NDP can provide experienced advice include:
- Collections and overhead;
- Financial review and explanation of the practice valuation;
- Examination of practice tax returns and financials to verify cash flow;
- Practice procedures review to confirm you the buyer can do the dentistry;
- How lease and building considerations can impact the sale;
- When the established doctor works in the practice after the sale and how that effects cash flow;
- Assistance with lending and shopping multiple vendors for the best rates and refinancing opportunities on existing debt;
- Assessment of practice growth potential based on location, procedures and marketing.