Professional Practice Associates, Inc. provides the following services:
The primary function of Professional Practice Associates is to manage the sales of dental practices for doctors wishing to sell. Our firm will accomplish this task with the professionalism dentists would expect. We will work diligently to locate and qualify buyers by marketing your practice in the manner which best represents its attributes. As we have a good working relationship with firms who finance practice purchases, we are able to assist effectively with any necessary financing needs of the buyer. Our negotiating skills will prove valuable in accomplishing the sale of the practice, and we are ready to guide you in areas from writing the contracts, to the closing of the sale.
Professional Practice Associates is also pleased to work with dentists wishing to purchase a practice. We will help you find a practice fitting your ideals regarding location, size, growth potential, etc. Our firm can also assist you in securing adequate financing with which to make the practice purchase and also having the most favorable terms and rates, for you. We do not charge any fees to buyers of dental practices that are listed by our firm We also represent Buyers in the details of transactions that they have located or originated, for a nominal fee.
Professional Practice Associates holds the strong belief that an accurate dental practice valuation provides the basis for trust between the Buyer and Seller. Without a comprehensive valuation of a practice, its value is anyone's guess. Our firm is an active member of the Practice Valuation Study Group, the largest and most active organization of its type, anywhere in the country. Regular meeting are held to increase its member's skills in the art of valuing dental practices. When a practice us valued using a single technique, the value could have room for large fluctuations. In this case, either the buyer or the seller can be treated unfairly. Professional Practice Associates, uses an averaging of several different methods of valuating a practice, thereby creating a more accurate value of the practice. This benefits both the buyer and the seller and in one of our transitions, both can be assured that they were treated fairly.
Whether an employer dentist is hiring an associate dentist or the selling dentist is going to continue practicing within the practice after it has been sold to another dentist, a contract is mandatory for the success of such arrangements. Such agreements should define "all" of the considerations of such an arrangement, because it is the part that is not written down that frequently causes hard feelings on the part of one party or both. Professional Practice Associates does not attempt to function in the role of an attorney; however, we can provide the framework of a successful agreement for your review and that of your attorney. By providing such insight and information, less time will be required from your legal advisor and reduce the costs of utilizing an attorney.
Whether you are looking for a dentist to become an associate with you in your practice or if you are a dentist who is looking to become an associate with an established practice, Professional Practice Associates can help you. Our firm's ear is tuned to the needs of the dental community and often we are the first to know of such associate positions and potential candidates to fill them. Many times, associate relationships are ultimately unsuccessful and frequently leave hard feeling in their wake. Most of these situations are caused by the unfulfilled expectations of either the employer dentist, the associate dentist or both. Professional Practice Associates can guide you in establishing a framework for a successful associate relationship. Unless you have experience in this area, we strongly recommend that no one try to "wing it" or set up such an arrangement with a word of mouth agreement and/or a handshake.
It has been our experience that many sellers or buyers of dental practices begin our business relationship by asking the very good question "What do I need to do to get started in the process of selling my practice, or buying a practice of my own?" Unless you have a great deal of experience in buying or selling dental practices, it is one of those areas that can be very confusing and one in which serious mistakes can be inadvertently made. Many complicated issues are involved in the sale or purchase of a dental practice and we strongly believe that parties involved with such a transition should enter into the process, well informed of all aspects of the process. We offer a Free Consultation for any dentist who calls Professional Practice Associates and asks for information regarding beginning a transition for themselves. At this consultation, we will examine your options and present to you a plan to proceed with your transition needs and goals. You will have learned what Professional Practice Associates can do for you, how we feel it should be accomplished and exactly what will be required of you, the seller or buyer.
Professional Practice Associates has presented seminars to a variety of dental groups and can do so, on a wide range of dental practice transition subjects. If you feel that your dental society, study club or student group would benefit from exposure to the thoughts and insights of a practice transition specialist, please feel free to call Professional Practice Associates. We will tailor our presentation to fit the specific requirements of your group.