Minford specialist dental accountants and Lockharts dental solicitors have joined together to create a protocol to help dental professionals reduce the delay and duplication that is becoming too common during the sale or purchase of a practice.
The Dental Acquisition Protocol Map (DapMap)launched in January, is a unique and fresh ‘route map’ approach to buying or selling a practice, aimed at taking the stress of avoidable delay and transaction fatigue out of the process by creating a structured framework.
This framework organises and supports each key moment, co-ordinating important time-bound elements in order to avoid the traditional pitfalls and stresses of the process.
The various practical aspects of the DapMap sets up and monitors markers and checkpoints (milestones) along the way to keep the sale/purchase journey as efficient and effective as possible. By using this protocol all interested parties are kept up to date with the progress and can be assured of minimised risk and as smooth and easy a transaction as possible.
Johnny Minford, partner and owner at Minford, said, “We are delighted to work with Andrew Lockhart to bring this unique and practical tool to the dental profession. Each year hundreds of dental professionals go through the difficult and stressful process of buying or selling a practice. Even with excellent specialist advice, this can be a minefield for them and a period which should be a positive one too often becomes one of disillusionment and frustration.
“With our joint years of experience and hands-on approach to supporting all stakeholders in the sale and purchase process, we have produced our ‘route map’, the Dental Acquisition Protocol Map, as a framework to help towards maximum financial and practical benefit.
“On completion day, everyone wants to be able to shake hands, smile and say: ‘That was a great transaction. We have a good deal.’
“That is the purpose of the DapMap and, in the hands of willing professionals, it will deliver.”