No More Horror Stories

Buying or selling dental practices can, arguably, be even more fraught with additional factors, such as navigating the legal minefield and the need to compromise.  Anecdotes of buyers leaving themselves overcommitted by paying broker fees and sellers tied into ‘earn out’ contracts that fail to incentivise them to grow their businesses are worryingly commonplace.  Similarly, valuers have attracted criticism for inflating prices and failing to set realistic price expectations for sellers.

Frank Taylor & Associates (FTA) have been working on a voluntary code of practice, the Practice Sales Promise, with the intention of making such episodes a thing of the past. PFM Dental and FTA are among the organisations who’ve already committing to adopting the code, and it is hoped many others will soon follow suit.  Lis Hughes, managing director of FTA, has been instrumental in the launch of this, “We very much hope to create a level playing field and to enable everyone to make fully informed decisions having had access to all the relevant information.”