Thinking of buying your first practice?

Buying your first dental practice will be one of the highlights of your career, but it will also be very daunting. At EQ, we can help you through the process and ensure your financials are in the best position before and after purchase.

Before you start looking for a practice, you need to think about what type of practice you want to run and who you want to run it with. If you are doing it with others, you will need to think about what type of business structure you want to have. This could be a partnership or limited company; both have their pros and cons depending on whether the practice will be NHS, private or a mix, so should be fully considered before you dive in headfirst.

Once you’ve found a potential practice, take your time to do some due diligence. Our EQ Healthcare specialists can check through the practice’s currents financials and projections to see if they are feasible, ensuring that the profits generated will cover any loans you will have to take.

We can recommend lenders and ensure that you have all the documents required for the funding application, such as your business plan, your previous tax returns and we can also do our own valuation of the practice if you wish.

Our help does not stop when the purchase is over, we will be on hand to help with any queries you may have regarding taking over staff or supplier contracts, payroll, record keeping – the list goes on.

If you are thinking of purchasing your first practice or would like further information on the services we provide, please get in touch with our EQ Healthcare team by calling one of our offices or emailing healthcare@eqaccountants.co.uk.