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Practices For Sale Associateships Available |
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1-5 Yr. Sale Planning & Free Consultation |
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Adding Associates Issues To Consider |
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Protect Practice Value For Future Sale |
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Specializing in Dental Practice Sales, Transitions, and Appraisals |
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George D. Stollings and Associates, Inc. |
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Company General Contact Information: |
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Benefits Of Our Services |
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The benefits of our practice sale brokerage, sale consultation, or associate addition transition plan development services include:
· Transition Structure: Our recommendation on transaction structure. (How to structure the project to best achieve your specific financial goals and career objectives)
· Significant Savings On Legal & Accountant Fees For Both Sellers & Buyers: The hours of service required by both parties’ attorneys and accountants are dramatically reduced by our: (i) experience in practice valuation; (ii) guidance in purchase price allocation to various asset categories; (iii) experience in guiding and assisting in negotiations; and, (iv) our knowledge of the key contractual issues required in practice sale contracts, combined with our ability to develop and provide the preliminary contract drafts for review by the parties and their attorneys and accountants, together eliminating the expense of the parties having to pay their attorneys to explore for the issues to address, and then create the preliminary drafts. (Note: Ask us how much difference we’ve seen in legal fees.)
· Favorable Tax Treatment: Proper allocation of the purchase price, to the various categories of assets sold, can increase the percentage of the sale price that is treated as long term gains, and decrease the percentage subject to ordinary income tax rates. In addition, for incorporated (c-corporation) practices, correct structuring of the sale itself can minimize the effect of double taxation. Our experience in structuring sales lets us work in combination with your accountant to achieve the more favorable tax treatment.
· Mediation & Reconciliation: Managing and reconciling the issues raised by the buyer, seller, their 2 accountants, and their 2 attorneys.
(Inserted Note: Before contracts can be developed, finalized, and signed, this complex 6-way negotiation process inevitably arises in almost all practice sales. It is the most critical stage in the practice sale process, and it is the stage at which the sale process is most likely to fail.)
· Finding The Correct Buyer: Finding qualified buyers whose career and financial objectives actually match with the opportunities provided by their specific practices — making the sale and purchase then feasible for both parties.
(Inserted Note: We print and mail 10’s of 1’000s of full color advertisements on behalf of our selling clients each year — targeted at those dentists most likely to purchase practices. Our website supplies additional valuable exposure for our selling clients. In a recent analysis, in a 20 day period, 154 different persons clicked into the “Practices For Sale” section of our website.)
· Contracts: Input into, and our role in development of the project’s documents and contracts.
(Inserted Note: Many provisions in dental practice sale contracts are unique to dental practice sales, and are not managed as they might be in the sale of other businesses. Among them: (i) allocation of purchase price and its effect on both parties’ taxation; (ii) dealing with seller’s accounts receivable; (iii) seller’s rights to access of patient charts and records if a law suite is initiated after the sale; (iv) buyer’s use of seller’s name following the sale; (v) timing the introduction of buyer to staff members; (vi) content of seller’s letter of termination and introduction of buyer to patients; (vii) management of treatments in progress at the time of the sale; (viii) seller’s role in any treatment remakes required shortly after the sale, etc. Experience in dental practice sales is required to identify and correctly address the many unique aspects of dental practice sales.)
· Better Financial Results: Quality appraisals establish and document the practice’s fair market value for seller’s, buyers, and the accountants and other advisors for both buyers and sellers. This prevents the most common financial errors made by practice sellers:
Under-selling, not realizing the full value of their practices; Over-pricing — which can either drive off potential buyers, or lead to their purchase loan applications being rejected.
· Organization: Staying on top of the process, keeping it moving forward, and bringing the transaction to a closing.
· Easier: Making the process smoother, more efficient and less difficult for the both parties.
· Purchase Loan Source: Guidance and help in obtaining the buyer’s purchase loan.
· Experience: Leading to better understanding of, and resolution of both parties’ concerns.
· Advice: Provided to the client at various crucial decision points in the process, or during negotiations of critical issues.
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“George’s handling of our sale was one of the most organized, well thought out, professionally handled transactions that I have been involved in. Very, very thorough.” Jack Eblin, D.D.S. West Virginia
RE: Dr. Stollings. “He analyzed several different practices and helped me find the one that fit me best.” Joseph Wiggs, D.D.S. Tennessee
“George makes it personal… … He looks beyond the sale to insure that the needs of both seller and buyer are met.” Josh Treesh, D.M.D. Kentucky
“...George is very persistent and organized. My lawyer was very complimentary. It would not have been completed without his services.” Edward Atkins, D.D.S. West Virginia
“...George was instrumental in analyzing all options for me and possible time-frames for each. He not only was able to find a buyer for my practice in a timely and efficient manner but he was concerned for me personally in my transition.” Kathy Miller, D.M.D. Kentucky
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