The Snyder Group Follows Seven Steps to Successfully Sell Your Dental Practice
Step 1. We Conduct an Onsite Assessment
Once you engage The Snyder Group as your broker, one of our affiliated consultants will conduct an on-site practice valuation to appraise your practice's true value. The consultant will visit your practice to review the physical plant, as well as perform a random chart audit, conducted in compliance with HIPAA guidelines.
Step 2. We perform a Comprehensive Practice Valuation
We prepare a formal, comprehensive, and detailed Practice Valuation. This valuation utilizes several different methods for determining value, and uses the average arithmetic value of these methods to arrive at a fair market value. A five-year cash flow projection showing the economic benefits of the acquisition is also included. You will receive a 30-page narrative report and analysis that details and supports your sale price, and can help buyers obtain adequate financing.
Step 3. We Thoroughly Market Your Practice.
The Snyder Group develops a customized marketing plan for the sale of your dental practice. All marketing is handled with the utmost confidentiality, respecting your interests. An important part of marketing is our comprehensive, real-time database of searchable dental offices for sale on our website, which we promote online and in journal marketing, direct mail, and advertising. Of course, as a division of Henry Schein Professional Practice Transitions, we have access to an expansive network of dental professionals nationwide.
Step 4. We Screen Buyers.
To protect the seller's interests, The Snyder Group requires that all candidates looking to purchase a practice sign a confidentiality agreement and provide a resume. (is this correct?) The Snyder Group determines the applicant's creditworthiness and ability to purchase the practice before engaging a discussion.
Step 5. We Negotiate a Fair Price.
Once the purchaser has been identified, The Snyder Group team will then work with both parties in order to orchestrate a fair and equitable buy-in, purchase, or customized co-ownership solution. The Snyder Group team works with the seller and purchaser's accountant and attorney.
Step 6. We Streamline the Agreement Phase.
As part of our commission structure, The Snyder Group also provides contract templates necessary to complete the transaction. Agreements are emailed to respective attorneys for final review and signature.
Step 7. We Can Arrange Purchaser Financing.
The Snyder Group can also assist the purchaser, if requested, to obtain financing for the transaction. A loan origination fee is charged to the purchaser for this service. With all elements in place, The Snyder Group takes the process from listing to settlement, for a smooth transition.