We’ve recently overseen the incorporation of three dental business partners. They’d worked together for years with a sub-optimal tax position, before finally accepting that they wanted to fix it. The short story? They saved around £500,000 by taking action. Their business is growing, they’re conserving huge amounts of money – as individuals and as a practice – and life is far less stressful.
The long story? This doesn’t happen overnight, and it’s not always easy. For these partners, it was a long road to travel, with definite bumps along the way; both logistically and in the dynamics of their relationship. And this isn’t only true for them. It’s a universal truth (even if it’s not universally acknowledged) that these kinds of results are hard won.
Despite this, I know that a quick Google search would turn up many hundreds of articles claiming to share tips for making X amount of money with almost zero hassle. Those are probably the articles people want to read, and they’re often the promises they want to hear from agencies like Hive. So, why am I not saying this?
Because it’s simply not true. There are certainly some quicker wins when it comes to saving tax, and numerous ways to make life easier for yourself financially (using software like Xero for bookkeeping, for instance, is a true no-brainer), but when it comes to big decisions and business leadership, things will always take more effort.
For this reason, we prefer to present the honest picture, rather than making false promises. The beauty of this is that while we’re acknowledging that yes, it might be difficult, we’re also helping you find the genuine wins that make a difference. Even as the business climate gets tougher, and dentists have to work harder, we can help take care of those big-ticket game-changing tasks, so that you can focus on what you do best.
This applies regardless of the change or challenge you’re facing. Perhaps you’re looking ahead to a practice sale, preparing to buy, or – like the two partners I’ve mentioned – seeking ways to save money. There will be hurdles, and there will be events that threaten to derail the whole thing; but we will get through it together.
For example, we often work with clients who have already heard from past advisors that something can’t or shouldn’t be done; steps like incorporating with an NHS contract. There are ways around many seemingly insurmountable things, but only if you want to find them and you’re working with an expert who is willing to put in the legwork.
One of the things that make Hive unique is the solid reassurance we can offer. We know this industry, its demands, and the climate you’re living in. We understand what you’re going through, and we’ve seen it all before. Where other advisers take the easy way out, we’ll keep working to make the best results happen. We don’t want to offer an “easy win” that falls flat and leaves our clients moving on in 12 months’ time. Fundamentally, we’re building relationships for the long term.
We know that many practice owners trust the advisor they already have – so why on earth would they trust us? Not only are we new to them, but we’re also telling them that there is a different way. It’s natural to be wary, so to help build peace of mind, we’ve created a service that helps clients to see what we can do, without committing themselves to anything.
Hive’s Fact Find process begins with a free consultation, during which we’ll talk about your individual challenge and identify how we can help. Then, if you choose to continue with us, we offer a straightforward money-back guarantee; meaning if we can’t save you more than you’d spend, or can’t find the solution you’re looking for, we’ll happily return your fee.
Ours is an approach that regularly helps our clients create positive changes, from making one-off tax savings of £200,000 to tripling the sale value of their practice. If you’re willing to trust us to help, we’re here to find those major gains – and we’ll be by your side at every step of the way.
