The face of the unknown
The face of the unknown
If you are buying or selling a dental practice you will need to face the unknown

By Ellen Curnow, Accountant at Hive Business

Fear is an illusory energy founded in lack of knowledge. Ergo it is human nature to fear the unknown. Even when this unknown is something that we want, we still tend to feel nervous about it. If you start a new job, buy your first house or go on a first date, you will inevitably be made to feel nervous (by their very definitions as unknowns) even though all of these things could bring you something great.

So now if we start talking about a scenario where we can’t even tell if the change will bring a positive outcome, that fear is of course going to take over, which explains why so many people are rendered paralysed in the face of the unknown.

The dental sector has seen massive increases in consolidation in recent years, and the expectation is that this state of change will continue for the foreseeable. This has been and will continue to bring a range of unknowns to practice owners as they are presented with options to hire, fire, buy, sell, or jack the whole thing in and go into employment!

In light of this, we’ve seen a shift in demand towards advice and due diligence work on practices and other businesses which clients are looking to buy or sell.

Of course, the ultimate question in these instances which both the buyers and the sellers always want answering is; What’s it worth?

Well, practice valuations can be a dark art, and even when you have reached a number, there is an infinite number of alternate angles you need to observe when deciding whether or not to buy/sell. It is at this point where you have so many questions and so few answers, that you may be rendered paralysed by this huge unknown and, end up putting off the decision until the moment has passed altogether.

Do you have the legal, commercial, human, management, pension, tax, environmental, IT, production, technology, intellectual property, antitrust, insurance and risk management resources to make an educated decision?


Never fear, we can help.

Call 01872 300232 or email if you are buying or selling a practice.

The information contained in this article is based on the opinion of Hive Business and does not constitute formal tax advice. Any tax outcomes will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future. You should seek specific advice before embarking on any course of action. Hive Business does not provide regulated Financial Advice, including advice on investment, insurance or lending products or their suitability for you. This article is provided for information only and does not constitute, and should not be interpreted as, investment advice or a recommendation to buy, sell or otherwise transact, or not transact, in any investment including Bitcoin and other crypto. Any use you wish to make of any information contained within this article is, therefore, entirely at your own risk.

By Team Hive
If you have any questions or comments about this article, please get in touch.
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