Buying a Dental Practice – Purchasing a Practice
Acquire a practice that will fulfil your ambitions
and avoid all the pitfalls for the best possible outcome.
With Collaborate’s Purchasing a Practice program
Purchasing a Practice
Program overview
Get independent advice and support from our senior exec-level dental industry specialists, as well as access to our practice support platform comprising proprietary tools, systems, and procedures to help you navigate a typically complex, sometimes perilous, and always challenging practice purchase process to achieve your best possible outcome.
‘’Setting up a squat, purchasing a practice and preparing to exit require diligent legal foresight to avoid issues that can seriously impact your objectives. We at Knights work with practice owners and their advisors like Collaborate Dental to achieve the best possible outcomes.’’
Alex Hall
Partner
Knights
Program benefits
Collaborate’s Purchasing a Practive Program will save you time, money and effort and minimise the risks associated with purchasing an existing practice.
Define your vision, ambition and goals
We’ll help you define or redefine your vision, ambitions, and goals so we can set objectives and identify a strategy and plan of action to achieve them.
Avoid unforeseen pitfalls
Go it alone and risk unforeseen pitfalls that can impact getting the best deal, the transition process, and protecting your resources and investment.
Define your ideal practice
Whilst it’s unlikely there’s a ‘perfect practice’ out there, knowing what your ideal practice looks like will help you identify the best fit and/or a practice with the most potential. Understanding the implications of compromise is essential.
Risk mitigation
While avoiding common pitfalls will improve the outcome of the purchase, mitigating risk has long-term implications for the success of your business and your ability to truly realise your ambitions.
Save time, money and effort
Talk to a practice owner buying their third or fourth practice, and 9 times out of 10, they’ll tell you to seek expert, up-to-date knowledge, advice and support to not only save time, cost and effort but to create opportunities for growth and success.
Minimise disruption
Thorough due diligence, careful investigation, and a little research when you know what to look for will highlight factors that will affect a smooth transition, continuity, and performance.
Retain and motivate staff
Poorly managed transitions result in, at the very least, poor staff morale and at the very worst – key staff resigning both of which affect productivity and performance. Whilst practice purchases are kept confidential during the sale process, we’ll have ready-to-go transition systems and procedures designed to retain, motivate, and develop key staff.
Download the factsheet
Purchasing a Practice
Download our Purchasing a Practice factsheet (a print-ready version of this page) for further reference.
Program deliverables
When you purchase a practice program, you receive a sequence of solutions that address the key challenges and requirements of purchasing a squat.
1. Define vision, ambition & goals
Guides strategy, motivates teams, fosters growth, and ensures long-term success.
2. Practice criteria & specification development
Process that defines what your ideal practice will look like.
3. Practice search advice & guidance
Top tips for finding suitable practices, even ones that might not appear to be for sale!
4. Acquisition financial forecasting
Calculating future performance to inform decision-making.
5. Purchase due diligence
Practice performance assessment and due diligence that will highlight any issues or opportunities.
6. Brand reputation audit
Easily overlooked, but essential if you want to build upon success rather than try and reverse failure.
7. Competitor analysis
Exploit opportunities and gaps in the market rather than play catch-up with established, well-resourced competitors.
8. Regulatory compliance & dummy CQC inspection
Mitigate the risks of non-compliance.
9. Marketing audit
Evaluate the effectiveness of current marketing activity and the resources required to optimise it.
10. Acquisition project management
Manage all practice acquisition resources and tasks cost and time effectively for the best outcome.
Program tools
As well as expert advice and support, we’ve developed a suite of proprietary, bespoke, and specially adapted dental practice systems, procedures, protocols and SAAS tools that are easily adapted, implemented, and managed to boost the performance of all practice types
Financial forecasting
Mitigates risks, ensures financial stability, guides decisions, and facilitates strategic planning.
Based on a review of the previous 3 years’ P&L, income streams and productivity, and MAP (Member Action Plan) targets, we’ll identify potential revenue and cost control/reduction.
Online compliance platform
Simplifies compliance, reduces risks, ensures accuracy, and promotes efficiency.
Our cloud based CQC compliance tool provides templated policies, procedures, schedules of requirements, performance tracking tools, dummy CQC inspections and GAP analysis reports.
Project management
Enhances collaboration, streamlines tasks, improves efficiency and ensures project success.
Our feature-rich, easy-to-use project management framework lists key ‘transformation’ activities, tasks, actions, timeframes and targets, and monitors progress.
Treatment profitability
Identifies your most profitable treatments and helps set treatment pricing to maximise profit.
Identify which treatment is most profitable and set prices that 1) best reflect treatment value 2) what patients are prepared to pay, and 3) strategic implications for long-term growth.
Marketing audit
Identifies strengths, weaknesses, and threats, enhances strategy, and ensures marketing effectiveness.
Audit including SWOT analysis of current marketing that compares against industry-standard practice marketing benchmarks/KPIs for patient acquisition, retention, and value maximisation.
Tactical modules
Integrated into your Purchasing a Practice Program are additional stand-alone ‘Tactical Modules’ that optimise crucial business functions essential to growth and success:
Recruitment
Build a team that shares your vision and values
Find, attract, screen, review and recruit high-quality, motivated staff who will facilitate clinical excellence, contribute to the success of your business and be ideal work colleagues.
Bookkeeping
Tracks finances, informs decisions, ensures compliance, and supports financial health
Providing complete and accurate data used to monitor and measure performance within the KPI dashboard, financial forecasting, and P&L.
HR Essentials
Talent management, compliance, culture, employee well-being, organisational success
HR advice, support, tools, and solutions to ensure efficient staffing, compliance, and a positive workplace culture.
Administrative Support
Practical advice and support to help run the practice
Bespoke administration support to help streamline operations, enhance efficiency, and ensure smooth administrative processes, contributing to operational efficiency.
Practice Marketing
Attracts patients, builds reputation, fosters growth, ensures practice visibility
Audit, SWOT analysis, define goals and targets, strategy, and plan of action to achieve them, implementation and management of a bespoke program comprising tried and tested, best practice tactics that focus on three pillars to practice success [1] Patient Acquisition, [2] Patient Retention and [3] Patient Value Maximisation.
Expert Support
Your Purchasing a Practice Team
Join the Purchasing a Practice Program and expand your team with a program director, program pilot, or program administrator, with support from preferred specialist service providers.
Program Director
- Research, strategy, and planning
- Knowledge-share, advice, and support
- Program direction
- Monthly performance review, report, and recommendations
Administrative Support
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Program administrator
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Practice administrator
Program Pilot
- Implementation and management
- On-going performance monitoring and reporting
- Operational knowledge, advice, and support
- Practice management support
Expert Partners
- Marketing
- HR
- Law
- Finance
Download the factsheet
Purchasing a Practice
Download our Purchasing a Practice factsheet (a print-ready version of this page) for further reference.
5 star rated
Member testimonials
Dr. Ellie Ledger
Principal Dentist/Practice Owner
Arnica Dental Group
Collaborate’s Practice Support Program helped us boost profitability and improve EBITDA prior to successful sale to Bupa Dental Care.
Dr. Nooshin Vasfi
Endodontist
NV Endodontics at Premier Smile
Since I joined as a member, I have progressed in all my plans in refurbishing the practice, in employing new dentists, training staff and training dentists. I improved the foundation of the practice to be able to expand and make the practice a better place.
Dr. Veronica Morris
Principal Dentist / Practice Owner
Smile NW
Collaborate are my right-hand man. I run a small single-handed practice and feel that Collaborate are like a partner – actively helping me with all aspects of running the practice from HR. to monitoring the finances, improving footfall, marketing & recruiting. They are always at the end of the phone and respond quickly.
Dr Christina Diamanti
Practice Principal and Owner
Abbey Road Dental Practice
Ross’s (Practice Pilot) dedication to finding the best solutions for our needs has been a great asset, and his fresh ideas for modernising and growing our practice have been invaluable.
All programs
Practice Support Program
Our 5 Practice Support Programs provide essential support to dentists wherever they are in their practice ownership journey.
Setting up a squat
Collaborate’s ground-breaking Setting up a squat program comprises the knowledge, advice, tools, solutions and support you’ll need to achieve better results faster.
Purchasing a practice
We help you navigate a typically complex, sometimes perilous and always challenging practice purchase process to achieve your best possible outcome.
Growth acceleration
Build your ideal practice faster and more efficiently by accelerating growth, success and opportunity with data-driven, smarter and faster decision making.
Practice transformation
We help you redefine your vision, ambition, and reset goals to fix team issues and remove barriers to growth and success, reverse decline and boost performance.
Preparing to exit
Our experienced dental business specialists provide advice and support to help you navigate an often complex practice sale process for the best possible outcome.