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.

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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.

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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.

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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.

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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.

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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.

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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.

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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:

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

  • Program administrator

  • 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

DISCOVER HOW COLLABORATION CAN HELP YOU PURCHASE YOUR IDEAL PRACTICE AND SAVE YOU TIME, MONEY, AND EFFORT IN THE PROCESS.

Book a free, informal, no-obligation chat with one of our dental business experts

And explore how to achieve your vision, ambitions and goals faster.

All programs

Practice Support Program

Our 5 Practice Support Programs provide essential support to dentists wherever they are in their practice ownership journey.