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SHOULD YOU BUY THAT Shape your practice finance

DENTAL PRACTICE FOR SALE? to meet your needs

HAVE YOU SEEN A DENTAL PRACTICE FOR SALE AND

THOUGHT, ‘THAT LOOKS INTERESTING’? IT MAY ACTUALLY BE

THE BEST WAY TO EXPAND YOUR EXISTING BUSINESS.

f you are looking to expand into Ways to judge if a It’s worth seeking professional
a new dental practice, it is likely dental practice for advice from your accountant or financial
Ithat purchasing an existing sale is a bargain adviser about the potential benefits and
dental practice for sale will seem Research the culture of the practice pitfalls of buying a practice. It’s also
more appealing than starting and demographics of the area important to seek legal advice regarding
another practice from the ground carefully, to save yourself the potential ownership structures.
up—particularly if this is the way marketing expenditure later and Purchasing an existing practice can
you went into business the first ensure a healthy business into the save you the time you would need to
time round. future. What does the community in set up from scratch, but you are buying
Buying an existing dental practice the local area look like—is it growing an entity that has been operating
for sale allows you to consolidate or changing? Are there young families without you for some time. Thorough
your professional position without moving into the area? Are such investigation of the business proposition
the set-up risks and capital costs of families already on the books? can save you from the sense that
starting a new practice. Depending It’s also important to consider the you’re not in control of all aspects of the
on the arrangements you make with accessibility features of the premises practice down the track.
the existing owners, you could start of the dental practice for sale. Does In other words, it’s important to
to see returns flowing through from it comply with regulations concerning be comfortable about what you’re
this business as soon as you take wheelchair access? Make sure you buying into.
the reins. cover yourself from the word go— BOQ Specialist has been helping
check how the business has been Australian dental professionals to buy
The advantages of running up until now. If you will be into existing practices for over 25
buying a practice buying in as a partner, are there years. For further information about
There are several other aspects of existing arrangements regarding the our practice purchase loans, contact
the business that you will benefit distribution of income and expenses one of our financial specialists today
from immediately—most notably, the among these partners? on 1300 131 141 or visit our website
existing patient base of the clinic you’re at http://www.boqspecialist.com.au/ Dream of owning your own private practice?
considering buying. The expertise of the What to consider with a practice-finance/practice-purchase-loans Or buying into an existing practice or clinic?
current staff and the systems in place practice buy-in Disclaimer: The credit provider is BOQ Specialist -
may also save you headaches in the With a practice buy-in, it’s important a division of Bank of Queensland Limited ABN 32 Our practice purchase loans provide you the opportunity to:
long run—if you do your homework. to ensure that you cover yourself 009 656 740 AFSL and Australian Credit Licence • borrow up to 100% of the purchase price of an existing
Set up some time with the staff from the outset and perform due no. 244616 (BOQ Specialist). BOQ Specialist is not practice, or share in a partnership
at the practice to work out whether diligence on all aspects of the business. offering financial, tax or legal advice. You should • make flexible repayments to suit cash flow and tax needs
they will be a good fit as your future Consider how income and expenses obtain independent financial, tax and legal advice • benefit from competitive fixed and variable rate options
employees. Think about how the are distributed amongst the partners— as appropriate. The information contained in this • borrow against goodwill and assets rather than against
patient and existing practitioner is it by ownership, days worked or article (“Information”) is general in nature and your home
culture suits you. Are you happy percentages? Examine the property has been provided in good faith, without taking
with the layout of the surgery, on issues surrounding the purchase into account your personal circumstances. While Find out more at boqspecialist.com.au/practicepurchase or
the whole, or is it going to require of the business—it’s important to all reasonable care has been taken to ensure speak to your local finance specialist on 1300 131 141.
some updates or renovations to know whether there are complex that the information is accurate and opinions
accommodate your patients or to arrangements concerning the land title fair and reasonable, no warranties in this regard
suit your purposes? Is it on a main or lease agreement. If you are buying are provided. We recommend that you obtain Car loans | Commercial property | Credit cards | Equipment finance | Fit-out finance | Foreign exchange | Home loans | Personal loans | Practice purchase | Practice set-up |
road? Does it have high visibility in only a percentage of the business, these independent financial and tax advice before SMSF | Transaction and savings accounts | Term deposits
the area? issues become even more complex. making any decisions. The issuer of these products and services is BOQ Specialist - a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL no. 244616 (“BOQ Specialist”). Terms and
conditions, fees and charges and lending and eligibility criteria apply. Any information is of a general nature only. We have not taken into account your objectives, financial
situation, or needs when preparing it. Before acting on this information you should consider if it is appropriate for your situation. You should obtain and consider the relevant
terms and conditions from www.boqspecialist.com.au before making any decision about whether to acquire the product. BOQ Specialist is not offering financial, tax or legal
advice. You should obtain independent financial, tax and legal advice as appropriate. We reserve the right to cease offering these products at any time without notice.
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