Succession Planning and Exit Management

When the time comes to sell your practice, or transfer ownership to someone else, you will need a clear, well thought out plan.

You will need to:

  • Understand which exit option is best for you
  • Communicate with your staff at the most appropriate time
  • Organise your finances, both business and personal
  • Document your processes for any future principals
  • Be prepared for the next step, whatever that may be

You want your exit to be carried out in a smooth, hassle-free way so that you can continue to focus on your patients until you leave. You can only do this through clear preparation beforehand – and that’s where DentAcc comes in.

Should you be preparing to sell your practice?

When you want to move on from your practice, that decision needs to be financially viable for you. DentAcc will help you consider what your future looks like financially, following your exit from the practice.

That way, you’ll have a clear sense of how you can:

  • Continue to financially support your family
  • Remain active in the practice, if wanted
  • Transfer the practice to a new principal
  • Ensure that your staff are looked after
  • Retire in an agreeable and stress-free way

Assess all your options

Whether you want to pass your practice onto someone else, or explore other options, you need to clearly understand what will work best for you.

Our expertise and experience in the dental profession means that we can help you consider all the important issues, such as:

  • What you want your life to look like post-exit
  • Which exit option is best to help you achieve this
  • Whether you are going to stay involved with the practice
  • How you can prepare staff for what’s about to happen
  • Receiving an accurate valuation of your practice
  • How your exit will be structured in the most tax efficient way for you

When you are exiting, we can help you structure the contract in the best possible way to ensure maximum value and minimum tax as possible.

Preparing for your exit

Preparing to exit your practice can be a difficult and emotional time – which is why you need an accountant that takes much of the stress off your hands. Our personable service will guide you towards the best option available to you, and then help you through with it.

If you want help managing your exit from your practice, then DentAcc can help.

Call 03330 067876 or email enquiries@dentacc.co.uk