PRACTICE TRANSITIONS
PRACTICE TRANSITIONS
Your practice is as unique as you are. The same is true about your practice transition. Let our dedicated and experienced attorneys do the heavy lifting so you can continue to focus on what matters most to you. We blend creativity, compassion, and expertise to develop the ideal transaction structure for each client after considering their unique set of circumstances and expressed personal and professional goals. With decades of niche experience in private practice dental, veterinarian, and medical specialty transitions, we know what to expect, and we are able to anticipate issues before they become headaches. Our expertise fosters a streamlined process which translates to lower costs.
Buyers
We get it. You are about to make what will likely be the most significant investment of your life. You have a lot of questions, or maybe you don’t even know where to begin. We take the time to explain the process and take proactive steps to ensure that you avoid common pitfalls and take advantage of good opportunities. We promise to be brutally honest with you if we see you making a mistake because we care. We do not view your practice purchase through a microscope; we will take the time to get to know you and learn your long-term, personal, and professional goals to ensure the best outcome for you. Our relationship does not end when you sign the purchase documents. We will walk with you through every stage of your career until you pass the torch to the next generation. Let us help you build a strong foundation from which you can build a lasting legacy.
Sellers
You have worked extremely hard to build a lasting legacy you can be proud of; now, it is time to pass the torch to the next generation of young doctors. This can be an emotional and stressful time for you, but that doesn’t mean it can’t also be fun and exciting! We are here to guide you through the process so that you have one less thing to worry about as you get ready to transition into a new phase of your life. From appraising your practice to drafting and negotiating the sale documents through closing and beyond, we have the knowledge and experience to help you achieve your goals. Whether you are considering an outright sale, a buy-out from your partnership, a sale to a family member, or any other practice transition, our legal team has the skill and proficiency to help draft and negotiate the sale contracts on your behalf. Our agreements are easy to understand, reasonable, and able to withstand scrutiny. We take a proactive approach to contract drafting—considering potential outcomes before they happen to ensure that our client's interests are protected, both now and in the future.
We represent buyers and sellers, partners and associates in every stage of a transition.
This includes:
Our compassionate and responsive legal team takes a collaborative approach to support buyers and sellers in all aspects of their practice transition.
Here is a non-exclusive list of ways we can assist you:
- Practice Appraisals
- Consultation on the practice transition structure that best fits your goals and circumstances, including achieving the best (legal) tax outcome for all parties involved
- Drafting and negotiating transition documents
- Preparing and negotiating Employment/Independent Contractor Agreements
- Entity formation
- Tax consulting
- Reviewing and negotiating leases
- Corporate consulting
If you have business or legal needs that fall outside our area of expertise, we will put you in contact with one of the experts in our expansive network built over 50 years in the industry
PRACTICE VALUATIONS / PRACTICE APPRAISALS
While the most common reason for a practice valuation is to plan for a sale, there are many reasons to seek valuation services. Often, the valuation is performed prior to bringing in a new associate who has the potential to become a partner. A practice appraisal is also typically required in sale transactions but may also be necessary for the context of a group practice dissolution, divorce or estate, and gift tax planning.
The goal is to provide both owners and third parties with a fair value of the practice. It is also usually a requirement for a purchasing doctor to secure bank financing.
We have appraised thousands of practices nationwide, and our techniques have become recognized as industry standards.
OUR PRACTICE TRANSITION PROCESS
After initial discussions to determine your needs, we send you our appraisal questionnaire. You return the completed questionnaire along with any requested financial information, tax returns, etc. We then prepare the appraisal, getting additional input from you and your accountant along the way, and send you the completed appraisal. This usually takes about four weeks from the time we receive the requested documentation.
This appraisal is a powerful tool. Not only will it set forth your practice value and explain why the purchase is affordable to the buyer, it will also contain a roadmap for structuring the transition, including allocation of the purchase price, the method of financing, and the expected tax consequences for each party.
DENTAL BROKERAGE SERVICES
If you are considering buying or selling a dental practice, Collier & Associates offers practice brokerage services through our partnering firm, Collier Dental Connections, LLC. You may contact us today, and we will gladly get the process started and ensure that we find the right fit for you.
ARE YOU READY TO TAKE THE NEXT STEP? WE’RE READY TO ASSIST.
Whether you are a doctor seeking to buy a new practice or sell your practice, we’ll provide you with top-notch advisory services and guidance through every step of the process.
SEARCH PRACTICE LISTINGS AND OPPORTUNITIES
We connect Buyers and Sellers through our Collier Connections website. For over a half-century, C&A has helped thousands of doctors in their Practice Transition transactions. Collier Connections is a "FREE to join resource" that our team developed to aid practitioners like you in your search for a new partnership, associateship, or to buy or sell your practice. The right opportunity for your future could be closer than you think. Upon registration, you may post and search our database 24 hours a day, 7 days a week.
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Talk to Collier & Associates Today
(216) 765-1199
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