Practice Transition Services
For Sellers
Seller Services
Choose from the accordions below to learn more about each of our practice transition seller service offerings/capabilities.
The practice valuation option provides you with detailed documentation concerning the current market value of the practice. Our valuation provides you a more formal presentation to a potential buyer or your advisors concerning what the current market value is for your practice. Our team reviews a broad range of practice information and compiles a comprehensive appraisal package regarding the value of your practice.
Included is a complete narrative that discusses factors about your practice that impacts the value as well as a complete cash flow analysis and inventory of equipment and technology. The results from this analysis will also be the cornerstone for an exit strategy customized to your goals.
If you have an Associate or ready buyer ready to start the purchase process, we will be the objective third party to guide you through the maze of issues. Over the years we have picked up the pieces to many “transitions gone bad” which have led to associate abandonment, lost sale or partnership breakups. Many of these breakups have led to personal agony, financial stress, soured relationships (the equivalent of divorce), and staff turnover.
Peak Practice Transitions, LLC has guided many partners through the process of buy-ins, buy-outs, and BREAK ups. We understand that every practice transition is unique and must be customized for the specific needs of both parties. We will guide you through the process and provide advice and reason along the way to make the process as stress-free as possible.
Our process defines goals and develops written agreements that frame the future relationship.
Sell it yourself, Peak’s Facilitated program allows you (the owner) to create your own exit strategy and take advantage of your built-in knowledge of the practice to facilitate the negotiation and sale with the support and experience of the team at Peak.
You are provided complimentary discussions with our transition consultants to outline and support your Exit strategy or transition. We then prepare a Practice Data File (an organized compilation of critical practice information) which includes a market valuation and cash-flow analysis. This provides detailed information about the “True Economic Benefit” of the practice.
Peak then starts marketing your practice using a variety of tools. Our marketing campaign is not only local but includes nationwide exposure for your opportunity. Potential buyers will contact you directly about your practice.
In addition to marketing your practice, a detailed buyer profile is provided to assist in the selection process as well as a series of checklists that guide you through each milestone of the process.
Our transition team will work with you to maximize your confidentiality and the value you receive from your sale. Our services also reduce the headaches and stress associated with the sales process. Ultimately, we work for win-win solutions that meet the needs of you and the buyer.
Our process includes but is not limited to:
- Assessment
- Valuation of Practice
- Marketing Plan
- Maintaining Full Confidentiality
- Execution and Monitoring of Plan
- Buyer/Seller Matching
- Offer Creation, Advice and Decision
- Finalizing the Sale – Lending Preparation & Assistance
- Legal/Closing – A Peak Attorney Will Draft All Documents
- Post-Closing – Management Support for the New Owner
Our work is not done with closing as we work with the buyers on a smooth transition into the new practice. This includes staff meetings, writing a policy manual, job descriptions, and a minimum of three months of ongoing practice management support, so you don’t have to!
Peak Practice Transitions’ uses a customized process that analyzes more than twenty value components which contribute a significant impact on the value of your practice. These are the factors that sophisticated buyers evaluate when determining whether or not to buy the practice.
After determining the current value of the practice, each value component is analyzed in terms of its impact on the current and future valuation. We then prioritize the importance of each component based on the owner’s personal goals and objectives. This consultative process allows Peak to identify those value enhancement opportunities that will have the greatest impact on the practice value.
The Maximum Value Plan Involves Five Steps
- Clarify and prioritize the practice owner’s goals & objectives.
- Determine the current value of the practice.
- Analyze all value component and drivers for the current market.
- Develop a plan to continue strengths and address weaknesses in the timeframe of the owner.
- Establish and monitor metrics on a timeframe customized to the practice owner’s needs.
Peak’s team of consultants has a broad level of experience in the sales and valuations of healthcare practices. We will develop a plan for the owner to maximize the value of their practice for when the time is right to sell.
Contact us today to establish a win-win solution for your practice transition. We actively serve clients though out the Midwest and our reach has included clients in most states.
The buyer services at Peak Transitions were everything we needed. The process of purchasing a practice was much more complex than we had anticipated, and the team at Peak Transitions guided us every step of the way, and through every hurdle that presented itself; before, during and after the practice transition. We literally couldn’t have done it without them!
The Peak Transition team’s superlative knowledge in practice transition & responsiveness exceeded my excitations. They handled every step in the process with professionalism and sensitivity, and the office staff provided the same level of excellent service. It was pleasure working with all of them.
I have the ultimate respect for you and what you have accomplished and the way you did it. With integrity tenacity and the guts to do things the right way for my son and I. One of my favorite quotes is from Ben Franklin. “He who seeks only his own council has a fool for a client”. Try to argue with that one!!! My advice to all your clients present and future is to listen to your sage wisdom. One of your greatest strengths is that you listen and have the brain to store information which you bring up in varying situations. It is factual experiential information which is of immense value.
Dear Peak Transition team, I wish to thank all of you for the very professional & successful way in which you handled the sale of my practice. Glenn & Phil definitely went “above and beyond” in making what could have been a very stressful event into something that placed smiles on the faces of both the buyer and myself.
Peak Transitions helped me tremendously in the transition/sale of my practice. I interviewed several firms before selecting [Peak Practice Transitions]. I immediately was impressed by their professionalism and comprehensive knowledge of the dental business. I appreciated their persistence in helping me find the best dentist for my practice and most importantly my patients. They continually worked to make the process as painless as possible in this most complex time in my life. Thank you very much.
The Peak team treated me like family while they walked me through all the issues with the sale of my practice… their advice maximized my practices value. Thanks for all your help.
Phil, I just wanted to say a tremendous thanks to you and your team for all you have done for my dad and I. You have literally now allowed me the opportunity to live my dream and no amount of money can buy or replace that. I have enjoyed the working journey we have had over these months and have been able to learn so much thanks to you. The future definitely remains very bright and I want to thank you from a business standpoint, but most importantly from a personal standpoint. I look forward to a mutually beneficial working relationship with you and the rest of your company as well. Sincere thank you!
Last year with the help of Phil Stark and the team at Peak Practice Transitions, I was able to successfully (sell) merge my practice. With PPT’s organized approach and attention to detail, everything fell into place at the right time. I ’m now working for a great guy (the new owner), and I still get to see those wonderful patients who have been coming to me for over 30 years! I’m enjoying life more and working less.
Dental school could never have prepared me for the intricacies of purchasing a dental practice. The team at Peak Transitions tirelessly guided me through everything involved with purchasing and running a successful dental practice. From understanding value and making the right purchase offer, deciphering loan documents and the underwriter’s phone call; to reviewing charts and verifying practice data, educating me on effective hiring & management practices of a dental team, to crafting a well-worded patient letter; understanding the practice purchase agreement, and more. The assistance & support of Phil and the team at Peak Transitions was invaluable.
Whether you're looking to buy a healthcare related practice or sell your practice that you've worked hard to build our expert business transition consultants are here to help you through each step of the process, while providing a win-win solution that meet the needs of both the seller and the buyer.
THINKING ABOUT/ READY TO SELL YOUR PRACTICE?
Contact us today and let us help you complete your next practice sale with the highest-level of support from our team.