Why Dental Direct?
Whether you are retiring, relocating, going to specialty school or making a career change, there are a lot of good reasons for using DentalDirect for your dental practice transition. In the following article we'll discuss some of them from the seller's perspective. If you'd like to "walk a mile" in the buyer's shoes, read the article "Why DentalDirect?" under the Buying a Practice drop down menu to get a feel for the many advantages our site offers your prospective buyers.
YOUR CONFIDENTIAL INFORMATION IS KEPT SAFE. At DentalDirect we know that the privacy of your dental practice sale is a huge consideration. It is the #1 reason dentists have signed over 10% of their dental practices to brokers in the past. But how do brokers protect your information? They collect contact information from prospective buyers and have them sign Non-Disclosure Agreements before they provide them with any information that is confidential. That's it. DentalDirect does exactly the same thing. Buyers register on our site by providing us with contact information along with their school of graduation and state license #, sign our Non-Disclosure, Non- Circumvention, Non-Solicitation and Confidentiality Agreement and agree to abide by our Terms of Service before they are given a password to access your Practice Portfolio.
NO BROKERAGE COMMISSION. DentalDirect does not charge a brokerage commission. We charge a low flat fee that is the same regardless of the size of your dental practice. Dental brokers typically charge an average of 10% of the sales price of your practice which means the larger your dental practice, the more you'll pay. The process of selling a practice does not become more complicated as it increases in size so why should you pay a penalty for being successful? The answer is that you shouldn't. Also consider that you must pay for legal and accounting services over and above the 10% a broker will charge you and you can see how a large percentage of your profits can disappear rather quickly. On an average size dental practice sale, DentalDirect could easily save you $50,000.00 or more in addition to the many other advantages you gain when you use our site.
EASY PRACTICE PORTFOLIO CREATION. Your entire Portfolio is created by simply answering questions and uploading reports. Reports can be uploaded as PDFs (recommended) or Excel files. The process is the same as attaching a document to an email. In about an hour, you can create a comprehensive Practice Portfolio and publish it to our searchable national database.
DENTAL DIRECT IS OPEN 24/7 FOR YOUR BUYERS. Once your Practice Portfolio is published, it can be viewed 24/7 by any buyer who is a registered user on our site. Even new visitors can register and be looking at your practice in a few minutes, not days. They don't have to call and wait to be contacted by a broker. Everything is done in a highly secure and efficient manner online. Buyers see your generic listing and click for more information which leads them through a brief registration process. They read and sign the Non-Disclosure Agreement, agree to the Terms of Service and are sent a password, user name and email verification link which allows them to open your Portfolio. The whole process is secure and fast. Then, if a buyer wants to see your practice in person they simply send an email to the address you have provided on your Contact Page.
WE ARE A NATIONAL SITE. Many, if not most of your buyers will be from out of state. DentalDirect allows buyers from anywhere to search in any geographic area for practices. But unlike the traditional system, they are not funnelled to a local broker who then works with them from across the country. Instead, they are able to see your complete practice online and can then contact you directly. Because they don't have to deal with any salesmen or brokers, buyers who contact you will be the ones who are sincerely interested in you and your practice. You won't waste your nights and weekends showing your practice to buyers who know little or nothing about your practice. When you use DentalDirect, you will show your practice to buyers who have, in essence, already seen it and like it. This process saves time and effort for everyone.
WE ELIMINATE THE MIDDLEMAN. Since the need for an attorney and accountant are not eliminated by using a broker, you may wonder what a dental broker actually is paid for. The answer is that they serve 2 primary functions. They protect the confidentiality of your information by collecting signed Non-Disclosure Agreements before they dispense your private information and they give you advice as needed throughout the process. The difference between using DentalDirect and a traditional dental broker may be likened to the difference between attending a seminar and reading a book. The seminar may cost $2000.00 dollars and the book $20.00 but the information is the same. Plus you can pick the book up and read it anytime you like.
DENTAL DIRECT IS BETTER FOR BUYERS. Buyers can look at your practice without any pressure from a salesman. When they contact you, they've already seen your practice in exactly the way that you wanted it presented. Therefore you get to spend your time working with prospects who are truly interested. Plus buyers know that they are looking at a practice without a built in 10% commission which makes your practice that much more attractive.
YOU MANAGE YOUR LISTING. You can manage and update your listing as you see fit using your DentalDirect Management Panel. Our Analytics let you see how many total and unique views your dental practice has had from potential buyers. You can upload new pictures of your dental practice. You can update your numbers every month (which most buyers want to see). Any change you want to make to your listing is as close as your computer and it's quick and easy. Try doing that with a broker!
AMAZING DEMOGRAPHICS. Every listing comes with full Demographics for your location for a 1, 3 and 5 mile radius (if you choose to include them). Potential buyers can, with one click, see statistics that display trends for population, age, education, employment, families, transportation, housing, income, spending and more.
NO LOCKED IN CONTRACTS. At DentalDirect we want you to have complete control of your listing. When you sign a contract with a broker, you are typically obligated for one full year minimum. If you don't like the way they handle your practice, that's too bad. You've got a year to wait it out. At DentalDirect you can list your practice for any length of time you like. You can list monthly or until it sells and you can publish and unpublish to the database as you see fit. If you decide not to sell for some reason, you can do that without paying a huge penalty because you aren't locked into any contracts. DentalDirect was created by a dentist and this entire site was created to serve dentists and be useful to them. We don't want you locked into anything with which you are not completely comfortable.
SELL YOUR PRACTICE SOONER. When you use dental direct, you don't pay the 10% brokers commission. Therefore you can afford to price your practice less than comparable brokered practices and still make a higher profit. This puts you at a distinct advantage when it comes to selling your practice. If you are in a hurry to sell, you can afford to price your practice 9-10% under market and still make the same profit as you would had you used a broker.
We hope this article has been useful to you and we invite you to review the rest of the site. If you have any questions, please send them to Questions@DentalDirectSales.com.
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