Don’t Pay 10% Commissions When You Sell. Click HERE to find out how…
The idea of giving 10% of the sale of your practice to someone sounds like a tough pill to swallow. So DON’T: if you engage DMC LLP to represent you in the sale of your practice, you only have to pay our normal fixed fees. No commission! No finders fee! No success fees! No hidden fees! We’ve sold a number of practices on www.DentalPlace.ca already (some for over 130% of appraised) and we’re saving dentists ~$465,000 in commissions so far!
And let me tell you something else: there are others out there – namely consultants and accountants – who will tell you that THEY can sell your practice and find you a buyer. Yes, there’s a fee involved. We have seen it range from 7% of the purchase price to a flat finder or success fee (e.g. $30,000).
But here’s the kicker: only lawyers and real estate sales persons can engage in trading in a dental practice under the Real Estate and Business Brokers Act, 2002. That right: it is illegal for anyone else to assist you in selling your dental practice for a percentage or success / finders fee.
Finally, ask yourself: why would you want or need anyone other than a law firm to represent you in the sale? They can take care of your incorporation (to take advantage of the lifetime capital gains exemption), help put your team members on contract, deal with your lease to make sure it will be acceptable to a buyer, market your practice online (on this website and www.DentalPlace.ca) and offline (e.g. open houses, being present during due diligence, etc.), and actually put the deal together and follow it through to completion. Click here and here to learn more about what we do for sellers.
After it’s done, we can actually make sure other things are taken care of for you legally as well, such as completing your Wills and Powers of Attorney. Can anyone else do all of these things? No.
If I were in your shoes, I’d consider it a no-brainer: if you deal with us, it’s a 1 stop shop. You get educated, you get protected, and you save thousands of dollars. And if you want to know what other dentists have said about dealing with us, just click here to read close to 50 testimonials (and growing).