Here’s what a SELLING DENTIST just said about using DMC LLP to sell their practice through www.DentalPlace.ca:
“If you are reading this testimonial, you have probably read dozens of accolades written about Michael, David, Ben and the whole crew at DMC Law. Well, they are all true.
As a boomer who was ready to sell their practice after 45 years of being in business, I was quite sceptical of their pitch at first. Many of my friends have complained about being “raped” by their lawyers and brokers–even the ones that sold to their kids.
Believe me, you won’t be sorry about using this firm. My first contact at the firm was with David but my sale was handled mostly by Michael and Ben. Michael was straight with me right from the first. He pretty much knew what we would get. He set up the open house, bidding and interviews quickly and efficiently. We had issues with the purchaser, his lawyer and in the end, my landlord but through all of it, Michael was available and on top of it at all times. I mean all times. We spoke or emailed nights, weekends, while they were giving seminars and even while they were on holiday. I had more phone calls and emails at the office in that 4 month stretch than in the last 10 years. When faced with a critical decision Michael would offer advice but was ready to deal with any choice that I could have made.
Like all of you, I like to think that our fees reflect what we do and that we give our clients value for their money.
You will never regret paying these guys for their services. They will earn it.
Again thanks Michael, David, Ljubica, Jonathan, Ben, Julie.”
You can read all of our dentist testimonials HERE.
We’ve just looked back at the last 50 transactions we’ve been involved with (for buyers and sellers) and here’s what we learned:
Please don’t rely upon the above if you’re looking to buy or sell a specific practice. This data came from transactions throughout Ontario over the past many months and things change over time. If you want specific insights into a particular practice, contact DMC LLP.
BACK BY POPULAR DEMAND… FREE PRIVATE DINNER SEMINARS ON SELLING YOUR PRACTICE!
Looking to get educated, protected, and make / save money when you sell your practice? Thinking of selling NOW or IN THE NEXT 5 Years? Did you know the following will cost you tens or hundreds of thousands of dollars when you sell?
Commissions and real estate salespeople are bad for your wealth. Thankfully, since 2015, we have saved Ontario dentists over $1.2-million in commissions while achieving high returns and minimizing legal risks.
If you want to learn how to clean up your practice NOW so you don’t pay for it later, join us for a FREE (no obligation) private dinner seminar. The details are as follows:
|Thursday, October 6, 2016||Oakville||Oliver’s|
|Tuesday, October 18, 2016||Mississauga||La Castile|
|Thursday, October 20, 2016||Peterborough||Rare|
|Thursday, October 27, 2016||Burlington||Lord Nelson|
|Thursday, November 3, 2016||Vaughan||Octagon|
|Thursday, November 10, 2016||Brampton||Aria|
|Thursday, November 17, 2016||Toronto||Il Mulino|
|Thursday, November 24, 2016||Ottawa||Shore Club|
|Thursday, December 1, 2016||Toronto||Opus|
|Thursday, December 8, 2016||Toronto||George|
You will receive an RCDSO Core 3 Certificate of Completion, a FREE copy of our eBook, “Ontario Dental Law”, and a bottle of premium olive oil (our gift to you). Space is limited. Please RSVP ASAP by contacting me (Michael Carabash) at firstname.lastname@example.org or 647.680.9530. P.S. This is the only seminar in your area that will show you how to make / save a lot of money, gain knowledge, and stay protected as you think about transitioning now or in the near future.
History of DentalPlace.ca
It started in November 2014. We officially launched www.DentalPlace.ca. We had some dentist clients who wanted us to sell their practice privately to other dentists we knew. They didn’t want to pay 10% commissions to a broker. They would say funny things to us, like “Brokers are bad for your wealth” and “We don’t want to finance their dreams” and “Why should I give 10% of my life’s work to them”. So we set up a website (www.DentalPlace.ca) that promoted the sale of dental practices.
At first, there was a lot of backlash. Others would say all sorts of negative things – like we are ‘bad’ people, we won’t be able to sell a practice for the right price, we don’t have the experience, we don’t have any listings, etc. Sometimes, they would say ironic things like “Lawyers selling dental practices is a conflict of interest”. Given that we don’t charge a commission, I think that’s the kettle calling the pot black! Well, they were wrong on all fronts…
Almost 2 years later, and we’ve sold a whole whack of dental practices. We charge fixed fees. No commissions. We market the hell out of dental practices (online and offline, through open houses, etc.). We have access to THOUSANDS of dentists, many of whom are ACTIVELY looking to purchase a practice and are serious buyers. We streamlined the whole process to make it more transparent to seller and buyer. To date, we’ve saved dentists over $1.2-million in commissions, based on the practices we’ve sold and conditionally sold. And since we are helping dentists from the beginning to transition, we are able to foresee and avoid many legal pitfalls – like not having a properly set up corporation, not having staff on contract, having a bad lease, etc. These are things that real estate sales people CANNOT do and shouldn’t be dabbling in.
Why We Love What We Do
We love helping people. Sharing our knowledge. Saving our dentist clients tens of thousands of dollars – so they can buy that new Tesla P100D; upgrade their home; or go on more vacations after they retire. Our passion for helping goes beyond our clients too: that’s why we do things like get involved in organizing an annual dental outreach program in Jamaica. Or raising money for Holland Bloorview through the Toronto Academy of Dentistry annual charity golf tournament. What’s the point of life unless you are serving others? That’s what we hope our legacy is going to be… to be the little guy that stands up and makes a difference by helping others – be they dentists in Ontario or impoverished Jamaicans who can’t afford to see a dentist for a cleaning.
DentalPlace.ca was launched on November 1, 2014 – approximately 1 year ago. We didn’t account for the splash it would have in shaking up the professional dental industry! It was the talk of the town at last year’s Winter Clinic among dental professionals and real estate salespeople. Indeed, DentalPlace.ca and DMC LLP became instantly disliked by real estate salespeople, but loved by dentists. I think that will be our new slogan:
Disliked by real estate salespeople.
Loved by dentists.
By providing an alternative, we disrupted a model that had gone undisturbed for decades. Some dentists had simply come to the conclusion that they SHOULD be paying 10% of the purchase price (plus HST) to a real estate salesperson to help them find a buyer. But why? Even in residential real estate, it’s not that much. Plus, with the advent of the internet, and us being in a seller’s marketplace, why would anyone NEED to pay that amount of money to any real estate salesperson to help them find a buyer? We thought we could offer a better model. So we did… for a fixed fee (based on the unique legal and marketing services your require), we would take care of preparing, marketing, and selling your practice. That was our “Transition Without Commission” message, which we spread throughout Ontario. We told dentists that we were there to help them get educated, get protected, and make / save the most money.
So, after 1 year, where are we at? Well, we’ve managed to list up to 8 practices (not bad for our first year) and we’ve sold or conditionally sold 6 of them (the remaining 2 are brand new). Here’s the best part: based on those 5 practices we’ve sold / conditionally sold, we’re saving dentists a whopping $465,000 in commissions! That’s something we are very proud of.
What about pricing? Well, of the practices we’ve marketed and sold / conditionally sold, the seller was able to achieve a selling price of over 130% of appraised. What I want to convey here though is this: the selling price depends on the market in light of all the surrounding circumstances.
Worth mentioning is that, over the course of the past year, we’ve heard all sorts of strange things happen from real estate salespeople – ranging from Letters of Intent not being accepted, no equipment inspections, no changes to the purchase price despite due diligence not being completed. And, obviously, they are discouraging dentists from using DMC LLP to educate, protect, and advance their interests. It’s quite funny, actually. But I digress…
So what’s on the horizon? More listings + better deals + more savings = happy dentists 😉
Happy Birthday DentalPlace.ca and Ontario sellers everywhere!
This has been a long-time in the making… On October 16 / 17, we packed a bus full of dentists to go from Toronto to Niagara Falls to enjoy some great food, wine, and company. In my humble opinion: it was a great success. Everyone enjoyed themselves and I believe new friendships were formed. We visited 4 wineries (Southbrook Vineywards, Pelleteri winery, Trius Winery, Peller Estates) and had a sumptuous five-course meal at Peller Estates before heading to the Casino and then retiring to the Hilton.
FYI, the participants included: Michael Carabash, David Mayzel, Dr. Hans Viergever and Barb Viergever, Dr. Norman Falk and Harriet Falk, Dr. Arthur Train and Ruth Train, Dr. Bob Lubin and Katie Lubin, Dr. Paul Shutsa and Dr. Diane Smith, Dr. Larry Rotman and Shelley Rotman, Dr. Dagmar Justa, Dr. Seema Steffens and Nelson Steffens, Dr. Cesare Franzoi and Deborah Franzoi, Dr. Arsalan Poorsin and Melody Shahidi, Dr. Deborah Williams and Mark Coombs, Dr. Gintare Sungaila and Oscar Valverde, Dr. Marija Ilic and Zvonko Ilic, Dr. Minola Diacicov-Negrini and Sorin Diacicov-Negrini, and Danielle Martin.
Here are some pics… (FYI: notice something in the second last picture? That’s right… “Team Triple P” lives on).
Some might even dare to say: “Now That’s a Group of Internationally Good-Looking People!”
David Mayzel is your legal risk manager. He is a trained courtroom lawyer and has spent many years resolving disputes both in and out of court. He knows how to prepare documents and execute transactions in a way that avoids or mitigates legal risks. He can be reached at 416.528.5280. or email@example.com.
Michael Carabash is your business law adviser. He is an entrepreneur at heart who helps you see the big legal picture. He drafts clear and effective agreements that protect your rights while promoting your interests. He can be reached at 647.680.9530. or firstname.lastname@example.org.
Ljubica Durlovska is your transition lawyer. She helps you with staff and associates, maintaining your corporation, and other business matters. She can be reached at 416.443.9280, extension 206 or email@example.com.
Jonathan Borrelli is your employment lawyer. He helps you with staff and associates matters, including hirings, terminations, switching staff to written contracts and resolving disputes. He can be reached at 416.443.9280, extension 204 or firstname.lastname@example.org.
Benjamin Kong is an experienced business law clerk. He assists David and Michael with corporate matters and purchase / sale transactions. He can be reached at 416.443.9280, extension 207 or email@example.com.
Julie Whitehouse is an experienced business law clerk. She assists David and Michael with corporate matters and purchase / sale transactions. She can be reached at 416.443.9280, extension 203 or firstname.lastname@example.org.
David, Michael, Ljubica, Jonathan, Ben and Julie are a truly dynamic team. Their diverse knowledge, skills, and experiences will help you get the best deal possible while promoting your interests and protecting your rights. You can read dentist testimonials here.