“Need to Know” from a Buyers Transition Advocate
As a Transition Specialist, AKA Buyers Transition Advocate at MaK Concepts, we recognize that the acquisition phase for buyers can be quite frankly, clear as mud. At times it may even feels like trying to put a puzzle together with missing pieces. This can be due to poor advice, lack of direction or both. The solutions and clarity needed are found through expert advice, which is referred to as, solid strategy. Understanding the relevance of the right team of advisors, and their key roles can set buyers confidently navigating the acquisition process to making an informed decision. BUYERS NEED to KNOW- Accountability is your ultimate responsibility.
Let’s take resources into consideration to determine why it’s critical to understand the acquisition phase, and which advisor’s buyers should enlist, always! We would be remiss if we didn’t clarify one specific title. Transition Consultant is used heavily in the dental acquisition world and generally describes brokers involved in the transaction phase. These Brokers/Transition Consultants are valuable in representing the sellers practice presenting pertinent information to support market value, goodwill, assets, and details of the financials for disclosure, to name a few basics in their scope of service. BUYERS NEED to KNOW- This is Seller representation.
Buyers should engage a Team of Trusted Advisors for during the acquisition/due diligence phase
- The Lender
- The Buyers Transition Advocate ( MaK Concepts)
- The Dental CPA
- The Dental Attorney
While some buyers will engage the services of the entire team listed above, some will mistakenly omit key advisors. Transitions are truly a specialized niche, and experience dedicated to this process is invaluable. Consider the unique service scope of the Buyers Transition Advocate (MaK Concepts )who represents only the buyer and performs a Comprehensive Practice Evaluation which includes; production and collections trending, goodwill offer in team and patients, key procedures review, active patient base confirmation, hygiene value and possible missed treatment, insurance analytics and when indicated, DELTA Premier analysis data when Delta PPO is NOT contracted, and much more…. The buyers Transition Advocate does NOT use this process to find a reason for the buyer NOT to purchase, rather illustrates a plan of understanding and process map for the buyer. In other words, this is the ultimate in-depth look at the practice management and operation on the buyer’s behalf to perform due diligence effectively. The Buyers Transition Advocate becomes the representation necessary to ensure the buyer has another set of eyes, and an expert with extensive experience in this niche transition business. BUYERS NEED TO KNOW-This is Buyer representation.