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 even feels like trying to put a puzzle together with missing pieces. This is often due to poor advice, lack of direction or both. The solutions and clarity needed are found through expert advice. This is referred to as solid strategy. Understanding the relevance of the right team of advisors, and their key roles, can set buyers on a path toward confidently navigating the acquisition process and making informed decisions. BUYERS NEED to KNOW- Accountability is your ultimate responsibility.
Consider ResourcesLet’s take resources into consideration. This can help us 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 seller's practice. They present 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.
Team of Trusted AdvisorsIt is to the benefit of buyers to engage a Team of Trusted Advisors during the acquisition/due diligence phase. This team includes the following:
- The Lender
- The Buyers Transition Advocate ( MaK Concepts)
- The Dental CPA
- The Dental Attorney