Practice for sale – £1.00 – is the bubble bursting?
I refer you to Colin Campbell’s blog yesterday (and don’t forget to scroll down and read the subsequent comments added by myself, Colin and Steve Hudson):
Possibly one of the most important blog posts you will read this year?
If (and only if) the alleged situation is accurate, it signifies the beginning of that event that we have all been speculating upon for years:
the bubble bursting
That represents a pivotal moment in UK dentistry – a moment where the rules begin to change and individual owners have to respond in real time.
A good time to be in cash and a bad time to have high levels of debt.
A good time to recruit apprentice dentists and a bad time to pay 50%.
A good time to have great internal marketing systems and a bad time to be throwing money at external marketing.
A good time to buy a practice (maybe in about 6 -12 months from now) and a bad time to sell.
If you are considering a practice sale – you had better get your skates on.
If you are considering a practice purchase – it may be a good time to put the brakes on and see how things go.
Is winter coming?