by Eric J. Gall


A four-clinician dental practice in Florida was about to accept a $4.7 million offer for their practice from a large Dental Service Organization (DSO).

I sold it for $7.4 million instead.

Here’s how the story unfolded:

When presented with the $4.7 million offer, one of the co-owners of the practice said, "Let's sign on the dotted line, get the money, and be done with it."

The other co-owner replied, "How about we get a second opinion?"

So, they walked across the parking lot to speak with their CPA firm, who then referred them to me.

I completed a comprehensive review of the practice, including:

· Financials

· Equipment

· Building and lease

· SWOT analysis

It became incredibly obvious that $4.7 million significantly undervalued the practice, especially given the market conditions at the time. I told the owners I could get them far more than $4.7 million, more than enough to justify my commission.

The owners agreed on one condition: "The large DSO came to us first. They deserve the first shot."

Fair enough.

So, we prepared the practice for sale and approached the large DSO again, along with several other regional DSOs.

The large DSO came back with a revised offer of $5.3 million. $600,000 more for the exact same practice!

The owners were ready to celebrate. But I told them to hold off.

A month later, a regional DSO from Florida's east coast came back to us with an offer of a whopping $7.4 million.

The owners happily accepted.

Now imagine if they'd signed the first offer.

They would've walked away from an extra $2.7 million simply because they assumed the first offer was fair.

Spending a few hundred thousand dollars on commission to make an extra $2.7 million is one of the best decisions my clients ever made.

That's why, if you're thinking about selling your business, always get a second opinion from someone who understands business transactions and the market.


You can reach Eric Gall at 239.738.6227 or [email protected]