Dental Business Transactions Podcast: Recent Episodes
Lily Head Dental Practice Sales
Gives you a rare insight into the professional and personal lives of many of the most respected Dentists and Dental professionals in the UK today. Hosting every conversation is Lily Head, the founder of Lily Head Dental Practice Sales and Lily Head Finance.
In this episode Abi Greenhough is joined by Leading exponent of Corporate Social Responsibility , Community Involvement and Environmental Consciousness Mark Topley.
Mark explains how CSR has changed in the public consciousness over the last twenty years and how fringe issues have now become mainstream.
77% of consumers are influenced by a businesses environmental credentials. These are the patients and employees of dental practices. The challenge dental practices have in implementing CSR policies is knowing where to start and how to develop the consistency to get traction within their business.
Mark has just launched his innovative on line platform 'Go Practice Green' specifically to help dental practices contribute to sustainability efforts which their patients and employees demand. We recommend you consider this if you want to achieve comprehensive sustainability with a clear focus at your dental practice.
Watch the discussion here on YouTube
#LilyHead #Dentists
Abi Greenhough welcomes our Commercial Director Chris Mayor to the Dental Business Transactions podcast.
They discuss the dental practice M&A market trends Lily Head Dental Practice Sales and their partners are seeing in the market over the last 6 months of 2023 and how 2024 is shaping up.
Reena Popat is on the podcast to talk about her journey from being told at school that she would never be a lawyer to founding Carter Bond Solicitors and Carter Bond Wills in 2014.
In this episode Reena talks about how in her early career she did not set out to become a business leader but was motivated by the fact she wanted to do things differently. Reena discusses her most important lessons as a lawyer and business leader when growing from a team of 3 to a team of 32.
Reena & Abi talk about how you learn the skills to go from an employee to a business owner. As well as strategies Reena adopts to make sure everyone is rowing in the same direction.
You can also see the Podcast on YouTube: https://youtu.be/K6z37xlFFUM
Oliver Field is a financial planner at Chester Rose. Oliver has a good number of clients who are dentists and he is focused on helping them make the best use of their money.
In this episode we talk to Oli a few days after the first budget in the UK in over 500 days about initiatives the Chancellor of the Exchequer announced to incentivise dentists and principal dentists to stay working for longer.
Louis Mackenzie has been a General Dentist since 1986. Louis is the Head Dental Officer at Denplan as well as a clinical lecturer at the Birmingham Dental school and Kings College London.
Louis delivers postgraduate lectures nationally and internationally on direct and indirect restorative techniques, minimally invasive dentistry and clinical photography and runs a series of popular hands-on courses. He is also a member of Dental Update’s editorial board.
In this episode Louis talks about the satisfaction he gets from not only being a dentist, but now being taught and mentored by his own students. the importance of having a ‘meaningful purpose outside of dentistry. Why dentists are going private. and the emotional dilemma some dentists face when considering their exit / retirement from the profession.
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Martin How is the MD of Lily Head Finance. Martin has been working in the banking sector or in conjunction with the banking sector since 1992. Navigating the financial markets and managing the major disruptions to the financial markets over the last few decades are all experiences Martin draws on when working with dentists.
In this episode Martin talks to Abi Greenhough, the MD of Lily Head Dental Practice Sales about the opportunities for dentists in the context of the energy crisis and double digit inflation.
They discuss the merits of fixed rate and variable rate lending. How buyers and sellers can mitigate the current upheaval in the financial markets and wider economy. How borrowing agreements can be broken and re-negotiated and the consequences of getting a decline from a bank.
Martin also does some really interesting myth busting.
Mark is a highly I am a highly experienced Programme and Project Management Professional and Operations Leader whose career has focused on helping others.
Mark began his career as a school teacher. Transitioning to becoming a pioneer in delivering CSR (Corporate Sustainability and Responsibility) strategies internationally, on behalf of start up’s, government bodies and blue-chip corporates.
Mark is Director of Purpose Driven Business ; Chief Executive Officer of Bridge2Aid UK (from 2010 to date); General Director: UK and Tanzania with Bridge2Aid from 2005 to 2009 and was Director of Bridge2Aid Australia for two years.
At ‘Purpose Driven Business Mark helps companies to successfully integrate best practice Environmental, Social and Governance (ESG) into their organisations. He is both a qualified educator and a Fellow of the Institute of Corporate Responsibility and Sustainability Professionals.
Purpose Driven Business Ltd is a cross sector consultancy practice working primarily in consumer healthcare and education. It is widely recognised across the UK dental industry as the leading authority on ESG & CSR.
This episode provides great insight for Dental Principals on what their staff are likely to expect from them as business leaders and the actual business they work in.
Mark supports people through the ‘Great Boss Academy’ and the soon to launch ‘Responsible Dentistry Club.
Watch this episode on YouTube: https://youtu.be/kgdFKgsATw4
Eddie Crouch has been Chair of the British Dental Association Principal Executive Committee since September 2020. Before that, he served as deputy chair between 2014 and 2020 and past Chair of Central Counties Branch of the British Dental Association. He works in two practices in Birmingham and is Vice Chair of the Birmingham Local Dental Committee. Eddie is passionate about representing the interests of NHS Dental providers and NHS Patients. He is often interviewed for his opinions on national TV and radio.
In this episode Eddie offers an informed insight into the challenges facing patients who cannot get access to NHS dentistry and the Government policies which are driving dentists to abandon or minimise their exposure to NHS dentistry.
Abi Greenhough talks about ways purchasers and existing principals of dental practices are trying to mitigate the fact that providing NHS dentistry can be a drag on profitability.
Eddie is pushing the government to come clean on what their strategy and budgets are for the provision of NHS dentistry.
This week’s guest is Iain Dalton. Iain is a founding partner of Elmvia Practice Sales in Australia. Iain leads sales and strategy for the company. One of the most well-respected figures in the industry, Iain has built the company on the back of formidable sales skills and reputation for integrity and straight-talking honesty. With a directorship background in dental recruitment, corporate sports sales and healthcare, he is also the director of industry recruitment leader Elmvia Dental.
Originally from the UK, Iain is a passionate soccer player and coach. He lives in the Sunshine Coast with his wife and relaxes with a game of golf.
Iain’s daughter Isobel play has played football all over the world and is currently in the FA Women’s Championship.
In this episode Iain talks about the dental practice sales market in Australia and how it applies to UK dentists looking to relocate. And how it is important to be humble, flexible and patient when entering a market on the other side of the world.
Watch all our episodes on YouTube: https://bit.ly/3SDi3M8
Abi Greenhough is the Managing Director of Lily Head Dental Practice Sales. Abi joined the business in 2015 and was appointed to the board in 2018.
Abi is one of the UK’s most respected experts on valuing dental practices, identifying ways of improving valuations and negotiating the best outcomes for her clients who wish to sell.
Abi and her team have completed on individual and group dental practice transactions in every region and every country in the UK.
Abi is an experienced Occupational Therapist who spent 8 years working in the NHS. She then decided to turn the skills she has for helping people overcome emotional, social and physical challenges to a commercial environment.
Abi is also Director of Lily Head Finance which is regulated by the FCA.
During this conversation Abi talks about how the resurgence in transactional activity in 2021 continues in 2022. That the number of new buyers entering the market is running at 18%. Considers the headwinds the industry is facing and strategies to mitigate them. Popularity of squats and the fact that Lily Head Finance is much more able to get funding for them. Multiples of EBITDA being paid by buyers. Predictions for the next 12 months. Changes taking place in Wales, Corporate activity and advice for dentists considering an exit.
Simon Chard is an award-winning cosmetic dentist, international lecturer and the President elect of the British Academy of Cosmetic Dentistry. Simon co-owns the highly successful Rothley Lodge Dental Practice with his wife Dr Meghan Chard, where they have looked after the oral health of the general public for many years. Simon is also a co-founder of Parla Toothpaste tabs which is dedicated to sustainable oral care.
Simon talks about his priorities as a family man, a dentist and his motivation to help reduce the amount of single use plastic in dentistry. Simon reminds us that every tube of toothpaste we have ever used is still on the planet. Parla Toothpaste tabs, which he co-founded is committed to making oral care more sustainable.
Watch this episode on YouTube. https://youtu.be/3FV1nac7YJc
Christian Reilly is a Practice Finance Consultant at Lily Head Finance. They specialise in getting primary healthcare businesses the best rates with the best terms. It could be for practice acquisition, commercial property purchase, extensions or refinancing of existing debt.
In this episode we talk to Christian about how he works with clients to find out what they can afford to buy. Deposit requirements from lenders. Typical loan to value ratios. What lenders are looking for in a proposal and also in the people putting forward the proposal. And finally, why it is unlikely a private approach to any one lender is going to result in you getting the best deal with the best terms. Even when you have worked with that lender before.
Eddie Crouch has been Chair of the British Dental Association Principal Executive Committee since September 2020. Before that, he served as deputy chair between 2014 and 2020 and past Chair of Central Counties Branch of the British Dental Association.
He works in two practices in Birmingham and is Vice Chair of the Birmingham Local Dental Committee.
Eddie is passionate about representing the interests of NHS Dental providers and NHS Patients. He is often interviewed for his opinions on national TV and radio.
In this episode Eddie talks to Lily Head about the relationship between NHS Dental Providers and NHS England. What the upcoming report from the DDBR (Doctors & Dentists Review Body) is likely to say and how the BDA are helping to support dentists in Ukraine as well as Ukrainian dentists arriving in the UK.
You can also watch a number of episodes on the Dental Business Transactions Podcasts on our YouTube Channel
Dr Mahrukh Khwaha was recognised in the top 50 dentists list in 2021 for her work in supporting fellow dentists with their mental fitness for greater well being. In this episode of the Dental Business Transactions Podcast she talks with real openness to Lily Head about her motivation, training and the people and teams she has helped.
Mahrukh takes us ‘beyond the baseline, to a place where we can live optimally’.
Bernie Hollywood OBE talks to Lily Head on the Dental Business Transactions Podcast. Bernie has been supporting charities and social enterprises around the world for over 40 years. Helping them grow and thrive today and for the future.
Over the last 40 years Bernie has been responsible for raising a staggering £42,000,000 for the charities that he supports here within the UK and around the world. Bernie has launched a campaign called 'The Boat Of Hope' with a mission to open up a conversation on depression with early years children and young adults around the world. Through the use of the creative arts and adventure.
Please listen to what Bernie is planning and we would encourage you to support him as much as you can by tapping on this link.
Lily Head talks to Martin How, the MD of Lily Head Finance. They cover off the impact of recent base rate increases. The benefits to first time and repeat buyers of identifying their target dental practice & why your finance broker should know more than your banker.
Dr. Rahul Doshi and Dr Bhavna Doshi are the leading UK Cosmetic Dental Surgeons, who have worked with TV media on various makeovers, the most popular of them being Extreme Makeover UK. They are also Principals of the 'Dental Wealth Builder' and are guests of Lily Head on the Dental Business Transactions Podcast. Rahul explains the process he went through to become President of the British Academy of Cosmetic Dentistry. And they both talk about their passion for being educators in cosmetic dentistry and helping Principals find financial success.
Abi Greenhough, the Managing Director at Lily Head Dental Practice Sales details what goodwill values are being achieved. Activity in the dental transactions market and how changes to the NHS UDA targets and challenges in recruiting staff can affect goodwill values.
In light of the recent announcement by NHS England that NHS Dentists will have to deliver 85% of their targets. Eddie Crouch talks to Lily Head about the impact of the provision of NHS Dentistry to the English public. The effect on NHS Dentists and the lobbying the BDA are doing to represent their members.
Justin Leigh, Founder of Focus4growth talks to Lily Head on the Dental Business Transactions Podcast. Justin explains his motivation to be trained as a consultative sales trainer and leadership mentor focused on helping dentists. They discuss the difference between consultative selling and leadership training, and how these skills combined can help dentists attract new staff and develop the patient journey. Take the Patient Experience Scorecard to immediately help you better understand your dental practice.
Prof Paul Tipton, Founder and Clinical Director of T Clinic & Tipton Training Academy talks to Lily Head on the Dental Business Transactions Podcast. They discuss Paul's cricket career, why did not move to Australia and how dentistry and in particular 'passing on the knowledge' has become his real passion and the recently launched Tipton Market Place.
Chris Barrow, Principal of the Extreme Business Academy talks to Lily Head on the Dental Transactions Podcast. Chris is very forthright in his views on factors affecting the dental industry. However in this episode we get a real chance to meet the man, or rather the machine that is Chris Barrow. Chris rounds off the discussion with the top 10 trends he expects to see in 2022.
There is loads to catch up on from the BDA this winter. Eddie talks about NHS contracts, contract reform, DDRB, Health & Social Care Bill and how he is finding the new leaders at the CQC.
Jayne Sproson is driven to help dental Principals be successful through building highly effective teams and implementing sustainable policies. Jayne works with her husband who is an experienced cosmetic dentist. Jayne talks to Lily about her experiences of working & living in the Channel Islands and the value she provides from engaging with dentists on the Clubhouse voice app.
Kunal Thakker talks about his vision for the 'Tooth Club', their USP, dental anxiety, how he loves making a difference for people, starting a squat and the value of a good dental broker.
Lily Head talks to Rajiv Lakhani the founder of 'Dental Compliance Made Easier'. They discuss why you should consider working with a CQC compliance expert, how to make your practice an attractive proposition to prospective purchasers from a compliance perspective.
Martin How, the MD of Lily Head Finance talks to Lily Head on the Dental Business Transactions Podcast. Martin answers questions on how lenders are responding to the pandemic. Why you don't need to do a business plan if using a credit broker, what a 'committed term loan' is, and the funding appetite for dentists who want to set up their own brand new dental practice.
A great discussion between Clare Emery, who heads up the dental team at HCR Law and Lily Head about the mood of investors at the recent LaingBuisson ‘Investing in Healthcare Conference’. Clare also provides some great advice for buyers and sellers of dental practices, and touches on the benefits of the recent merger between HCR Law & Hewitsons.
Dave Feidner is a serial entrepreneur and EOS (Entrepreneurial Operating System) implementer who finally figured out what he really loved was helping growth orientated entrepreneurs who are willing to be open and honest. Dave has been working with Lily Head and her team since March 2020.
The essence of EOS is:
- Doing the work you love.
- With the people you love.
- Having an impact
- Being appropriately compensated
- Having the time to follow other passions.
Anyone with a business should listen to this discussion.
I talk to Brendan Whalley a partner at Knights Solicitors who is an expert on property matters. Property is such an important part of any transaction, and no deal will be successful until any queries on the property are ironed out. Brendan discusses best practice around reversionary leases, putting property in pension pots, managing rent reviews, contacting your landlord and managing your freehold.
Lily Head talks to Eddie Crouch, Chairman of the BDA Principal Exec committee.
Returning to business at the BDA, remote Orthodontics, Contract reforms and EDI (Equality, diversity & inclusion) at work are all up for discussion.
Lily Head talks to John Milne, the National Dental Advisor to the CQC and proud to be a trustee of bridge2aid. John talks about his interests outside of dentistry, in particular the voluntary work he has done with bridge2aid and what the hot topics are at the CQC right now.
Chris Mayor is the recently appointed Head of Practice Sales at Lily Head Dental Practice Sales. Lily’s questioning gives us all a great opportunity to get to know Chris better, and to understand his plans to leverage his new role for the benefit of our clients and team members.
Simon De-Lacy Adams is a specialist dental accountant at Lovewell Blake. Apart from his appearance on the TV docusoap about the Savoy Hotel, Simon talks about how his dental clients are doing compared to pre lockdown #1, his predictions for the months ahead and why up to date and accurate financial reporting is the key to any business decisions now or in the future.
We talk to Abi Greenhough today. Abi shares some great insight into:
- What she did before 'practice sales'.
- Relevant Market Comparables from pre and post lockdown #1.
- How Dental Brokers like us influence the dental practice market.
Dr Richard Howarth, the former Principal of Smile Style Dental Care talks to us about how life has changed since he sold his dental practice. His 1000 mile cycle ride from Lands End to John O'Groats in aid of Dental Mavericks Charity & how he came to adapt a safety visor he designed for treating patients with AIDS to one offering protection from Covid 19.
Lily Head talks to Jonathan Tyson, a Partner & specialist Dental Solicitor at Knights. They have a great discussion around how NHS targets are affecting deals as well as a wider discussion about factors which influence #Dental Business Transactions.
Lily Head talks to Catherine Rutland, Clinical Director at Denplan about how Denplan members are looking after their mental well being and building up their dental practices.
Lily Head talks about why dentists who are considering selling should make sure they have plenty of options when selecting their buyer, and why they should hire trained negotiators to act on their behalf. #ItsAJungleOutThere
Simon Hocken spent 20 years as a dentist. Founding 3 squat practices. Since 2008 Simon has been running 'now Breathe'. A specialist business consultancy for dentists. Lily and Simon discuss strategies to grow your dental practice and what the top 3 habits of really successful principals are. If you would like to discuss buying, selling or financing a dental practice then please contact dentalbrokers@lilyhead.co.uk
Lily Head talks to Eddie Crouch, the Chairman of the BDA about a range of subjects, including:
- Health Select Committee inquiry
- Healthwatch reports
- Patients access to dentistry
- Communication on availability of care
- Negotiations on contracts post April 1st
- Issues with secondary care provision and redeployment
- Graduation and potential delays
- Discussions with Professor Dame Clare Gerada.
- Response from CQC on delays with registrations.
Lily Head talks to Malcolm Barker, the MD of MBR Dental Recruitment (https://mbrdental.co.uk/) about ways to make sure you have the right people in the right seats. It makes a real difference when selling a dental practice to have all the roles filled by qualified people being paid the correct amount.
If you have ambitions to buy or sell a dental practice you will need a team of professionals around you. Lily Head talks about who you need in your team, and why?
Lily Head talks to Tom Chaston, Founder and Director of All Med Pro about what you should expect from your policy. Hear about:
- A risk versus value balanced approach
- Challenges of Covid from an Indemnity Perspective
- Lack of transparent or bad advice floating around the industry.
- Complaints & Claims – How best to navigate.
Lily Head talks through the benefits and potential pitfalls of selling your dental practice to your associate. This can be a great outcome for both parties but it should be managed.
Lily Head talks to Eddie Crouch, the Chair of the British Dental Association Principal Executive Committee about; Lockdown, the Pandemic, and the impact on the NHS. You can feel how dedicated to UK Dentists Eddie is when you hear him speak.
Lily Head discusses the value of hiring a dental business coach. Lily has interviewed many established business coaches in the last few months to understand their ways of working and the ROI they bring. Lily has a short list she would be happy to discuss with you. Please contact her on dentalbrokers@lilyhead.co.uk
Lily Head talks about why you must consider your premises when planning to put your dental practice up for sale. There are things that buyers and their lenders will want to see, and some things they definitely will not.
Lily Head and Martin How, the MD of Lily Head Finance talk about the attitude of the lenders and what buyers need to do post lockdown to be credible in the eyes of vendors, lenders and sales agents.
This is the 3rd in a series of podcasts that we have put together with our partners at Denplan. Lily Head discusses benchmarking staff costs and why these should always be well managed.
Second instalment of a series of 3 podcasts with our partners at Denplan. Lily Head describes the attitude vendors who want to sell must have. It is now much more important that vendors support the lending applications of purchasers in order for funds to become available.
First instalment of a series of 3 podcasts we did with our partners at Denplan. Abi Greenhough talks about techniques dentists can use to invigorate themselves and re focus on their pre-pandemic goals. Even if ‘survival’ seems like the main business priority right now.
Join Abi Greenhough, a Director at Lily Head Dental Practice Sales and Alun Rees, the Dental Business coach as they discuss how Covid 19 is affecting lenders attitude to risk and how it is changing the dental practice sales journey.
Join Lily Head and Abi Greenhough from Lily Head Dental Practice Sales as they summarise some of the main considerations for practice owners and buyers relating to the property aspects of a dental practice sale.
Join Lily Head and Abi Greenhough from Lily Head Dental Practice Sales as they discuss the essential advice for practice owners on how to prepare your dental practice for sale.
The process can start a few years to a few months ahead of the sale, so ensure you are prepared to get the best outcome and reward for the effort you have invested
Join Lily Head and Abi Greenhough from Lily Head Dental Practice Sales as they discuss how to be a 'Credible Buyer' when looking for a dental practice.
Lily and Abi walk through how you can best prepare yourself to get the practice and get the practice you really deserve, with essential tips for first time buyers to avoid missing out on your dream practice.
Join Lily Head and Abi Greenhough from Lily Head Dental Practice Sales as they discuss the main factors that affect a dental practice's valuation and how you can improve the future valuation of your dental practice.
You'll find out what and how you need to prepare when considering the future sale of your practice or if you are considering refinancing your practice.