Protect Your Interests
Choice Transitions' Practice Protection Plan (PPP)
For many dentists, the proceeds from the sale of their practice are a significant part of their retirement income. Most envision being in control of when they will relinquish ownership. Often overlooked is their sudden and unexpected death or disability.
In general, following the unexpected death or disability of a dentist, practice value immediately begins to decline approximately 25% per month until a transition occurs. Unfortunately though, it could be weeks before a grieving loved one contacts the appropriate professionals to begin the search, and then additional weeks if not months before a proper transition is completed. By then, the practice could have little value remaining.
As a way to give back to the profession and to show our mutual support, Choice Transitions created the Practice Protection Plan (PPP) several years ago, the first of its kind in the industry, to provide you peace of mind in knowing your practice's value may be protected in the event of such an unexpected tragedy. There is absolutely no cost to you to sign up.
Here's how the Plan works:
- We provide you with a Letter of Notification to sign and entrust with an individual such as your attorney or executor. This letter instructs that person to notify us upon the happening of a tragic event requiring us to sell your dental practice immediately.
- You pre-sign our standard Agreement which is then placed in your file authorizing us to sell your Dental Practice only upon receipt of the signed Letter of Notification.
- Each year you forward us your relevant practice financials and requested data reports to be kept in your file.
- Should an unexpected tragedy occur, your practice will receive “priority status” upon our receipt of the Letter of Notification. We will immediately appraise and market your practice to numerous candidates then currently looking to purchase a dental office. By maintaining your vital practice information, we will be able to begin the sale process immediately while your practice is still maintaining its highest value.
- As a participant of our Plan, your practice will be locked in at a reduced commission rate should we have to sell as a result of a tragedy. By reducing our commission, we hope to provide you or your estate additional financial support during this unexpected and tragic occurrence.
For Peace Of Mind In Knowing Your Practice Is Protected, Enroll Today! There is no fee to enroll.
Print the Practice Protection Plan (PPP) Package and follow the instructions.