Back on my travels

I’ve enjoyed 2 glorious days working at or around my desk in Falmouth – a welcome change from constant travel.
As well as responding to the never-ending round of emails and phone calls, its been a chance to respond to the 41 (this morning) enquiries from principals interested in the IDH Private proposition – and wanting to know what we have to offer.
This sheer number of enquiries has been a pleasant surprise but I am now having to prioritise the enquiries and make sure that everyone has an acknowledgment and a time-scale.
A common question is around whether the funding is still in place, given the current global situation – the answer is a very definite “yes”.
I have also invested a lot of my time these last 2 days in getting my head around the valuation model that we are going to use – and the somewhat head-banging concept of EBITDA.
There are many principals out there who have been caught up in the conversation about corporates paying multiples of gross revenue – 100%,120% etc.
Its not quite that simple – and, post-Iceland, probably not going to be as generous going forward.
The financial team at IDH have been helping me to construct a valuation template for private practice that takes into account as many of the idiosyncrasies as we can before due diligence.
That should be enough to enable good conversations – and that will be tested today as I visit two practices to discuss the proposition, the numbers and take a look around the practice.
I’ll also be taking my colleague and Operations Director, Matt Jackson, to visit one of my favourite private practices – just so that he can see “how its done” (not to buy it by the way).
48 hours of travel to follow – back on the road again.


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Chris Barrow

Chris Barrow has been active as a consultant, trainer and coach to the UK dental profession for over 20 years. As a writer, his blog enjoys a strong following and he is a regular contributor to the dental press. Naturally direct, assertive and determined, he has the ability to reach conclusions quickly, as well as the sharp reflexes and lightness of touch to innovate, change tack and push boundaries. In 2014 he appeared as a “castaway” in the first season of the popular reality TV show “The Island with Bear Grylls”. His main professional focus is as Coach Barrow, providing coaching and mentorship to independent dentistry.