Why Buy a Private Practice
Whether you’re looking to expand your business by acquiring a synergistic private practice or enter the market with an existing company, there are many benefits to purchasing a private practice rather than starting a new one. By acquiring an existing business, owners can skip the growing pains and difficulties of starting from scratch.
According to the US Bureau of Labor Statistics, one in five US businesses fail within the first year of operation. So, buying a private practice that’s already existed for a few years and has an established organization and revenue stream is a much safer bet. Those looking to expand can significantly increase their local market share, client list, and resources with a small business acquisition in months instead of through gradual growth that takes years of operation.
What You Need to Know as a Buyer
If you want to buy a private practice, there are a few things you should know. As a buyer, there are three key elements you should understand about acquiring a business:
- Know your buying power.
- Know what questions to ask regarding the business (due diligence).
- Know when and how to make an offer.
If you’re unsure of the answer to any or all of these questions, don’t worry; we can help. Our team of experts will work with you to determine your acquisition’s parameters and set reasonable goals. And we’ll do so quickly because, in today’s market, businesses move quickly. If you see a business that you are interested in, you should assume that there are others interested in the business as well.
How Private Practice Transitions Makes Acquisitions Easy
First, you’ll meet with our buy-side representation team, and we’ll discuss what you’re looking for, what your buying power is, and set attainable goals. With your targets in hand, we’ll help you secure financing and provide some potential sellers that fit your needs.
If we find a target that fits your ideal acquisition, we’ll start the process by negotiating with the seller. Our business brokers have helped finalize hundreds of acquisitions, so you can be sure that you’ll have a team of experts by your side to help achieve an amicable deal for both sides.
Once the deal has been closed, we’ll coordinate the logistics and due diligence with you and the seller and help develop a seamless business transition plan so that the handover is smooth for everyone.
If you’re interested in buying a private practice, we invite you to look through our current listings, which you can filter by industry and location. If you see a business that interests you, contact us today.
We also offer Buy-Side Representation — Learn more.
At any one time, there are 15 prospective buyers on the market for every one business listed for sale."
