Total Practice Solutions Group
Use a broker even if you have buyers because some corporations are looking for smaller practices. Using a broker will get you more than the original offer. Tip by Dr. Karl Salzsieder, Mr. Rex Salzsieder and Mr. Nick Elliston
<June 13, 2019 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
In this article, we are highlighting the most critical factors that make a practice stand out from all the rest. Undoubtedly, the number one factor that drives the sale of your practice is the location. A practice sale, like any real estate sale, is primarily driven by location. Will a buyer want to work and raise a family in the area? A buyer’s number one factor is the location. They want low crime, excellent schools, recreational opportunities, local entertainment, and shopping.Â
<May 17, 2019 in Seller Articles, Seller FAQ Tagged selling a vet office, selling your practice Leave a comment
Every day veterinarians sell to corporate buyers with sales prices over one year’s gross, however, using a professional consultant or a TPSG Broker can result in a sales price of $250,000 or more over the original corporate offer. This can net many times over what a second opinion may cost and is well worth the effort. Tip by Dr. Karl Salzsieder and Mr. Rex Salzsieder
<May 15, 2019 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
When selling your practice, the Accounts Receivable (AR) can be an issue. As a rule, AR goes with the practice. If you have a high AR, try to reduce the amount prior to selling your practice in order for a smoother transition. Tip by Dr. Len Jones
<April 15, 2019 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
If you are considering selling your practice, but leasing the Real Estate to the buyer of the practice, it is important to determine what liens the Mortgage holder (if there is one) has on the practice. It is not uncommon for the Bank to have a blanket lien on all the assets, not just the building. This situation would prevent the buyer of the practice from obtaining a loan for the acquisition of the practice. Tip by Dr. Richard Alker
<March 19, 2019 in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month Leave a comment
Lenders can confidently provide financing for practice goodwill if seller’s have a clean Profit & Loss statement. The best way to achieve a clean Profit & Loss statement is to discontinue paying personal expenses through your business and declare all income on your Business Tax Return. For every dollar you increase in declared net income you will receive four to five dollars in practice value. Tip by Dr. John Bryk and Dr. Bill Crank
<February 14, 2019 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
Maintaining growth is vital in getting the best price for your practice. Showing growth on your current P&L minimizes risk for the buyer and allows for better financing. If growth is not maintained during the due diligence phase of closing, owner holdback will be significantly influenced. Tip by Dr. John Bryk and Dr. Bill Crank
<January 15, 2019 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
If you are looking to sell your practice or obtain a practice valuation in early 2019, send all your financial information to your CPA as early as you can so your business tax returns can be completed as soon as possible. Tip by Dr. Kurt Liljeberg
<December 17, 2018 in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month Leave a comment
When considering a corporate sale, make sure to contact your local TPSG representative. They have experience working with these organizations and can provide you with the tools you’ll need to get a higher price. Tip by Dr. Dave Davenport and Mr. Nick Elliston
<November 15, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
Many sellers today are being contacted directly by corporate buyers. They are getting very good offers above what most non-corporate buyers could offer. When receiving offers from corporate buyers, it is best to get a broker to help negotiate the sale. Almost every corporate sale we have been a part of, we have received higher offers for the seller, in excess of any broker fees. Tip by Dr. Karl Salzsieder and Mr. Rex Salzsieder
<September 17, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment