Results for "Tip of the Month"
When considering selling your practice, tracking production is very important, even in a 1 DVM practice. Having at least three years of accurate production before listing your practice gives potential buyers confidence in considering your practice. Using your practice management… Read More
It is important for Solo Doctor practice owners to know that current buyers in the market are mostly looking for 1.5 to 2 Doctor practices. As they develop their exit strategy they may need to consider expanding their practice to… Read More
The sales price is just one of many important factors to consider when selling your practice. Terms, stock options, partnerships, and earn-outs are equally as crucial. Tip by Dr. John Bryk and Dr. Bill Crank.
Why Do You Need A Valuation? A practice valuation determines Fair Market Value, the amount a buyer is willing to pay in the open market. A practice valuation determines Lending Value, which is the amount a bank is willing to… Read More
TPSG recommends that owners do not sign any new five year equipment leases if you are getting ready to put your practice on the market. The offer may be tempting but the buyer(s) may not want to assume the new… Read More
Doctors considering a career transition or retirement must plan 3-5 years ahead of time before selling their practice. This will allow time to make any required changes to increase profitability. If practice profitability is 12% EBITDA (earnings before interest, taxes,… Read More
Doctors anticipating a career transition of a future practice sale should plan ahead by requesting a practice valuation at least three years before the sale, so if needed management improvements can be made to get the adequate net cash flow… Read More
When selling your practice there are several underlying factors to negotiate. Having a professional help you to recognize these factors and facilitate these decisions can greatly affect the bottom line (i.e. equipment leases, real estate sale/lease, stock options, etc.). Experience… Read More
Show Your Profit! Every dollar you disclose as income on the business tax return is worth four to five dollars in practice value. Show your profit! If the lines are blurry between personal and business expenses, make them transparent. Declare… Read More
Slow down and do not sign a Letter of Intent with a corporate buyer/consolidator until you engage a consultant like TPSG that deals with the consolidators/buyers frequently. Many times, we can better your price and terms by 20-30%. Tip by Dr.… Read More