The world of buying and selling practices is in constant flux. Whether it’s due to owner retirement, personal reasons, or economic challenges, private practices sometimes close their doors. For current practice owners and potential buyers alike, the question arises: “Can you buy or sell a closed private practice?” Private Practice Transitions is here to explain the basics and go over some reasons why this could be the right move for you.

The accounting profession is witnessing significant shifts, driven by technology, workforce dynamics, and evolving market demands. The 2023 National MAP (Management of an Accounting Practice) Survey provides a comprehensive overview of these changes, offering valuable insights into how firms are adapting to the current landscape. 

When selling your private practice, determining the right price isn’t always a straightforward and simple process. You need to carefully consider your list price versus the selling price and see how they can affect the deal. Private Practice Transitions is here to explain the difference between these figures, go over what factors may influence them, and help you understand how to get the best possible sale price when closing a deal.

There are many important factors to consider when running your own clinic. You often need to look at what’s best for your patients and what works better for the clinic, your staff, and even yourself. One thing that can often help with running a clinic is turning it from a one-person show into a group effort.

Private equity is a major force in the mergers and acquisitions (M&A) landscape, especially over the past few years. For private practice and business owners, understanding the effects of private equity on this domain is beneficial for strategic planning and growth. Private Practice Transitions is here to showcase how private equity is changing the M&A landscape and what you might be able to do about it.

Navigating the acquisition process is an important part of the process for both sides when buying or selling a company. Private Practice Transitions is here to sort things out by explaining four types of acquisition agreements for private practices. These methods are beneficial to the buyer and seller and can explain the transfer of power from one side to another.

There may come a time when you’re ready to sell your practice and move on to your next big adventure. While there’s a lot of important paperwork to consider for any big sale, the non-compete and non-solicitation agreements are vital. Understanding the role of a non-compete and non-solicitation in a business sale is crucial as these agreements protect the buyer and seller’s interests.

There are many good reasons to sell your private practice. However, we know that the thought of completely walking away from the profession is not for everybody. You may be wondering if you can stay on after selling your business. Oftentimes, you will be strongly encouraged to do so, even if you’re no longer running the show.

We often hear about business credit scores, but how much do we really know about them? For small business owners and entrepreneurs, understanding this financial data can be the key to unlocking growth opportunities. Whether you’re seeking financing, negotiating better terms with suppliers, or simply building a strong financial reputation, your business credit score plays a crucial role. Private Practice Transitions is here to discuss everything you should know about business credit scores, from what they are to why they’re important. We’ll also share some helpful tips on how you can raise yours over the years.

Navigating the process of obtaining a Small Business Administration (SBA) loan can seem like a difficult task, especially when your goal is to quickly close the deal. Whether you’re looking to buy, sell, or grow a small private practice business, understanding how to quickly close a loan with the SBA is essential. Here are a few helpful tips on how to deal with the SBA and how to come out on top.