Selling a private practice is not a small venture. It requires careful planning and expertise to guarantee a fair price and positive experience for all involved. For this reason, many private practice owners choose to work with a certified business broker to simplify the process and maximize the results. However, even with a broker on your team, it’s important to understand how the process works, and what the broker can and can’t do.

What is your business worth? In terms of personal value, it’s most likely priceless according to you. Nevertheless, if you plan to sell your business, merge it with another company, or prepare for retirement or a career change, it’s worth knowing what the business’s true value is to a buyer.

Preparing to sell a professional practice you’ve maintained for years is a significant milestone, and receiving an offer can be exciting. However, before you sign any contracts, ask yourself if it’s wise to accept the first offer right away. While it’s tempting to close the deal quickly—and the initial offer may indeed be the best you’ll receive—it’s crucial to step back and evaluate the broader implications of the sale. If you’re wondering whether you should accept the first offer to buy your practice, this guide will help you explore the pros and cons and important factors to consider.

Selling a private practice is an exciting but complex process, especially when it comes to the buyer’s assumption of risk. Understanding this risk safeguards what you’ve built while laying the foundation for a seamless transition. Whatever type of professional service you’re selling, knowing the risks the buyer assumes and your obligations can enhance the success of the sale.

Selling a private practice is a huge task filled with emotional considerations, financial complexities, and logistical hurdles. A business represents years of hard work, dedication, and passion, making the prospect and process of selling a challenge. However, with the right strategies and mindset, you can overcome common obstacles and easily transition to the next chapter of your life. Here’s a basic guide to overcoming eight obstacles to selling your private practice. Knowing the value of your practice, finding the right buyer, and preparing your practice for sale will expedite the process and support your goals.

Recurring revenue is an important factor when understanding the value of a business. Getting more insight into how recurring revenue impacts the valuation of your business, or practice, can help you make smart decisions, attract new investors, and maintain a steady track for long-term growth.

Nobody wants to deal with uncertainty when they’re managing a small business or practice. From unexpected illnesses to sudden departures, any number of situations can threaten the continuity of your operations.

Maintaining any business requires significant work and careful consideration, and running your own accounting practice isn’t any different. However, owning an accounting practice offers several advantages that other types of businesses may not provide.

Determining the overall value of your practice is more than just an exercise in crunching numbers. It plays an important role in strategic decision-making, especially when it comes to selling or merging. When practice owners consider the worth of their businesses, the two main factors that often come into play are book value and fair market value. While the differences in these two factors can be a bit nuanced, Private Practice Transitions’ complete guide to book value versus fair market value can help you navigate them.

Running a successful private practice demands dedication, expertise, and a significant amount of personal involvement. However, practice owners must eventually learn to delegate so that they aren’t trying to tackle every aspect of the practice on their own. Failing to let others take the reins can limit the success of your business when you’re not around, so you want to make sure people can stand in your place to run things smoothly while you’re out of the office. Private Practice Transitions is here to help by offering effective strategies for reducing owner dependence that allow you to keep things running by putting your faith and skills in others.