When selling a private practice, whether a CPA firm or a physical therapy clinic, it’s common to find a competitor interested in buying the business. Selling your practice to a competitor is a difficult decision, so we’ve listed the pros and cons of the transaction below to help those considering the option.
Recent posts by Private Practice Transitions
2 min read
The Ethical Obligations of Business Brokers to Their Clients
Finding a trustworthy business broker can be difficult, but at Private Practice Transitions, we always take ethical obligations to our clients seriously. Below, we’ll explain a few of the obligations every broker must have to provide quality service and insight to clients.
Topics: Blog
2 min read
When Is It Time To Sell Your Private Practice?
How does a private practice owner know when they should move on from their business? Below, we discuss the clear signs that it’s time to sell your private practice, from exhaustion to increasing market competition.
5 min read
Avoiding Common Tax Pitfalls When Selling a Private Practice
Tax exposure is one of the biggest considerations when selling a business, such as a private practice. Below, we’ll discuss some key tax elements sellers should know when selling a private practice, including how to avoid common tax pitfalls.
Topics: Blog
4 min read
SBA New SOP 50 10 7 Changes: What You Need to Know
Capital access is one of the most prominent hurdles startups and small enterprises face when running their businesses. The Small Business Administration (SBA) assists small businesses to stay afloat by providing financial counseling, contracting expertise, and business loans. It runs several programs and offers various resources to help these businesses to break even and remain viable.
Topics: SBA Loans SBA Financing Small Business Administration
4 min read
Why Business Owners Need an Opinion of Value
Do you own a private practice? Would you like to sell it someday to transition into retirement or another business opportunity? If yes, you need a broker’s opinion of value performed by a qualified business broker, or valuation expert.
Topics: Business Owners Business Valuation Opinion of Value
3 min read
How to Target the Best Buyers for Your Private Practice
Business has been good for your private practice for the past few years, but now you feel it’s time to sell it and move on to other profitable ventures. The only hurdle is that finding a buyer is not as easy as it seems. No matter how lucrative your practice is, you need to attract serious potential buyers to have any chance of selling it for top dollar. Fortunately, we have great ideas to make it work. Please read on to find out more.
Topics: Buyers Sellers Selling a Business
3 min read
How to Make Your Practice Show-Ready When It's Time to Sell
Whether you’re ready to retire, make a career change, or downsize your responsibilities from owner to employee, now may be the time to ready your practice for market. Irrespective of the reason for selling your business, the goal is that you sell it for the highest profit. When selling a home, you repair damages and boost its curb appeal to attract the best buyers and receive the highest offers. Below are the steps you should take to make your business show-ready for a sale.
Topics: Business Owners Sellers Selling a Business
4 min read
The Importance of Owner Transition When Selling a Business
Selling a business is a big decision that shouldn’t be taken for granted. Once the sale is made, you must go through a phase known as the transition period (or the handover period). During this period, you, as the existing owner, will remain with the business for a specific timeframe to help the new owner take control of it.
Topics: Selling a Business Business Transition
3 min read
The Implications of Fed’s 50 Basis Points Hike on Interest Rates
The Federal Reserve’s decision to raise interest rates aims at slowing the economy without leading to recession. The increase in interest rate will also help counteract the effects of inflation while scaling back other COVID-19 pandemic-era economic supports. According to Jerome H. Powell, the Fed Chair, the Fed is moving expeditiously to restore price stability for both consumers and business owners.
