What to Know About Buying a Practice

The video talks about buying a pediatric practice for sale and what’s involved in the valuation process of purchasing such a practice. The advisor discusses the information he gives potential practice buyers. One point that he feels is necessary to stress is that there will always be surprises on the way to success, no matter what type of practice an individual seeks to buy. That naturally comes along with the territory of buying a business.

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There will be uncertainties and unknowns.

The first meeting involves collecting more information about the practice the customer is buying than the seller usually offers in the beginning. The advisor wants to know whether the person is buying assets, shares, or units. He wants to know if there is a property transaction involved for the premises. He also wants to know if there is a lease and who owns the premises. All of those questions and answers are crucial because they help the advisor to direct the client in the best possible manner. The information shared in the first meeting helps the advisor to steer the client in a way that he or she can prosper instead of stumbling horribly along the way. A client who knows the answers to those questions is usually in a great position to succeed.