Eight Steps To Practice Ownership
Buying a practice is one of the most significant life decisions ever. Strategic Medical Brokers has an eight-step process to help you find and acquire the right practice.
01
Take Charge
You’ve decided to buy a practice to control your financial future. Congratulations on contacting Strategic Medical Brokers! We gather detailed information about you to establish your financial capabilities, skills, experiences, and personal life goals. This helps us determine the best types of practice to pursue.
02
Evaluation
Let’s meet in person or via video to understand your needs. This will help us gain your commitment to the process and start searching for the right practice.
03
Education
We’ll explain the process and help you understand the realities of the current marketplace. You’ll learn to search for practices, read Practice Listing Information sheets, understanding basic valuation concepts, and reviewing our available opportunities.
04
Search
We’ll help you search for your practice, sign confidentiality disclosures, get detailed information on the practice, and set up showings with the seller. We’ll refine your practice search and visit opportunities until you decide on a practice to purchase.
05
Offer
We’ll help you draft a contingent offer on the practice you want to buy and present a Letter of Intent to the seller with an earnest money deposit held in escrow.
06
Due Diligence
This is the period where you thoroughly inspect the owner’s representations. We’ll coordinate the efforts of your legal and accounting professionals and strive to satisfy all contingencies.
07
Closing
Final preparations will be made for lease assignments, utility transfers, financing, merchant service accounts, inventory counts, and any other last-minute preparations to make the transfer seamless.
08
Post-Closing
Transitional training by the seller may include meetings with employees and clients, technical education, computer updating, and other essential knowledge transfer. We’ll be available to assist you with any questions or post-closing requirements.
Please don't hesitate to ask us to explain any portion of this process in detail. With Strategic Medical Brokers' assistance, you can have successful experience purchasing and owning your own practice. Contact us via the form below to discuss your business interests.
