Avoid the pitfalls and get the right practice and the right deal
Buying a practice is one of the biggest decisions you will ever make. When you buy a house, it is a given that you will commission a survey; a survey ensures that you do not buy a building that is likely to fall down and that there are no other hidden nasty’s when complete on a purchase. Exactly the same applies when you are considering the purchase of a practice. Yet until now it has been difficult to source the appropriate advice and knowledge to ensure that you are making a good buying decision for a practice purchase.
Who is this service suitable for?
This service is designed for people looking to acquire a practice that is NOT being marketed by Myers La Roche.
Key questions this report will help you to answer.
* Is there anything hidden in the accounts or the business to make it look more profitable and attractive?
* What is the genuine technical, open-market value of the practice?
* How does this compare with the asking price?
* Is the practice a good fit for your needs?
* Should you be prepared to pay a premium for the opportunity?
* What is the practice worth to you and your family?
* What are the strengths, weaknesses, opportunities and threats of the enterprise?
* Will the goodwill transfer efficiently from the existing owner to you?
* Will you be able to raise sufficient funding?
* What can you do to enhance practice performance?
* What resources do you need in place to mount a successful acquisition, where can you find the best possible providers?
Myers La Roche’s practice review for purchasers service puts prospective buyers into a situation of knowledge on these key areas, to allow you to make a fully informed decision based on clear facts. It is a low cost service which allows you to make your decision and if you wish to proceed, to negotiate appropriately to get the right deal terms.
What is in the Report?
Our report is all about substance, you will find no padding. When you commission this service you will receive a concise, comprehensive report comprising the following:
* Key performance indicator (KPI) analysis to highlight the strong and weak areas of the practice operation and to illustrate where the ‘easy wins’ are for you to improve performance and the underlying profitability.
* Market Analysis – What is the total approximate market available in the practice’s catchment area? What is the competition like and what is the potential for further growth?
* Services Offered / Trading Style / importance of key men in practice – the products and services the practice offers may or may not be easily transferable to a buyer. We will provide you with an analysis of the current situation and how readily we think the business goodwill will port to you as a future owner.
* Our estimate on how the implementation of any “easy win” growth strategies identified will impact on future performance and yield over a reasonable, defined time period. (These figures will be useful in helping you construct a business plan and cash flow projection to assist you in acquiring bank funding for the acquisition if you proceed.)
* Property – we will review the proposed security of tenure and advise on the implications and options surrounding the lease (or freehold) position and strategies and your personal liability