Buying into an allied health practice is a huge investment for your future with considerable personal risk for yourself. Given the size of the investment and risk a business valuation is highly recommended for many reasons, including these I have listed below:
- Rely on professionals who have experience in the whole marketplace
- Don’t overpay when embarking on a significant financial commitment, pay the fair and market price
- For the future, other Partners may come in or leave the practice, a market valuation will set the benchmark for this purpose
- Banks often require valuations to lend for the purchase
- Challenge the seller’s offer armed with the real valuation and objective information to backup that value
Pat Mannix, Partner, Paris Financial
Follow me on Twitter @mannix_pat
Image courtesy of Vichaya Kiatying-Angsulee at FreeDigitalPhotos.net
