Gary N. Wiessen

Selling and Evaluating a Practice

Why are you selling your practice?
When would you like to leave the practice, retire or relocate?
Are you retiring? Are you relocating? Lease expiring?
Are you familiar with all the aspects involved in your sale?
Have you had your practice appraised and evaluated so as to ascertain
that the purchase price is suitable, practical, and achievable for a prospective purchaser?
If your practice has been evaluated, was it done by someone who sells practices?
Have you tried to sell your practice on your own but have not yet been successful?

Did you know…?

Purchasers often have no idea how to structure the purchase of a practice. They might be
excellent candidates if the entire process was explained to them! Some practitioners,
deciding to sell their practices, are misled as to its value. They may spend many hours trying to achieve a price that is too high, or they assume there is little or no market for their opportunity. A prospective purchaser who might look at your practice may never tell you what he or she is really thinking. He might simply walk away from what could have been a great situation for him, simply because no one addressed possible problems. Most sellers I have dealt with during my 28+ years selling practices, are totally unprepared with the most important information about their transaction. Your accountant can be helpful with the tax implications of your sale. Your attorney will prepare the contract of sale and advise you as to its legal implications. Unfortunately, neither may be aware of the value of your asset, the marketplace for your practice, or the suitable methodology of the sale. They also may be unfamiliar with the many particulars requiring negotiation.

Sellers who have found their own prospective purchasers often have difficulty closing a transaction, (especially if they are friendly with the prospective purchaser). Often they have no consultant who can mediate important concerns. These issues may be financially at cross-purposes to the seller and the purchaser. This can cause confrontation either directly between the doctors or between their attorneys or accountants.

If you need assistance with either an interested or prospective purchaser, complete the brief contact questionnaire and email it back to me or simply call me. I will try to assist you with a buyer who is both professionally and financially suitable. Your information will be held in the strictest confidence, and there is no fee for your inquiry.