Practice Transition Association
100 South Saunders Street
Lake Forest, Illinois 60045
Phone: (847) 780-7070
By Appointment Only
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
- Warren Buffett
Within the next ten years, there will be a tidal wave of practices “for sale” flooding the market place, primarily due to baby boomers seeking retirement. The sheer number of practices for sale will inevitably affect the purchase prices due to simple supply-demand economics.
In such an environment, trying to stand out in a crowd of practices for sale will be difficult. Those practice owners that truly plan ahead and start executing their exit strategy today will be prepared for the future challenging marketplace.
A good exit strategy is not an event; it is a process that requires clarity, business acumen, and time. A good exit strategy focuses on enhancement of practice’s economic value and portability. The business with the most value is the one that has been planned and prepared for sale well in advance of projected transition. By starting early, you’ll have an ability to maximize your practice’s value and have the peace of mind that comes from having your legal, tax, and financial foundation for your practice in place.
So, are you going to be ready? What do you think will happen to YOUR practice when it’s your time to retire?