Buy A Practice
Buyer FAQ & Registration
Answers to common buyer questions, plus a way to be the first to know when new practices hit the market.
Buyer FAQ
Answers to Common Buyer Questions
Do I need an Attorney and an Accountant to Buy a Practice?
Buying a practice can be a complex process. Although some practices are sold without the help of accountants and attorneys, we strongly recommend that both the buyer and seller engage professionals.
Is buying a Healthcare practice a good idea?
Yes! As an entrepreneur, you may have a dream of being your own boss. However, starting from scratch can be challenging. Buying an existing practice offers numerous advantages.
What will the process of buying a company cost me?
The seller typically pays Strategic Medical Brokers‘ fee, not the buyer. However, other costs, such as legal and accounting fees, may be required. In addition, there may be additional startup costs.
Will the current owners train me to run the company?
Depending on the complexity of the practice, the former owner will offer varying levels of training. In most small practices, the owner will provide two to four weeks of training at no cost to the new owner.
How do I know that the profit figures the sellers claim are valid?
During the acquisition process, due diligence is required. The seller must present documents to verify their profit numbers.
Will I have to come up with the entire purchase price?
100% of the purchase price is seldom required. Sellers frequently provide owner financing to some extent. Additionally, a bank can loan up to 85% of the purchase price through a loan sponsored by the Small Practice Administration. We also work with lenders who provide 100% financing to qualified physicians and dentists.
How much money will it take to buy a smaller practice?
The price of practices varies greatly. However, it is unlikely that one could buy a practice with a down payment of much less than $75,000.
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Please do not hesitate to contact Strategic Medical Brokers if you have any additional frequently asked questions about buying a company or practice brokers.