Dr. Barry Frankel of West Palm Beach, Florida says...
"Ms. Blackwell was very thorough. She did a great job of appraising the practice I wanted to buy and answering my many questions. I was very pleased with the end result and look forward to working with Hayes Consulting again."

Purchasing a practice may be the most important financial investment you'll ever make. You can expect to pay a fair price for a good practice, but pay too much and you will be burdened with extra debt for years to come.

Therefore, the starting point for your buy/don't buy analysis should be a professional appraisal to determine a realistic range of value when you can still do something about it, before the transaction takes place.

It's not uncommon for the buyer and seller to rely on one appraisal. However, if you don't agree with the seller's appraisal, get one of your own. It's a huge financial mistake to pay too much because you were an uninformed buyer. Whatever you do, don't sign on the bottom line until you are comfortable you know the value of the practice you are negotiating over.

Questions to consider when buying a practice:
How much is this practice really worth?
Will it generate enough cash flow to support the debt payments and a reasonable salary for me?
How will I pay for this practice? Will the seller self-finance?
What are my tax concerns and how can I structure the deal to maximize my deductions?
How long should the seller stay to help me with the transition?

Contact Hayes Consulting

Hayes Consulting offers valuation and consulting services for eyecare professionals seeking to buy or sell a practice. Simply click here to e-mail or call 800.588.9636 for a prompt, confidential consultation with Senior Consultant Marilee Blackwell.

Marilee Blackwell

Accredited by the Institute of Business Appraisers, Ms. Blackwell is an MBA and former CPA who specializes in consulting with and appraising eyecare practices. Marilee is a member of the AOA's Practice Management University and is a frequent speaker and writer on a variety of financial management issues in the vision care field.

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