Today’s buyers are far more sophisticated than their predecesors. This drives the need for sellers to be aware of what buyers want to see when they are looking at a practice. This includes both the physical practice itself and just as important, the statistics that tell the accompanying story. A word to the wise, while confidentiality is important, providing the right “inside” information will not be as scary or risky if you have a confidentiality agreement signed by prospective buyers.
Being able to provide and format the information can enhance the sale of a practice. Information needs to be presented in a cohesive manner with complete figures in a readable and digestiable manner, at one time rather than piece-meal. A buyer can review the information independantly and with their advisors. This type of presentation reflects well on the practice as the manner in which it runs. Buyers like a clear picture of the practice performance. It also creates a better rapport between the doctors.
Most of us are somewhat protective our individual financial situation. Practice sales fly in the face of what may seem comfortable. Experience shows that well informed buyers more readily make a stronger offer that more closely reflects the asking price. The correct information highlighting expenses, net cash flow and the appropriate practice reports increases the likelihood of a good sale for the seller and a strong realistic beginning for the buyer. Both parties are better served by “knowing the numbers.”
Randy Marie Daigler
Transition Manager
ADS in Michigan:
The DBS Companies
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