There are numerous agents selling practices throughout the UK in every discipline and the first step is to register with them. If you need details of who these are, please contact us. You need to start looking at what money buys you ahead of when you are ready to purchase. This will assist you with knowing your perfect practice and location.
The prospect of ownership drives you through a long sales process. Here at BHH we are here to help you navigate that journey to try and make it as stress-free as possible.
What you need to be thinking of and planning for now!
- Creating clinical and Business CV’s – if you want to borrow money you need to be able to demonstrate that you understand how a business works/operates;
- Your personal finances – make sure that they are clean with good credit score;
- Ensure your personal financial records are up to date and accessible;
- Have you got a specialist accountant or a local accountant – in a lot of healthcare businesses there are sector specific nuances that a generalist may not be aware of – chat to specialists accountants to understand how they differ. Being with a specialist accountant does really help. If you need pointing to a specialist accountant, or lawyer please contact us.
- Deposit – have you got one? If not, start savings or having conversations with friends and family who may be able to assist.
- Start speaking with specialist lawyers, to identify one you have a rapport with and that understands you. I cannot emphasise enough how important having a specialist is to making the transaction as smooth as possible. Again, with some of the sector specific nuances there is no room for error. If you need pointing to a specialist accountant, or lawyer please contact us.
Visit as many practices to establish the location, size and type of practice you are looking for.
Once your personal finances are in order and you have identified a suitable practice then you need to arrange the funding to enable you to purchase it.
With all of the above BHH can help you through the whole process or elements of it.
If you would like further help with your first time practice acquisition please contact Laura for an initial conversation by completing the enquiry form if you are only available at certain times of the day or her mobile 07500 845184.