Video Website powered by Einstein IndustriesCalifornia Practice Sales Incorporated

We talk about having a financial house in order from a buyer’s side. We are talking about making sure that you pay your bills, making sure that you do not overextend yourself on your credit, making sure that if you get ready to go to the bank that we are going to have something that we could be proud of when the banker opens up your credit file and takes a look what you are dealing. From a seller’s side, we want to make sure that all the financial stack up right. In other words, everything adds up. If you have two offices, make sure that you have those offices with separate financial statements even though your CPA may say that it is less costly to do it and put everything together. When it comes to wanting to you sell one of those offices, you are going to run into a major problem. So, we always tell the sellers keep your financial situations for each of your offices:

1. Make sure that it is something that can be explained, seen, and touched.

2. Make sure that you have everything separate from everything else.

If you do that, it makes the job a lot easier to get the loan approved for the buyer and the whole idea is if we can't get the money, we can't sell the practice.