Read the article at http://www.nytimes.com/2013/07/25/business/smallbusiness/sell-a-business-to-cover-retirement-dont-count-on-it.html.
The article builds on the some of the issues we discussed in our recent blogs.
The key message is to make your practice saleable, you need to:
- Build a practice which is not reliant on you or a few practitioners;
- Have a clear market offer;
- Have a broad patient or client base;
- Build a management team which both manages the practice and works to a strategic plan;
- Develop and train a reliable and talented group of staff which become assets for the practice rather than a cost; and
- Build a profitable practice with a proven history of financial results.
Pharmacy Snow Business Conference
Practice4Sale is a proud sponsor of the Medici Capital 2013 Pharmacy Snow Business Conference. The conference is being held at Mt Buller on August 10 to 14 and is a fantastic business conference for pharmacists. Practice4Sale staff will be attending the conference to hear presentations by pharmacy industry specialists from a wide variety of speakers, while also enjoying some turns on the ski slopes!
Presentation topics of the conference include business management, pharmacy values, pharmacy law update, wealth management and pharmacy rents. Up to 22 CPD points are available for pharmacists upon successful completion of assessment. For further information please call Medici Capital on (03) 9853 7933 or email office@medici.com.au. We hope to see you there!
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