Where to Start
For Sellers
The first step for a Seller is to determine the Fair Market Value of the practice and establish the tax allocation of the purchase price. This is accomplished by performing a formal Practice Appraisal. The Appraisal is a necessary step for all transition types (even Associateships) because it is used to determine not only the purchase price and tax allocation for an eventual sale, but also the amount of compensation for an Associate. Further, the Appraisal can help determine whether or not the transition plan can be supported by the financial realities of the practice and whether or not it's the right time to sell.
After the practice has been appraised and a Buyer has been identified, we would then move forward with the transition process by creating the first drafts of the transitions documents. These are working documents meant to spark discussion and actively engage both parties in the negotiations. It is at this point that you would elect to either work together with the Buyer in a fair and neutral manner to quickly and affordably accomplish your mutual goals (Dual Representation), or have us represent your interests alone (Single Representation of the Seller).
If you need assistance in finding an Associate, Partner or Buyer, please register for our Practice Matching Program.
When you are ready to get started with a Practice Appraisal, you will need to request an Engagement Letter.
For Buyers
The first step for a Buyer is finding an opportunity. If you need assistance in finding an opportunity, please register for our Practice Matching Program.
Once an opportunity has been identified, you can either work together with the Seller in a fair and neutral manner to quickly and affordably accomplish your mutual goals (Dual Representation), or you can have us represent your interests alone (Single Representation of the Buyer). In either case, reviewing the Appraisal is the first step. Once the purchase price and tax allocation have been agreed upon, we would then move forward with the transition process and either present first drafts of documents or review first drafts of documents, depending on the type of representation.
When you are ready to engage our services, you will need to request an Engagement Letter.