Having your practice appraised by a trusted and reputable professional provides several benefits, not the least of which is giving you an idea of the value of your practice.
A critical component to a practice valuation is a comprehensive site visit, most often completed after hours.
Scenario: Would you hire a real estate appraiser or home inspector if they told you it isn’t necessary to come to a property in order to do their job well? Of course not.
The same standard applies to a practice appraisal. We will schedule a site visit, during a convenient time for you, to help complete our job in a thoughtful and thorough manner.
A professional practice valuation has many benefits, including the following:
- Provides an in depth quantitative analysis of your practice including a suggested value of the business
- Provides insight as to the strengths of the practice
- Gives insight and suggestions as to areas of improvement (if any) that an owner may want to consider in order to increase the value of the practice
- If a practice is listed for sale, a formal appraisal provides a defensible listing price of the practice if scrutinized by a potential buyer or their advisors, much like a real estate appraisal
- Can be used for estate planning
- Is used to assist in the facilitation of partnership buy-ins
- Is a critical component to Practice Continuance Planning