First, a note from our President and Founder:

"This month we would like to take a moment to recognize and congratulate our Business Systems & Financial Analyst, Mike Proa. Mike is officially a designated MAI Appraiser. Obtaining an MAI designation is no easy feat. MAI appraisers spend several additional years obtaining further education and experience beyond state-certified appraisers. The designation demonstrates the appraiser has invested a considerable amount of time in improving their valuation and analytic skills. We know how hard and how long Mike has worked for this achievement. With that said, from all of us at Private Practice Transitions, CONGRATULATIONS!!!

- Justin Farmer, Esq., CBI

President & Founder of Private Practice Transitions

FEATURED BLOG:

Why Business Owners Need an Opinion of Value

Do you own a private practice? Would you like to sell it someday to transition into retirement or another business opportunity? If yes, you need a broker’s opinion of value performed by a qualified business broker, or valuation expert. An opinion of value is an integral part of selling a private practice. It helps you determine your business’ worth, and what it could sell for in today’s market.

To discover how an opinion of value works, and why you need one, continue reading our most recent blog, Why Business Owners Need an Opinion of Value.

Listing 1202

For over 23 years, this physical therapy practice has offered a wide range of therapy services to its clients including physical therapy, occupational therapy, and several other specialty services. The Practice’s success can be attributed to the high level of care, personalized attention, and sense of community established with each patient. Mason County has continued to experience rapid residential growth, resulting in an impressive 9,722 patient visits in 2022 alone. Additionally, for the past three (3) years, the Practice has averaged impressive gross revenues of $946,023 (2020-2022). The Practice currently employs eleven (11) individuals, including the Owner, who is willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed-upon period up to one (1) to two (2) years.

Listing 1212

Over the past 26+ years, this Seattle Practice has offered a wide range of tax and estate services to both business and individual clients. The Practice’s service by revenue breakdown is 45% Individual Tax Preparation and Planning, 20% Business Tax Preparation and Planning, 27% Trust & Estates Tax Preparation and Planning, 4% Reviews & Compilations, 2% Bookkeeping, and 2% Other. Including the Owners, the Practice has five (5) staff members serving its ~850 active clients. Over the past two (2) years, the Practice has averaged impressive gross revenues of approximately $1,825,000 (2021-2022). The Practice’s success is in large part due to the dedicated and seasoned staff who are highly skilled with a strong focus on customer service. This Practice is poised for growth and increased revenue under new ownership.

Listing 1221

Established in 2000, this Washington Practice has offered a wide range of tax and accounting services to both business and individual clients. The Practice’s service by revenue breakdown is 53.2% Consulting, 22.8% Individual Taxes, 9.5% Corporate Taxes, 6.5% Write-up, 4.6% Estate Taxes, 2.3% Audit Protection and 1.1% State Taxes. Including the Owner, the Practice has two (2) staff members serving its ~320 active clients. The Practice has experienced year-over-year growth each of the last three years with an incredible 13.2% YoY growth from 2021 to 2022. The Practice is known for providing high-quality tax and accounting services and receives a lot of word-of-mouth referrals from happy clients. Additionally, the Practice is nearly 100% virtual, so a new owner can take the book of business over from anywhere!

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