"August has arrived, along with the bittersweet end of summer. Whether this vacation season saw you warm and relaxed on a beach, or cool and collected in an office building, I hope it was a great one. However you spent your time, I am sure this summer had you thinking about the remainder of 2022 and beyond. Maybe it was the joy of taking time off to be with friends and family, or long hot days spent daydreaming of a new adventure. Retirement or a shift in professional focus may be the answer to mid-year woes. We at Private Practice Transitions are seasoned in helping find the perfect buyer to continue your legacy or the right business for you to acquire. Give us a call, and we will be happy to guide you along the right path for your business, and your future!"
- Justin Farmer, Esq., CBI
President & Founder of Private Practice Transitions
QUOTE OF THE MONTH:
“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.”
– Jack Welch
UPCOMING EVENTS
2022 APTA Washington Conference
PPT will be exhibiting at the 2022 APTA Washington Conference in Lynnwood, WA October 14th-16th. Stop by our booth #402 and enter for a chance to win our giveaway. One winner will receive an Olive and Cocoa gift basket full of goodies! Follow #2022APTAWAConference on social media to stay up-to-date with all that's happening at the conference. We hope to see you there!
EMPLOYEE SPOTLIGHT:
Meet Justin
This week's team spotlight goes to our Founder & President, Justin Farmer. Justin spearheads our team in business consulting and brokerage services. Justin works directly with our clients who need strategic planning for acquisitions and succession planning. Justin is a lawyer, licensed real estate broker, and entrepreneur. As a lawyer, Justin has served as an Assistant Attorney General, private practitioner, and legal recruiter. Justin has combined his passion for business, entrepreneurial spirit, and business experience to form Private Practice Transitions.
We are so fortunate to have a leader like Justin who provides our team with endless dad jokes, hilarious puns, and constant encouragement.
FEATURED BLOG:
Common Mistakes When Buying a Physical Therapy Practice
Buying a physical therapy practice can be a lucrative investment. However, regardless of how prepared you may be, it is still going to be a huge undertaking. It is easy to make mistakes along the way, and any one of those errors could set you back, both financially and professionally.
For nearly 40 years, this Washington CPA firm has offered a wide range of services to both business and individual clients. The Practice has a diverse, loyal, and growing client base of ~2,200 active clients. The Practice is full-service and excels at tax preparation and planning, business advice and consulting, providing bookkeeping, accounting, and financial statements, as well as business valuation and personal financial planning. In 2021, the Practice accomplished a 24.1% year-over-year growth with gross revenues of $3,565,322. Additionally, the Practice has seventeen (17) staff, including the Owners who are willing to continue employment and/or provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed-upon period, if desired.
Listing 1209 - Coming Soon!
Over the past 27+ years, this Snohomish County law firm has represented countless clients in the community. The success of the Practice is in large part due to the Practice’s tenure with consistent word-of-mouth referrals from former clients and excellent online reviews. The Practice’s service by revenue breakdown is 90% Personal Injury Law, 5% Estate Planning, and 5% Probate. The Practice has approximately ~170 open files. Over the past three (3) years, the Practice has averaged impressive gross revenue of approximately $788,215 (2019-2021). In addition to the Owner, the Practice currently employs three (3) paralegals and one (1) administrative assistant. The Owner is willing to provide full-time transition assistance for up to one (1) year for mutually agreed upon compensation and is willing to be ‘Of Counsel’ to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions if desired. The Practice is completely ‘turn-key’ and ready for new ownership.
If you are interested in either of our August Featured Listings, email us and indicate the listing name and number in the subject line or call us at 253.509.9224.