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The Dave Kittle Show: How the San Diego Padres’ Team Chiropractor Acquired a Chiro Practice with Dr. CJ Epstein
Written by: Dave Kittle
Buying a practice is becoming more common these days. Buying an established business means immediate cash flow. A financial history of the company will give you a sense of what to anticipate and may make it simpler to get loans and draw in investors. Existing clients, relationships, goodwill, suppliers, staff, plant, equipment, and stock will be acquired. As for you, would you leap forward by acquiring an existing practice, or would you rather start your own from scratch? What are the risk areas that you should watch out for in transitioning a business?
This week's The Dave Kittle Show episode, Dave Kittle will be joined by Dr. CJ Epstein. Dr. CJ is a chiropractor and practice owner of Team Elite Chiropractic in San Diego, California. He also currently serves as the Team Chiropractor for the San Diego Padres, and has been with the organization for the last 4 years.
In this episode, we will touch on such topics as:
If you are purchasing a practice out of an ad or through somebody else with whom you don’t have a good relationship, things will get tougher for you to manage the business on your own.
Assume you buy a practice and believe you have everything and that business can continue as usual, but the real challenge is finding someone to replace some employees who used to work in that business but are no longer on the payroll.
The buyer and seller of the business need to have a trusting relationship.
For new graduates or someone looking to purchase a practice who doesn’t have the skillset to manage a business, be transparent with the seller and come up with terms to have a good way to sell their practice.