Episode #21
The Dose Episode 21 – So You Want to Sell Your Practice (Part II)… with Michael Pote, CEO of The Growth Cooperative
April 1, 2019
Hello friends, Adam Cmejla back here again with Part 2 of my conversation with Michael Pote of The Growth Cooperative. In this conversation, we talk about the role that private equity has played in the transition and succession planning of optometry practices over the past couple of years. We talk about what private equity is, how it work, and a couple of different ways in which private equity is different than a clinical buyer of your practice (such as one of your associates, another OD in the same town, etc). We talk about the unique attributes that PE has when purchasing your practice as well as the two basic different kinds of PE business models that exist, and how each model will in part dictate the valuation a doctor receives and the post-sale lifestyle the optometrist will experience.
We also explain why most private equity valuations are higher than offers and valuations one would receive from another optometrist, and why PE firms can offer that valuation and still have it be a good ROI for them in the short and long term.
And be sure to stick around to the end, where we talk about the importance and examples of how making sure that your personal financial plans and intentions are in order can make the process of selling your practice much less intimidating and emotional and how to reframe the thinking of selling your practice from “closing the book on your professional life” to just “turning the page to a new chapter in your life.” As always, for more information on us or to access any of the resources we discuss in this conversation, please head over to www.integratedpwm.com to check out our show notes and any additional information. With that, I hope you enjoy part 2 of my conversation with Michael Pote.
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