Physical Therapy | Should I start a new business or buy an existing one?
Are you interested in buying an existing Physical Therapy practice or do you have what it takes to start a rehab company of your own? Only you can decide! This article from the Small Business Association can help.
Donâ€™t let insurance reimbursement stop you from fulfilling your dreams of owning your own business. BestPTcan take all the insurance reimbursement worries away. You can start up your new practice or sign up an existing practice to take advantage of our Outsource Billing Service and our Automated Practice System.
SBA.gov article to follow:
Buying a Business
Many find the idea of running a small business appealing, but lose their motivation after dealing with business plans, investors, and legal issues associated with newÂ start-ups. For those disheartened by such risky undertakings, buying an existing business is often a simpler and safer alternative.
The main reason to buy an existing business is the drastic reduction in startup costs of time, money, and energy. In addition, cash flow may start immediately thanks to existing inventory and receivables. Other benefits include preexisting customer goodwill and easier financing opportunities, if the business has a positive track record.
The biggest block to buying a small business outright is the initial purchasing cost. As the business concept, customer base, brands, and other fundamental work have already been done, the financial costs of acquiring an existing business is usually greater then starting one from nothing. Other possible disadvantages include hidden problems associated with the business and receivables that are valued at the time of purchase, but later turn out to be noncollectable. Good research is the key to avoiding these problems.
Article source: SBA.gov