How can updating the branding give you a fresh feel to an existing practice? Can the previous owner assist you in the transition? What did the process look like for people who have bought an existing practice?
In part 2 of this 2 part podcast, Alison Pidgeon speaks with Kami and Porter Macey about the benefits and challenges of buying an existing group practice.
Kami and Porter Macey are the owners of Amber Creek Counseling & Psychiatry in Sandy, UT. They purchased the business a little over a year ago. They have been married for almost 15 years and have 3 children.
In This Podcast
- Process of purchasing the practice
- Updating the look
There are different challenges that new practice owners face when they purchase an existing practice instead of building one from the ground up. There are new admin challenges, such as moving all the information from the previous owner’s name to your name; the wifi, the office space, the rental, the email addresses, and so forth.
As much as there is the general admin of managing a practice, there is this admin-intensive transitional period that lasts some time until everything is set out the way the new owners would prefer it to be.
Process of purchasing the practice
- Got the business evaluated.
- Gathered some loans together as well as their own money to save on interest.
- Paid the owner all at once.
Updating the look
They worked with the name Amber Creek to update and change their branding, giving their practice a new vision and giving it a new breath of life under new leadership.
- The Benefits and Challenges of Buying an Existing Group Practice, with Kami and Porter Macey – Part 1 | GP 43
- Group Practice Boss
- Group Practice Boss on Facebook
- Email Alison: firstname.lastname@example.org
- PoP Group Practice Owners Facebook Group
- Free resources to help you start, grow and scale
- Work with us
- Consult With Alison
Meet Alison Pidgeon
Alison is a serial entrepreneur with four businesses, one of which is a 15 clinician group practice. She’s also a mom to three boys, wife, coffee drinker, and loves to travel. She started her practice in 2015 and, four years later, has two locations. With a specialization in women’s issues, the practices have made a positive impact on the community by offering different types of specialties not being offered anywhere else in the area.
Alison has been working with Practice of the Practice since 2016. She has helped over 70 therapist entrepreneurs start and grow their businesses, through mastermind groups and individual consulting.
Thanks For Listening!
Feel free to leave a comment below or share this podcast on social media by clicking on one of the social media links below! Alternatively, leave a review on iTunes and subscribe!