There are various reasons why it makes more sense to buy a practice as opposed to trying to grow organically.
Specifically:
- Actual client history, revenues, and results rather then projections and hope.
- Established and trained clients and referral sources.
- Trained staff.
- Assistance and training by seller.
- Opportunity for an additional revenue stream should you offer services the previous owner didn’t.
- Existing office space and equipment so you are ready to work and bill on day 1.
- If you already own a firm, significant bottom-line contribution due to the economies of scale.