Dr Ernst

August 31, 2022

Video Transcript

What areas of your practice have seen the most impact? Do you have growth stats you can share?

Good morning, I'm max Ernst and I recently transitioned my practice of 36 years to a new owner with the guidance and support of Williams consulting. When I started thinking about retiring and selling the practice, there were two conditions I felt were important. First, a fair price, but second, I wanted the office to remain a private practice. A lot has changed in our industry in 36 years. The latest wrinkle is the venture capital purchases of many practices. I looked at that process about six years ago, but it really wasn't for me. I didn't like the end result, what the office would become and it felt too impersonal and was an exercise in bean counting the venture capital pathway may be right for many others, but it just wasn't for me. When I met a young prospective buyer about three years ago, I knew I wanted a different process. Williams was recommended to me by a colleague. So I contacted the office and had a few preliminary discussions. The Williams team took the time to explain the process, which seemed straightforward, so I decided to go with them. Every senior doctor, the old guy thinks the practice is worth a lot. Every junior doctor, the new kid thinks it isn't worth anything. After gathering of business and tax information, the Williams team brings a price to the buyer. What I found important and very helpful was the explanation of that price. Making sense of the number. Let me have confidence. I was asking a fair price. The price is then presented to the buyer and the Williams team again, takes the time to explain. Not only is this a fair price, but how the buyer can pay for the loans and still operate the office. This is again a valuable tool. So all parties are treated fairly. We spend our lives building and operating a practice in the end. We want to finish our time as owners on a high note, and so I would like to thank the team of Williams for their support throughout the process. In the end, I was very satisfied and I'm off to a happy retirement. Thank you all very much.

Produced with Vocal Video