PERTH & MANDURAH 08 9367 4222

08 9367 4222

If you’re a medical specialist and considering buying your own private practice now or in the near future, you need to consider whether you want to buy an established practice or set up a new practice. Each option will have its own pros and cons, and your decision will ultimately depend on your circumstances and your goals.

Buying an Established Practice

When buying an established practice, typically you will pay for the whole business including plant and equipment, client base and goodwill.  You may also be required to take over any existing lease arrangements and employ existing staff.

The advantages of purchasing an established practice include:

Some disadvantages you need to consider include:

Setting Up a New Practice

Starting from scratch allows you to set up your business exactly how you want it. You choose the premises, set up the business processes, hire the staff and fit out your practice in a way that aligns to your personal vision.

The advantages of setting up a new practice include:

You may need to consider the following downsides if starting from scratch:

Deciding whether to purchase an established practice or setting up a new one will depend on your unique goals and circumstances as there is no ‘one size fits all’ solution. There are also other things you need to consider when starting your own practice. At Launch Finance, we can help you navigate the process of purchasing your medical practice, ensuring convenience and peace of mind.

Speak to one of our brokers today on (08) 9367 4222 or email [email protected] and our award-winning team can help you work towards purchasing your medical practice.