From Beginning to End: The Timeline of Selling Your Practice with Erik Ferjentsik (Part 2)

  Hello, and welcome to this episode of 20/20 Money! My guest on today's show is Erik Ferjentsik, and this is actually Part 2 of my conversation with Erik. You can check out Part 1 by listening to last week's episode. Erik is the founder and principal of Visionary Practice Group, a firm that works with optometrists to broker, consult, and appraise their practice for transitions. In part 2, I pick up the conversation with Erik where we started talking about the difference between an asset and a stock sale and how to think about goodwill in your practice. We also discussed why it's so important to work with professionals on this type of transaction and compare it to selling your house with a realtor, only Erik does a great job talking about the glaring differences between the transactions. Erik also shares some ideas and strategies to think about after the transition to ensure that patient attrition is as low as possible, and he's kind enough to share his own personal experience that him and his wife have gone through as they've recently sold her practice…so he knows first-hand what it's like to go through this process. As always, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or check out any number of additional free resources like our eBooks and on-demand webinars and of course we'd be grateful for any reviews you can leave on iTunes and for your help in sharing the podcast with your friends and colleagues. And with that introduction, I hope you enjoy part 2 of my conversation with Erik Ferjentsik. Visionary Practice Group —————————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Play Stitcher  —————————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!