Merging your practice can be a really attractive option?

Whilst merging may at first glance seem a little daunting however; once you understand how it could help your practice prosper, it is actually a very smart business choice. It’s a popular choice with practices struggling to build revenues and bottom line in the current challenging environment. One of the first steps in deciding if merging your practice is something you would benefit from is understanding the outcomes of such a move. Below we have summarised some of the business levers and gains clients like you have realised from this choice.

•Release some of your equity for cash

Sell a share of your company and release some of the equity as you merge into the new group.

•Substantially increase your GRF

New products will increase the level of existing services in turn the gross recurring fees will rise from your client base that will add value to clients and profit to you.

•Reduce your cost base

The cost will be reduced as overheads are shared and duplications are reduced plus staffing can be reviewed.

•Niche new high value products

Your clients will benefit by being offered high value new products, this will have a dramatic impact on your turnover and profit. Also your clients will be delighted and will recommend other clients to the practice.

•Increase your turnover

Release the latent value and potential for extra services that exist within your client based which can increase your turnover