HOW TO BE YOUR OWN BOSS Steps to Buying an Existing Practice vs. Starting a New Practice I want to buy an I want to start a Existing Practice New Practice Choose a Location Search for Available Practices Form a Business Entity Secure Your Finances Review Existing Practice Financials Evaluate Current Staffing Complete a Practice Valuation Decide What to Buy: Entire Entity or Goodwill and Assets Review Existing Office Details Execute a Buyer and Seller Agreement Organize Your Practice Secure Insurances and Hospital Privileges Obtain Permits and Licenses Staff Your Practice Market Your Practice Celebrate the Start of Your New Practice! Congratulations! You've navigated a long and winding path to successfully opening your doors and treating patients. Be proud of your achievements! For more information, visit apma.org/beyourownboss Thank you to Sara Karamloo, DPM, for providing content for this infographic and for her presentation on this topic at the YPI.http://www.apma.org/beyourownboss