Buy vs Build Convo #1: purchasing a low-revenue optometric practice vs cold starting with Erich Mattai

<p class="MsoNormal"><span style= "mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"> Welcome to another episode of 20/20 Money. My guest on today's show is Erich Mattai with Akrinos. My conversation with Erich is essentially one of two conversations that I had with two different guests (the second guest/conversation will be next week's episode), all focused around one question: what should someone do if they're considering buying (or selling) a low-revenue private practice. To put context around this number, we're talking about private practices that are grossing somewhere between $400-700k in collections. The question that I posited to Erich was how a future owner should think about the decision matrix of whether to buy a "fixer upper" practice with possible latent potential or whether they should forego that practice and just strike out and cold-start on their own. We discuss financing the purchase of an existing practice compared to a cold started. We also have a spirited discussion around this topic as well as how an owner can evaluate the ROI of an established practice vs a cold start over the long term.</span></p> <p class="MsoNormal" style="line-height: 150%;"><span style= "mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"> </span></p> <p class="MsoNormal" style="line-height: 150%;"><span style= "mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">As a reminder, you can get all the information discussed in today’s conversation by visiting our website at <a href= "http://www.integratedpwm.com/">integratedpwm.com</a> and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also <a href= "https://integratedpwm.as.me/?appointmentType=1713824">set up a 20-30min Triage conversation</a> to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow,