- Acquisition
- The purchase of an existing business, with details reviewed by qualified advisors.
- Diligence
- Structured investigation of a proposed business purchase with appropriate professionals.
- Working capital
- Money available to support ordinary business operations.
- Supplier terms
- The business arrangements governing purchases and payment to a vendor.
- Inventory spending
- Money committed to supplies and stock for the practice.
- Reorder point
- A reminder to review stock needs before supplies become too low.
- Overhead
- Ongoing costs such as premises, administration, and software.
- Receivable
- A billed amount not yet collected by the business.
- Coverage plan
- An agreed assignment of responsibilities during an absence.
- Handoff
- A transfer of responsibility and the context needed for the next step.
- Maintenance commitment
- The scheduled work and costs needed to support equipment operation.
- Continuity plan
- An arrangement for maintaining essential business functions during disruption.