Selling a Practice

Sell Your Chiropractic Practice

If you are thinking about selling your practice due to retirement or taking the next step in your career, we can guide you through the process. We will help you get the most return on the sale of your valuable practice. From the business appraisal to the closing table, our team members will answer your questions about every aspect of a transaction.

We utilize unique methods to value chiropractic practices because we know your business is all about personal relationships. Cookbook methods found online will never take this factor into account. We know that if a chiropractor cannot connect with a patient, then the patient won’t come back. For example, a coffee shop isn’t constrained to the same dynamic. Someone might complain about an unfriendly barista, but most likely that person will return for another latte in the future. This is not the case with a chiropractic clinic though. Our team understands the dynamic between doctor and patient, and our appraisals reflect the true value of that relationship.

When establishing the value of a chiropractic practice, our appraisals analyze the various components within a chiropractic business. These components include tangible assets, goodwill, accounts receivables, and leasehold improvements if you lease office space. Once these categories have been valued, we add them together and determine the total clinic value. Real estate is not factored directly into the business appraisals although we may reference its existence in the final appraisal.

What Is My Practice Worth?

How Long Will It Take To Sell My Practice?

Our goal is to set realistic expectations–there is no guarantee on time lines when selling a practice. It might take 6 months; it might take one year; the clinic may never sell. Many factors can influence a clinic’s desirability, which (right or wrong) can hasten or hinder a sale:

Geography: In general, metro area clinics sell faster than small town or rural practices. This geographic trend has really become evident with the rise of the millennial generation, and it isn’t going away any time soon. Younger folks want to be where the action is, in close proximity to “experiences” and “things to do”. This doesn’t mean, however, that your small town practice won’t sell. It may just take longer.
Type of Practice: General family practices tend to sell faster than specialized clinics simply due to the pool of potential buyers. There won’t be as many people looking for a Gonstead clinic as a Diversified one, for example. The more complex and intricate a clinic is, the longer it will take to find that perfect buyer.
Financing: Financing can be a factor as well. Clinics that are valued between $100-$300K tend to sell faster/easier than those outside that range. Very large clinics demand a sizable down payment which often limits the number of potential buyers. With these large practices, bank terms can also require a significant seller carryback, which may not be right for everyone. On the other end of the spectrum, very small practices can have trouble getting financing due to their oftentimes “skinny” bottom lines. What usually happens, in these cases, is that the buyer will have to pay cash for the practice.

Schedule a Free Consultation

We make dreams come true.

There is no cost or obligation during the initial consultation. We do not believe in having to open your wallet when trying to find the right broker. Once all parties agree to begin working together, that is when fees will occur. We have separate fees for business appraisals, brokering, and financial procurements which are all discussed BEFORE any party moves forward. Appraisals are paid for upfront and based on set fees, while brokering and financial provisions are paid at closing and based on a percentage. We only earn a commission when we successfully close a deal!

Discovery

Learn the process of buying and selling a practice.

FAQs

Addressing any potential questions or concerns.

Next Steps

If we are a good match, setting the plan for what is next.

How can our team help you?

If you have been wondering how much your practice is worth, how to sell your practice, or how to buy a practice, we can answer any questions you may have. We have experience with various types of practices and experience levels. Please explore our site to learn more about our services. We welcome you to contact our office and ask about business appraisals, selling your practice, buying a practice, or our listings.