Be aware that internet fraud is rampant. Be sure to read ourt articles on how to buy or sell on the intenet. If you suspect a fraudulent buyer or a scammer, please contact us.
List your practice for sale. It’s easy. And Free!
Best Practices matter! We’ve learned that buyers want to be sold. So give them what they want. Our practice listing tool prompts you to ‘sell’ your practice. So sell it. Sell the community. Sell the lifestyle. Let proespective buyers know why your practice is a great buy. The video below will guide you through the best way to complete the form and get your practice sold.SELLING YOUR PRACTICE - ARTICLES & RESOURCES
10 Things to Know About Sweat-Equity Buyouts
For new graduates of chiropractic colleges who are saddled with thousands of dollars of student debt, it may feel impossible to build or buy a practice any time soon. Luckily there is a way to buy a practice in a matter of years, while gaining fundamental clinic experience — through the sweat-equity buyout method. Ten things to know about SEBO: A SEBO arrangement allows associates to join a practice without putting down money and earn the down payment to buy a practice down the line. It’s considered beneficial for both the buyer and the seller, who is typically a retiring chiropractor looking for a reliable exit plan. The SEBO method also allows for seamless patient transitions, as the associate and the patients will become familiar with each other over the course of the agreement. This buy-sell strategy is common among
Selling Your Chiropractic Practice: Should You Use a Broker or Go It Alone?
It’s no secret the chiropractic industry attracts maverick personalities. That means when it’s time to sell the practice, many chiropractors are tempted to do it themselves. This can save the chiropractor some money on a broker’s fee. However, without clinic sales experience, the juice may not be worth the squeeze. Going the “for sale by owner” route means the chiropractor will need to accurately price their own practice, organize their finances for the past few years, find a buyer, guide the buyer through the sales process, negotiate, draw up a contract, work with the bank and assist with the transition. While the FSBO method certainly can be done, it comes with risks that can easily be avoided by using a broker or sales consultant who specializes in the chiropractic industry. How Brokers Can Help From the start, a broker can
10 Transition Tips for Chiropractic Clinic Buyers and Sellers
Buying a practice is one of the on ramps [LINK] to business ownership and career success for chiropractors. A huge benefit of buying is that it comes with a built-in transition process between buyer and seller. Here are 10 tips to get the most out of the transition: Buyers Buy from someone with a similar philosophy and personality. “If you’re buying from a guy who’s really gregarious and he can get up and give talks, and he’s extremely motivational and has a lot more energy and personal power than you do, I would not buy a practice from that person, not without a really long transition,” says Kevin Misenheimer, a broker with Progressive Practice Sales in Chattanooga, Tennessee. Look for a seller who would be a great mentor and who has time to give a proper handoff. Typically retiring doctors
The Do’s & Don’ts of Marketing Your Chiropractic Clinic for a Sale
When it’s time to sell the practice, chiropractors want to close the deal efficiently and get the most value possible. However, many first-time sellers find it’s easy to unknowingly get in their own way. Avoid common missteps with the following tips: Do Clean Up Your Books Buyers will want to review profit and loss statements and tax returns for at least the past three years. Get a head start by cleaning up expenses a few years ahead of the sale. “A lot of doctors are extremely aggressive. They try to write everything off, and they try to bury a lot of that, under a section on their P&L called advertising,” says Sam Reader, a chiropractic consultant. Many write-offs can be added back to the profit line before a sale, but the bank will challenge excessive add backs. Don’t Sell for
‘Fire’ Sale: How to Sell a Chiropractic Clinic ASAP
The average chiropractic practice takes about 12 to 18 months to sell, but sometimes sellers need to move more quickly. In the event that a chiropractor passes away and can no longer practice, or if a doctor is simply burned out and ready to call it quits, there are a few steps to take to get the most value out of the practice. The first and most time-sensitive task is to find a cover doctor who will fill in and see patients in the interim. “If you close the doors for a period of time — even just a month or two — it’s going to be very difficult to get any value out of it. Once you close the doors, [patients are] going to quickly find their way to other chiropractors in town,” says Kevin Misenheimer, a broker with
How Much Is Your Practice Worth? Basics of Practice Valuation
Whether for retirement planning, a sale, a future partnership or even a divorce, chiropractors will need a practice appraisal at some point in their careers. Practice valuation is best conducted by a consultant or broker who is well-versed in the nuances of the chiropractic industry. This ensures the valuation is fair and as accurate as possible. A Simple Valuation Method While an appraisal will include an in-depth look at tangible and intangible assets, experts have a simple way to gauge value for practice owners looking for a rough estimate. The simplest way to value a practice is to use a multiple of net cash flow. For a quick estimate, chiropractors can take a practice’s net cash flow — or the income after expenses like rent, utilities, insurance, staff salaries and other debts are taken out — from the last fiscal
10 Things to Know About Sweat-Equity Buyouts
For new graduates of chiropractic colleges who are saddled with thousands of dollars of student debt, it may feel impossible to build or buy a practice any time soon. Luckily there is a way to buy a practice in a matter of years, while gaining fundamental clinic experience — through the sweat-equity buyout method. Ten things to know about SEBO: A SEBO arrangement allows associates to join a practice without putting down money and earn the down payment to buy a practice down the line. It’s considered beneficial for both the buyer and the seller, who is typically a retiring chiropractor looking for a reliable exit plan. The SEBO method also allows for seamless patient transitions, as the associate and the patients will become familiar with each other over the course of the agreement. This buy-sell strategy is common among
Selling Your Chiropractic Practice: Should You Use a Broker or Go It Alone?
It’s no secret the chiropractic industry attracts maverick personalities. That means when it’s time to sell the practice, many chiropractors are tempted to do it themselves. This can save the chiropractor some money on a broker’s fee. However, without clinic sales experience, the juice may not be worth the squeeze. Going the “for sale by owner” route means the chiropractor will need to accurately price their own practice, organize their finances for the past few years, find a buyer, guide the buyer through the sales process, negotiate, draw up a contract, work with the bank and assist with the transition. While the FSBO method certainly can be done, it comes with risks that can easily be avoided by using a broker or sales consultant who specializes in the chiropractic industry. How Brokers Can Help From the start, a broker can
10 Transition Tips for Chiropractic Clinic Buyers and Sellers
Buying a practice is one of the on ramps [LINK] to business ownership and career success for chiropractors. A huge benefit of buying is that it comes with a built-in transition process between buyer and seller. Here are 10 tips to get the most out of the transition: Buyers Buy from someone with a similar philosophy and personality. “If you’re buying from a guy who’s really gregarious and he can get up and give talks, and he’s extremely motivational and has a lot more energy and personal power than you do, I would not buy a practice from that person, not without a really long transition,” says Kevin Misenheimer, a broker with Progressive Practice Sales in Chattanooga, Tennessee. Look for a seller who would be a great mentor and who has time to give a proper handoff. Typically retiring doctors
The Do’s & Don’ts of Marketing Your Chiropractic Clinic for a Sale
When it’s time to sell the practice, chiropractors want to close the deal efficiently and get the most value possible. However, many first-time sellers find it’s easy to unknowingly get in their own way. Avoid common missteps with the following tips: Do Clean Up Your Books Buyers will want to review profit and loss statements and tax returns for at least the past three years. Get a head start by cleaning up expenses a few years ahead of the sale. “A lot of doctors are extremely aggressive. They try to write everything off, and they try to bury a lot of that, under a section on their P&L called advertising,” says Sam Reader, a chiropractic consultant. Many write-offs can be added back to the profit line before a sale, but the bank will challenge excessive add backs. Don’t Sell for
‘Fire’ Sale: How to Sell a Chiropractic Clinic ASAP
The average chiropractic practice takes about 12 to 18 months to sell, but sometimes sellers need to move more quickly. In the event that a chiropractor passes away and can no longer practice, or if a doctor is simply burned out and ready to call it quits, there are a few steps to take to get the most value out of the practice. The first and most time-sensitive task is to find a cover doctor who will fill in and see patients in the interim. “If you close the doors for a period of time — even just a month or two — it’s going to be very difficult to get any value out of it. Once you close the doors, [patients are] going to quickly find their way to other chiropractors in town,” says Kevin Misenheimer, a broker with
How Much Is Your Practice Worth? Basics of Practice Valuation
Whether for retirement planning, a sale, a future partnership or even a divorce, chiropractors will need a practice appraisal at some point in their careers. Practice valuation is best conducted by a consultant or broker who is well-versed in the nuances of the chiropractic industry. This ensures the valuation is fair and as accurate as possible. A Simple Valuation Method While an appraisal will include an in-depth look at tangible and intangible assets, experts have a simple way to gauge value for practice owners looking for a rough estimate. The simplest way to value a practice is to use a multiple of net cash flow. For a quick estimate, chiropractors can take a practice’s net cash flow — or the income after expenses like rent, utilities, insurance, staff salaries and other debts are taken out — from the last fiscal