Here's The Simple Truth...
Most of us who want to buy or sell our practices don’t succeed.
Why?
Is it because we’re bad businesspeople? No.
Is it because there aren’t any buyers out there? Most certainly not.
The real reason is usually quite simple:
We don’t have a lot of time, and want to simplify our lives. So we hire a broker and hope for the best.
Unfortunately, most brokers are more interested in their own bottom line than they are in your satisfaction.
Here at Sellingapractice.com, we do things differently. We're not brokers. We’re medical practitioners like you who have bought and sold our own businesses.
We know the potential benefits and pitfalls of each step in the process, and our mission is to help our colleagues to maximize the value of their practice and ease their transition to the next stage in their lives.
So, the only question remaining is,
Are you ready to do this right?
Good. Let's Get Started.
Step #1
Understand Where You Are In The Process
You really do need to know what’s involved in buying or selling a practice if you want to succeed in doing it right. (If you don't care, and just want someone to do it for you, click here!)
There are many steps in the process, but they may ultimately be boiled down to five stages. In order:
Where Are You in the Process?
Once You Know the Answer...
Step #2
Educate Yourself
We’ve created a free virtual library in order to help you understand how to succeed through each of the stages above. Each stage may have one big post, or several smaller ones. Click on the subject you'd like to know more about below. Want all of this information on one huge page? Click here. Or if you simply want someone to talk to someone who could do it all for you, click here.
How To Prepare to sell
You need to get organized before you can sell your medical practice. Learn what you need to do through our pre-sale checklist, and have the right questions answered before you sell.
Getting A Practice Valuation
The true value of a practice isn't a simple formula; rather, it's what a buyer is willing to pay. Learn about the different standards of valuing a practice and how to set the right price.
Finding A Buyer for Your Practice
Simply listing your practice for sale on a website doesn't get you a buyer. Learn the dos and don'ts and some unique methods to find that needle in the haystack, the perfect person to take over.
drafting A Sales Contract
Your purchase contract needs to reflect the uniqueness of your practice. Asset or Entity sale? How much will be paid up-front? What about employees? Learn some of the key questions to ask in order to create a contract that's right for you.
Transitioning After the Sale
Transitioning a buyer into a practice is a delicate process for you, your patients, and employees. Click here for some proven strategies that work to reduce attrition and ensure a smooth hand-off.
Check out this Infographic on How to Sell a Practice
Click to enlarge
We're so nerdy and excited about the subject that we created an infographic on the process of how to buy or sell a practice. Click to see it in greater detail.
Step #3
Talk To Us For Free
As fellow practitioners who have been in your shoes buying and selling our own medical practices, we know how you feel, and we’ve got your back.
There are three main reasons to give us a holler:
- You’re just beginning the process and aren’t sure where to enter in.
- You’ve been educating yourself and have some questions about some part of the buying or selling process; and/or
- You would like to delegate some or all of the process of buying or selling a practice. Reach out and let us know where you're at. Would you like to sell your practice? Figure out the value of a practice? Find a buyer? Write up a contract? Whether it's any or all of the above, simply give us some info and we'd be happy to discuss your needs.
Wherever you’re at, you’re not alone. We’re here to help. Reach out now.