Thinking of Selling Your Chiropractic Practice?
Selling your clinic, like selling anything, can take time and effort in sourcing all the right people to help with each different part of the process.
The associates at finance 4 chiropractors all have experience in different areas (accountancy, legal, banking, finance etc) but all specialise in chiropractic to ensure that help is always at hand and through one central contact number.
The Process
Step 1 - Finding out the value of your practice.....
Valuing a clinic is a task that many practice owners take on themselves. Generally people speak to other chiropractors in similar sized businesses to get an indication of what they have sold for and base their valuation on that. However, using a professional to value your clinic does have benefits by ensuring that you have accounted for all aspects and have assessed the market value correctly and independently. It may also add strength to your side of the negotiation process.
Kelsall Steele uses a comprehensive valuation model that is recognised by the BCA and using the 15 years of experience in this field, Mike Hutchinson and his team value approximately 3 clinics per month.
For details on the 7 factors the model considers please click here
To find out more about valuations of goodwill, read the article Free Guide to Goodwill Valuations and contact us for a free quote.
Step 2 - Advertising the clinic .....
We have consistently been able to bring together vendors and purchasers though a variety of methods:
- Advertising space on our website (text and up to 5 images)
- Advertising space in our monthly newsletter
- Make contact with our database of chiropractors looking to purchase a clinic
- Take enquiries and filter, arrange and co-ordinate visits to the clinic *
- Help to move onto the next step of the process.....
* you will be responsible for meeting with potential purchasers and negotiating
Step 3 - Finding finance for your buyer
Getting an offer for your practice and accepting it is a fantastic step forward to selling your clinic. However, from past experience, until your potential buyer has suitable finance in place, the deal is by no means secure.
finance 4 chiropractors have access to excellent sources of finance for practice purchase and typical past scenarios are:-
- We can often source up to 100% of the goodwill
- Large loans for recent college graduates
- Preferential deals and low rates of interest
- Unsecured options available
- Lease finance options available for equipment
Many finance deals are dependent of certain financial insurances being in place (such as life cover and permanent health insurance)
Our dedicated financial advisors are very familiar with these transactions and have procedures in place to avoid delays in obtaining the finance. We also co-ordinate all of this to avoid the hassles of "form filling" time and time again for each different application made.
Contact us for information on finance options or a free quote.
Step 4 - the Legal aspects.....
When selling a clinic, there will be a number of legal issues to address. Our commercial lawyer, who specialises in the transactions involved with the sale and purchase of chiropractic practices has designed systems to ensure a smooth transfer of documents. View his page....
If you are indeed selling your clinic and would like us to get involved with the process above, for all or just one of the steps, please contact us on :
T: 01872 242800