Chiropractic Practice Valuation Service
Kelsall Steele Accountants and Business Advisors are able to accurately value the goodwill in your practice based on the extensive chiropractic experience of Mike Hutchinson, Ross Martin and the team.
What is the purpose of a valuation?
Having a valuation prepared will give you an accurate value for the goodwill in your chiropractic clinic at the current market rate.
This can be used for a number of different purposes, the main reasons being:-
1) To obtain a goodwill value to use when selling a chiropractic practice. Although the valuation will not determine the definitive "sale price" it is a figure which can be used to start negotiations. Chiropractic Practice Valuations are used when selling to external buyers and associates. A bound report will be provided at the end of the process, which is useful to present to potential purchasers.
2) To obtain a goodwill value to use when buying a chiropractic practice. A practice valuation is often desired when buying a clinic for peace of mind that the value is reasonable. This can also be useful when applying for finance.
3) To obtain a goodwill value used when transferring your business, i.e. from a sole trader to a limited company.
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What we do during the valuation process
When preparing your practice valuation, we would do the following:-
Gathering Information
The first step is to gather the necessary information required
- Financial data (at least 3 years where available) in the form of financial accounts - This helps us to analyse the "past performance" of your practice
- Any available management information - This enables us to review recent results
- New patient numbers and details - To establish the vibrancy of the clinic
- Full background details of your clinic, including systems and how the clinic operates (gathered via a site visit or phone conversation with one of the valuation team) - This helps us to understand the clinic's future potential, current marketing strategy, any direct and indirect competition, any tenancy arrangement as well as the position and suitability of the building you trade from.
- A freehold valuation (if applicable) that you will need to obtain from an estate agent or independent commercial valuer. It is advisable to get several valuations and select a mid range. We will then also include the value of the freehold in the valuation report. (*)
- A list of items that will be included in the sale (if applicable) This includes all fixtures, fittings and chiropractic equipment. We will then also include this summary in the valuation report. (*)
(*) - Only required when selling the chiropractic practice.
Preparing the report
When preparing the report we use a tested model based on the actual clinic sales to value the goodwill in your chiropractic practice, which takes into account the above. (We are involved in over 20 per year in one form or another) After we have gathered the information we will prepare the report in draft, ready for further discussions with you.
Advertising
We can also advertise the practice in our "chiropractic practices for sale" section to assist you with the actual sale.
Our service
We offer fixed fee, agreed in advance, to prepare the valuation.
For more details contact us using our short online enquiry form or using the details below
T: 01872 242800
E: support@finance4chiropactors.com