There are value makers and value takers in every practice. Do you know what yours are????? More and more corporate entities are buying up practices across the country. Find out who are they and if you are missing the boat or making a deal with the devil.
The sale of your practice should start long before it is announced publicly. Proper preparation is essential.
Not since the consolidation in our industry back in the 90’s has there been so much interest in therapy practice sales, mergers and consolidations. Regardless of whom you might end up selling to, two points to always keep in mind are that (1) anything that increases the volume or the security of future revenue will increase the value of your practice, and (2) what makes your practice valuable to you will make it valuable to a buyer.
1) Understand the specific criteria used to determine the valuation of a practice, including EBITDA, goodwill, infrastructure etc. and what are viewed as value makers versus value takers in the industry.
2) Understand the steps necessary to prepare your practice to bring it to market and when to get this process started
3) Find out the financial preparation and forms you need to have in place and for review during due diligence
4) Discuss differences between an outright acquisition, merger, and structured buy in and what determines the best fit for your scenario
5) Understand what makes negotiating with a fellow therapists versus a corporate entity so different and how
you can level the playing field
6) Discuss the pros and cons of using a broker or intermediary and what makes a qualified buyer
7) See what you need to do so that you can answer the #1 question: “Can this practice exist without you?”
8) Understand the steps necessary in selling a practice including non disclosure agreements (NDA), letters of intent (LOI) and purchase agreements.
YES YES YES!!!! if you are considering buying another therapist’s practice, this info is VERY relevant for you too!
This webinar is to take the angst out of selling a practice and present the information in user friendly, logical steps. The issue will be presented from both the perspective of the buyer and the seller. Live Q/A!
This webinar is presented by Iris Kimberg, MS PT OTR
CEO of NYTherapyguide.com who, on her own, sold her therapy agency in a multi million $ deal to a Fortune 500 company. She has worked on valuations of many practices and helped sell over 2 dozen OT PT and ST practices in the last number of years.
Iris has presented this material for the APTA PPS conference and privately to over 300 therapists. $95 includes access to the material, powerpoint and webinar with Q/A 24/7/365