Replay Now Available from the 10/4/23 Selling Your Private Practice – What You Need to Know
This replay of the full 2.5-hour webinar is now available and includes all the live Q/A! We had a great turnout for the 12th annual live webinar Selling Your Private Practice – What You Need to Know. I have personally been involved in practice sales for the last 12 years and have helped well over 130 practice owners sell their entities across the country. The last three years have been extremely busy; COVID as a stressor, the continued consolidation trends in our industry and the retiring baby boomer generation of practice owners all have contributed. This year particularly, with 6 deals already done and 3 more in the works, strengthens my belief that therapists MUST start to plan their exit strategy/succession plans earlier than most currently do.
The sale of your practice should start long before it is announced publicly. Proper preparation is essential. 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 should make it valuable to a buyer. More and more corporate entities are buying up practices across the country. Find out who are they (a comprehensive list will be provided) and if you are missing the boat, making a deal with the devil, or might be better off selling internally to someone in your practice or a local competitor.
Included with the replay:
(1) the 35-slide hybrid stand-alone powerpoint
(2) Purchase price allocation form and explanation
(3) a listing of Private Equity firms interested in practices
(4) Interviews with 20 therapists who have sold their practicesso you can get an inside view of what it is like. I think you will see that the consensus is: Life after selling a private practice is not just a financial transaction; it is a life-changing event.
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 therapist 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
and tax allocations of purchase price and implications to be aware of.
9) Life after the sale! It may not be as easy as you think!
YES !!!! if you are considering buying another therapist’s practice, this info is VERY relevant for you too!
NO!!!! Don’t wait until you “have” to sell – plan for the sale of your practice from the day you start it!
This webinar takes the angst out of selling a practice and present the information in user friendly, logical steps and is presented from both the perspective of the buyer and the seller. You can take a post webinar quiz and get a certificate of participation for 2.5 hours.
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. Iris has presented this material for the APTA PPS conference and privately to over 1000 therapists. The recording includes the Q/A and handouts as well.
DOES this webinar qualify for CEUs? It depends on your state. Many states have approved this course to count for CEU credits because I outline how the course is relevant to OTPT and ST practice, give a post webinar quiz that demonstrates competence and understanding of material and a certificate of completion. Check with your state. I do not submit the course to the APTA, AOTA, or ASHA although I have given the webinar for the APTA in past years.
Thank you to our sponsors.
David Kittle www.fieldmakergroup.com
Cole Health
Yellow Bus ABA
Liberty Post
$125.00