The replay from the live June 11 2020 webinar is now available. This is a webinar I give annually and I have personally been involved in practice sales for the last 8 years, and have helped over 100 practice owners sell their entities and/or assisted other to acquire or merge with entities. MANY THERAPISTS ARE PANICKING BECAUSE OF COVID 19 AND FEEL LIKE THE VALUE OF THEIR PRACTICE IS GONE. This is NOT true and I will modify this webinar to discuss this in details, You do not have to have a fire sale or be taken advantage of. I DO THINK THAT THE TREND TOWARD CONSOLIDATION IN THE FIELD WILL BE ACCELERATED BECAUSE OF COVID 19 and this will be discussed as well.
The sale of your practice should start long before it is announced publicly. Proper preparation is essential. The trend toward consolidation has been ongoing for several years and COVID 19 will only accelerating it with both private equity firms and individual practitioners as potential buyers.. 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. 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.
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
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 YES YES!!!! if you are considering buying another therapist’s practice, this info is VERY relevant for you too!
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. 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. The recording includes the Q/A and handouts as well.