Selling Your Practice.
You’ve read about it. Thought long and hard about it. But this idea of selling your practice is challenging. No different than selling the home where you’ve lived and loved for the last 20 years, raised your kids, full of memories, selling your practice may have even bigger implications. Let’s make sure we handle it with care. What do I do from here? Is it enough for me to retire on? Who will take over the care of my patients if I leave? What if I don’t want to leave…yet?
The Growth Cooperative can assist with each of these questions helping you arrive at a solution that is right for you. We assist you with:
- Practice valuation – What is my practice worth? The short answer is whatever someone is willing to pay. Our edge over the market is that we know, and have relationships with, those buyers who can provide you with the best offer.
- Choice of buyer – Do I find an associate who will take over my practice? Sell to one of the chains who will transform my store into a particular brand? Sell to a private equity firm? Hard to know. We can help you choose the path that is right for you.
- Getting the best price – The Growth Cooperative works with individual doctors, larger groups and private equity firms to ensure that your practice is the right fit on the buyer’s needs. Finding the right fit is the key ingredient to getting the best practice sale price.
- Ongoing employment – What if you’d like to keep working? GREAT! Most buyers are looking for their practice sellers to stay for at least a while. Transition is important We’ll help you negotiate the employment agreement that is right for your plans.
- Trust Account – Getting a check for a very large lump sum of cash may be the worse scenario for you. Why? At that moment, you have incurred a very large taxable event and it will cost you perhaps hundreds of thousands of dollars. We can help ensure all of the money you receive continues to work and earn for you until you need to withdraw it. We’ll tell you how.
In between those big ideas is the daily effort to satisfy the due diligence effort your buyer is conducting to affirm his decision about buying your practice. We are there every step of the way, so you can continue to practice.
Call us for references. Our consultations are free, and our services are paid for, if and only if, you have a successful practice sale. Secure your future. Secure your family’s future. This is your moment.