Tuesday, January 29, 2013
Successfully Selling a Chiropractor Practice
Successfully selling a Chiropractor practice can be much more difficult than one might expect. As with the sale of any professional or healthcare practice, the sale of a chiropractic practice requires a level of skill, care and diligence that is not always found among the average main street business broker. For this reason it is important to select qualified professionals who are capable of handling the sale of Chiropractic practices. Having a DC, who has successfully sold a Chiropractic practice, as part of your professional advisory team can be a big plus and crucial to getting the job done. Professionals handling the sale of your business will be in tune with Chiropractic practice sales and will be able to guide you through some of the key components that will lead to the successful sale of the business.
Perhaps one of the most important components of selling a Chiropractor practice is confidentiality. This is probably the number one reason why a Chiropractor should hire a business broker to sell their professional practice. For most businesses any word that a Chiropractor is selling could result in a loss of business. This could not only be damaging to the present doctor but also to any doctor buying a Chiropractic practice. Using a Business Broker eliminates the need to ever having to openly advertise the Chiropractor practice for sale and a Business Broker can use confidential means of advertising and have perspective buyers fill out a standard confidentiality. D.C.’s who have successfully sold Chiropractic practices understand how invaluable this can be.
As with the sale of most businesses, selling a Chiropractic practice can be an emotional charged transaction, not only for the seller but also for the one buying a Chiropractic practice for sale. Having the assistance of business intermediaries who have handled the sale of many Chiropractic practices for sale is just good another reason one should use a Business Broker to handle the sale of the business or Chiropractic practice. Whether it is negotiations on price, guidance with obtaining financing or working out a reasonable transition period your business advisers will be able to help buffer situations of high emotion and keep the sale on track. This always creates a win-win for both the Buyer and Seller.
In the final phase of selling a Chiropractor practice, your business advisors provide the critical information that completes the sale and allows for a smooth transition of the business. Having a DC who has sold their own Chiropractic practice as well as assisted many others with the sale of Chiropractor practices is important in the final steps of the business for sale process. Business guidance and the transference of patients is an area where delicate hands can determine the future success of the business. Once again your professional advisors can be of tremendous value in this area.