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Sell a Practice

4 Years Before You Sell:

  • Establish Your Goals
    What do you want to do after your sale?
  • Evaluate
    Have your practice appraised
  • Changes
    Identify areas that you need to improve upon and make necessary adjustments.
  • Delegate and Manage
    Be active in your Practice. Delegate different projects to your staff and observe revenue results.
  • Environmental Impact
    Is there any cause for concern with your current practices?
  • Real Estate Transfer
    Do you own the property? Are you going to sell the property with the business or lease to the new owner? Do you know of any zoning issues that could affect a sale?

2 Years Before You Sell:

  • Examine Finances and Bookkeeping
    Are your books in order for potential buyers to review? Are you financially ready to sell?
  • Facilities
    Make any necessary upgrades, repairs, painting, landscaping, etc.
  • Upgrade
    Are you using the most current equipment: software, computers, lab equipment, and machinery?
  • Check for Pre Payment Penalties
    If you have leased equipment, are there any pre payment penalties? How much longer do you have on your lease?
  • Make A List
    Document every piece of equipment that you own. This list needs to be maintained until closing.
  • Consider a Professional
    Have a professional review your Practice, plan your exit strategy, and price your Practice competitively.