marketing and selling a private practice
DESCRIPTION
This is a presentation from the 2013 ACA conference about selling a private counseling practice, and marketing a private practice for sale.TRANSCRIPT
Building a Counseling Practice
to Sell
Building a Counseling Practice
to SellThriveworks.comThriveworks.com
How can I build a practice that will... Stay in Business?
How can I build a practice that will... Stay in Business?
How can I build a practice that will... Not get Sued?
How can I build a practice that will... Not get Sued?
How can I build a practice that will... Help Clients?
How can I build a practice that will... Help Clients?
How can I build a practice that will... Could one day be sold?
How can I build a practice that will... Could one day be sold?
Even if you’re just getting started
It’s not Too EarlyEven if you’re just getting started
It’s not Too Early
Reasons to SellReasons to Sell
RelocateRelocate
Change Career / FocusChange Career / Focus
RetirementRetirement
To Get you in the Mood...To Get you in the Mood...
The Second HalfThe Second Half
The ProblemThe Problem
An “Unsellable” BusinessAn “Unsellable” Business
Do you know what your practice is worth?
Do you know what your practice is worth?
Multiple of RevenueMultiple of Revenue
EBITDAEBITDA
Rough FormulasRough Formulas
Often, an investor will want to recoup
investment within 3 years
Often, an investor will want to recoup
investment within 3 years
12 Ways to Build Value12 Ways
to Build Value
1) Brand1) Brand
2) Grow Beyond a Solo Practice
2) Grow Beyond a Solo Practice
3) Don’t leave potential unrealized
3) Don’t leave potential unrealized
“Potential co-operative marketing with other health related professionals in same location. Potential to expand professional referral network, expand hours/days of
operation or add complementary services. Huge potential to leverage social media
marketing for targeted local advertising.”
“Potential co-operative marketing with other health related professionals in same location. Potential to expand professional referral network, expand hours/days of
operation or add complementary services. Huge potential to leverage social media
marketing for targeted local advertising.”
4) Consider an Earn Out4) Consider an Earn Out
5) Finance the Buyer5) Finance the Buyer
6) Focus on New Clients6) Focus on New Clients
Which is Worth More?
A practice with four clinicians, all with full caseloads of long-term clients. The practice receives 20 new client inquiries per month.
A practice with two full-time clinicians, and
100 new client inquiries per month.
Which is Worth More?
A practice with four clinicians, all with full caseloads of long-term clients. The practice receives 20 new client inquiries per month.
A practice with two full-time clinicians, and
100 new client inquiries per month.
7) Credentialing7) Credentialing
8) Committed Staff8) Committed Staff
9) Quality Assets9) Quality Assets
10) A Good Lease10) A Good Lease
11) Honest & Open11) Honest & Open
12) Finish Strong12) Finish Strong
Final Thoughts: Letting Go
Final Thoughts: Letting Go
Dr. Anthony CentoreDr. Fred Milacci
Dr. Anthony CentoreDr. Fred Milacci
Thriveworks.com/Private-Practice
1-855-4-THRIVEThriveworks.com/Private-Practice
1-855-4-THRIVE