Services we offer to buyers are comprised of 5 major components
The service we offer to buyers are comprised of 5 major components:
- business appraisal
- legal/documentation and
Most of the D.C.'s that approach us as buyers do not have a specific clinic in mind. However they do usually have a general idea of how and where they want to practice. We assist with finding a specific practice to purchase. We'll match up the buyer with the practice that suits them. The primary matching parameters we use are geographics, practice style, and doctor's personality, however, additional factors may need consideration as well.
Once a clinic is identified and appropriately matched, the next question the buyer will have is "what is this practice worth?" Practice Brokers, Inc. has performed thousands of chiropractic business appraisals. This appraisal will provide an accurate value of the goodwill, all of the equipment, accounts receivable, and any leasehold improvements.
When a buyer hires Practice Brokers, we represent them and work on their behalf. The brokering services we provide cover everything from start to finish. Having completed hundreds of chiropractic sales, we bring a wealth of expertise into every transaction. We assist in resolving the issues and concerns that arise when buying a business, as well as negotiating all the terms of the sale.
As you can imagine, there are many documents needed to consummate a business transaction such as this. We are fully prepared for that task. One of the founders of Practice Brokers is an attorney and she personally creates and oversees all legal documentation involved in the transaction. In addition she interacts with the buyer and sellers attorneys and accountants to insure that the spirit of the transaction is maintained. The legal services involved in the clinic acquisition are included as part of our buyer’s representation service.
This can be the most difficult part of a transaction. It's not just about asking for money. Choosing the right lender, presenting the proper financial data, knowing which questions to ask are just a few things to consider when obtaining funding. Providing you with a business plan, assisting with cash-flow projections, and navigating through the various banking requirements are some examples of what you can expect us to help you with
So, what does our service cost? Our services are tailored to each buyer’s situation. Perhaps the buyer has identified the practice they want to purchase and they just don’t know what to do next. Or the buyer hasn’t chosen their final destination yet and in addition to everything else, they need help narrowing the field and locating prospective practices that fit their vision. Once we know what level of assistance the buyer needs, we customize a fee arrangement with the buyer that fits the situation.