How to Valuate & Sell a Physiotherapy Clinic
Are you thinking about selling your physiotherapy practice? Now is a great time to consider selling your physiotherapy business. The Healthcare industry continues to grow and evolve. One of the biggest sub-sectors of healthcare is the physiotherapy field. More and more people understand the important role rehabilitation plays in their overall care after a health event. This also means an increasing number of people are now using physiotherapy.
Within healthcare, there is a large trend toward specialization. Health and wellness organizations want to offer diverse and specialized care to their potentials. Therefore, many health practitioners and investors are looking to add physiotherapy practices to their organization. This provides owners of physiotherapy businesses a great opportunity to sell and get top dollar for their practice. The first step, before you sell, is to understand how much your business is worth. For most, this means working with an Ontario business broker to get a business valuation.
Start With A Valuation Of Your Physiotherapy Business
At Beacon, our expert team can provide your business with a proper valuation. Our team will assess your financial documents, tax returns, and all other accounting records to assess the health of your practice. We’ll also look at your assets, strategic partnerships, growth potential, and identify the sales price for other similar practices in your region. Using this information we can provide you with an accurate and unbiased valuation. The business valuation process will also identify weaknesses and opportunities to create even more value for your business.
Key Considerations When Selling Your Physiotherapy Business
There are many factors that can affect your decision to sell. These same considerations can impact how much you can ask for your company. Here are some top things to consider when assessing the viability of selling your company:
- Location: Most physio businesses are purchased by buyers who are already in the industry and looking to expand their presence. Location is a huge consideration. Buyers want practices that are located in busy and growing areas.
- Client base: Does your practice have a strong client base? Is it growing? Do you have a strong roster of repeat and long term clients? Buyers are looking for stability and growth potential.
- Other products and services: What else do you offer? Does your practice offer additional related services or health products to support your practice? This is a great way to quickly increase profits and generate more sales.
- Strategic partnerships: Do you have strategic partnerships with other healthcare practitioners? Do you regularly get referrals from doctors in your area? How strong is your referral network? Are there ways you could leverage these partnerships more to expand?
- Areas of specialization: Offering specialized care or techniques help your practice stand out. It can bring in new clients looking for specific types of care and help your dominate a niche market. It also makes your business more attractive to potential buyers.
How To Sell Your Physiotherapy Business
Selling your physiotherapy practice is a process. It involves taking a series of steps in order to find the right buyers and maximize the final sales number. In general, here are the steps involved with selling:
- Get a business valuation
- Hire a business broker
- Prepare your sales and marketing plan
- Promote your business for sale
- Identify potential buyers
- Negotiate with buyers
- Select the best offer
- Due diligence
- Close the deal
- Transition out of the business
At Beacon, we can help you complete all steps required to sell your company. We are your trusted advisor throughout the sale of your company. We work collaboratively with you to strengthen your business and market it the right way to get the best offer possible.
Sell Your Physiotherapy Business With Beacon
Are you giving serious consideration to selling your physiotherapy practice? Now is a great time to sell. There is a lot of interest in health-related companies for sale. Speak with our business brokers to learn more about the process and the potential money you can make from the sale. We are happy to answer your questions and provide you with a business valuation.
If you are going to sell your company, do it the right way. Take peace of mind in knowing you took all steps possible to avoid issues and get the best value possible for your company. Contact Beacon Advisors to start the process of selling your physiotherapy business. We look forward to working with you.