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Timing the Sale of your Clinic

Posted by practicesales on April 16, 2018
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Timing is everything. Everything in life is based on timing. You wouldn’t organise a 3-week holiday if you had to start a new job in 2 weeks. When it comes to selling your healthcare practice the timing of your sale is huge.

If you’re thinking of selling your medical clinic, timing should be one of the first things to think of. When it comes to selling a practice, each sale takes time. There isn’t one standard time that every practice is sold at. Yes, some practices do sell after a couple of weeks, but most practices take at from 3 to 6 months on average, and of course very practice owner thinks that their practice is a great, successful, well established practice, but not every potential buyer out there will love the clinic and want to spend $100,000 on the spot.

Choosing the right time to sell your practice is key to having an outcome that you will be happy with at the end of the sale. If your lease is due to expire in 2 months and you just start the process to sell your practice, there is a high chance you are going to end up taking less than you originally wanted for the clinic. This is because the sale takes time from gathering financial information to receiving a professional valuation and then listing the practice. That alone can take 2 weeks on its own. As said before on average a practice takes between 3-6 months to sell. If you have to sell your practice in 2 months there is a high chance that by the time a legitimate highly interested buyer comes along you are going to have no time left to sell and will end up taking a low offer just to get the practice sold. Spending the time to think about your sale and thinking ahead, preparing information and not leaving a couple of months to sell or have to close your clinic will make sure you get exactly what you want from your practice.

Rushing anything in life will always end in either an unfinished product or a final product that is no where near as good as it could have been. This is the same when it comes to selling your healthcare practice. Making sure you have the time to sell and aren’t trying to rush yourself in anyway can be the difference of you getting what you want from the sale or ending up, almost giving away the clinic you have spent years building up.

If you are wanting to sell your practice contact us here at Healthcare Practice Sales and we will help you get the most from your hard work.

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