Selling your practice is a big deal, there’s lots going on in your mind and that’s okay. It is completely natural to stress and think of all these negatives and play out situations in your head of something terrible happening, but let’s stop and breathe for a second. Selling doesn’t have to be hard, just like a good holiday you’ve got to plan and prepare, and here are 7 tips to help you get ready to sell your practice.
1. Prior Preparation
Before you plan on selling your practice do some research and see if you’re ready. Research the market and other practices in your area. You have to decide if it’s the right time for you, do you plan to move to another practice, how much are you wanting. You must ask yourself these questions before getting started
2. Grab your Mop and Bucket
Making sure your practice is clean and well maintained is a must. Just like buying a house you don’t want to buy something that looks like it hasn’t been taken care of and needs some serious TLC. Making sure your practice is clean and welcoming is huge when it comes to potential buyers.
3. Appearances Do Matter
Appearance is so critical that it would be unwise to ignore this when selling. The look and “feel” will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell.
4. Grab your Best Camera
Having good photos of your practice is essential to getting buyers interested. Similar to buying off the internet the photo of the item is all you have to go buy, when a buyer is looking to make a purchase they want to see a good looking, clean and well-presented clinic, so spending some time with a camera and getting the best possible photos is the best way to go, there’s nothing wrong with hiring a professional.
5. See it as a Business
Remember that you’re just selling a clinic (business). If you forget any emotional ties to the practice it’ll be a lot easier and a lot smoother to power through the selling process.
6. Ask for Help
Don’t be afraid to ask for help. Selling your practice can be tough and asking friends for some help even if it’s just some help cleaning on a weekend can be a life saver.
7. Stay Positive
Selling your practice isn’t a 2-day job, it’ll take time and in that time staying positive and making sure that you’re on top of everything will make the process a lot easier.
Using these tips and working side by side with Healthcare Practice Sales, we will make sure you’re ready to sell your practice and help you with every step of the way, from establishing a value to negotiating any conditions. Begin working with us and we will make sure it’s as easy as possible for you.