How To Sell Your Chiropractic Practice Quickly
Posted on: 29 December 2016
Whether you want to retire or simply move your practice to another city or state, when you own a chiropractor's practice you can feel stuck in your location until you find a willing buyer. A real estate agent will work hard for you to get your property and its equipment sold as quickly as possible so you can move on with your life. Here are ways you can help to sell your practice as well.
Be honest about its profitability
Potential buyers care as much about how much they are gong to get out of buying your practice as they do what they will potentially put into it. You should have a professional business plan drawn up with several years' worth of projections in place so buyers can see where profits are expected to go based on your current success. The plan should include natural depreciation of the equipment you have (that comes along with the practice) and a client list of loyal customers the buyer can expect to receive as part of the sale. The more a new chiropractor knows what they will be getting into as far as profits, the more likely you will be able to sell the property fast.
Include a marketing plan
A new owner will have to promote themselves to gain customer awareness even if they are already affluent in their craft among your community. They will need to announce their new location and acquiring of your business, and this can cost money. Include a marketing plan with several mediums for promotion into the sale the new buyer can appreciate right away, including:
- advertisement
- radio slot
- print materials
You don't have to create and execute a full-blown and expensive marketing campaign, you just simply need to be willing to print some business cards or flyers, place an add in the phone book of new ownership of your building, or market to other local medical practices for referrals to your (former) business once it sells. This small investment can make a buyer feel more confident in their ability to make the chiropractic practice successful under their reign, which in turn can make it feel like a positive investment for them.
You may think that selling your chiropractic practice can take a long time to accomplish, but a quick call to your real estate agent can help put a plan in motion to get the property sold fast. Once you sell you can confidently move on to new adventures in your career.
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