Whether you are thinking about selling your medical practice or you have already set your mind to it, this article sheds light on whether your practice is attractive enough to buyers.
Alecto works with a lot of large medical groups around Australia. While we’re typically engaged for consulting projects and assisting with the recruitment of GPs, but we are also able to help connect potential buyers and sellers of medical practices.
Here is what the buyers are typically looking for in their acquisition strategy:
Planning ahead is the key to a successful business exit. If you are the owner and you’re the head GP at your practice, it’s even more important to plan ahead as it can add a lot of value to the business if you offer to stay on for an agreed upon period after the sale. After all, you carry a lot of goodwill that could potentially go away upon leaving the practice, a risk that buyers are very aware of.
By offering to stay on for a period after the sale (2-3 years), the buyer can better manage the transfer of goodwill and the transition and therefore is willing to pay a premium.
Many practice owners get carried away with their retirement dreams so much so that they have set their mind to an astronomical sale price. It’s not uncommon that expectations are out of touch with the real value of a practice. So firstly, you have to be realistic. Secondly, don’t settle for the value you have calculated on your own. Get a second and even third professional valuation done.
Schedule a free 15 minute phone consultation with one of our consultants.
Getting sales ready means to have the right documents ready for buyer prospects. Here is a list of common documents potential buyers want to scrutinise before they make a decision:
If you have any questions, please don’t hesitate to get in touch with us on firstname.lastname@example.org or call us on 1800 604 332.
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