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I AM LOOKING TO SELL MY PHYSICAL THERAPY PRACTICE IN THE NEXT 2-3 YEARS? WHAT IS MY FIRST STEP TOWARD DOING SO

I AM LOOKING TOWARD SELLING MY PHYSICAL THERAPY PRACTICE IN SOUTH FLORIDA (N. MIAMI BEACH, HOLLYWOOD AND POMPANO BEACH LOCATIONS) WITHIN THE NEXT 2-3 YEARS AND WOULD LIKE TO KNOW HOW I WOULD GO ABOUT LOOKING FOR POTENTIAL BUYERS AND APPRAISING THE VALUE OF THE ENTITY. WHAT THINGS WOULD I NEED TO HAVE TOGETHER ASSIDE FROM P&L STATEMENTS; 941'S, ETC....AT THAT TIME???

DANIEL DEANE

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Answers (7)
Sir Kenneth Brett
Adoration Financial Investment
Financial Offer
Dodge County, WI

Do you need a investment loan??? We Adoration Financial Investment, we offer loans to commercial and private organizations, at an interest rate of 2.5% and amount ranging from $10,000 to a maximum of $100,000,000 usd. We also offer personal loans, debt consolidation loans, venture capital, business loans, student loans, home loans or "loans for any reason. Contact us now at: (adoration_grant@outlook.com)

Thanks
Sir Kenneth Brett

Aug 7, 2014
Rick Gruber
Realtec Business Brokers
FL
Premium Broker

I would humbly state that your first step should be knowing your desired result and working backwards from there. I know this sounds a little "outside the box", but let me explain.

Eventually with a successful sale, you will be removed from the business. You need to initially know how removed you wish to be from the business to formulate a plan to get to that desired point. (i.e., Will you stay on as consultant as some of your existing clients may wish, will you hold any financing as even with a traditional SBA you may be required to hold a second position note, do you want to have a small role in the business, or do you want to just cash in, buy a sailboat, and cruise the coastline!)

Seriously, these are your goal end points which need to be decided BEFORE you start the process. Metaphorically, it's like deciding where to go on vacation. The "how to get there" is actually the easy part.

Just so I don't come off as a crazy philosopher (have been called worse..lol), here is the "technical" items you want to do now.

1. Get your financial records in order. Have your accountant team coordinate and have a third party audited verification of your earnings. It speaks volumes when someone other than the seller says, "Yep, these are good financials."
2. Get the business lender pre-qualified. Once again it is very beneficial for a seller to have financing in place. Also, you might be able to qualify for professional practice financing which basically is a zero money down transaction for a buyer. (Check with your local SBA preferred lender)
3. Start something, anything, that could show a potential to ACCELERATE your sales. Don't rest on your laurels. Remember, buyers will pay for what they think they can cash-flow from the business as future earnings from what they derive as a best guess from review of your actual past results. When your accelerating going into a sale, your multiple can command a premium.

I will leave out the self promotion, but if you want to casually chat about developing a unique exit strategy (even just a second opinion) feel free to drop me a line anytime.

Best wishes on your future Sailing in Paradise!

Dave Britton
Realtec Business Brokers
813-444-3521

Jul 30, 2014
Keith C. Borglum CHBC CBB healthcare specialist
Professional Management and Marketing
CA

Florida law requires that your appraiser and broker be state-licensed in Florida. I'd suggest its also best to use a Certified Healthcare Business Consultant.
Keith Borglum
Florida licensed business broker
Certified Healthcare Business Consultant

Jul 7, 2014
Mel Vaz
Vested Business Brokers, Ltd.
Chief Operating Officer
Suffolk County, NY

I have recently sold a PT practice in NY and record keeping is the key. A buyer will only pay for what they can verify to be true and accurate. Make sure that you can account for everything and keep your records organized. That is a sure way to successfully sel your practice.

Jul 14, 2009
River's Edge Alliance Group, LLC
Rivers Edge Alliance Group, LLC
PA

Daniel,
Many of the questions you have asked will be answered in my upcoming webinar titled, "Is Your Business Saleable?"

In the event this may be of interest, a link to more information and registration is below:

http://www.riversedgealliance.com/contact-us/pages/webinar-flyer08_04_09.htm

I hope you will have the opportunity to join us. I am certain that we can get you pointed in the right direction. Thanks Daniel!!

Jul 14, 2009
Janelle Peralt
JP Business Brokers
Owner/Broker
Kerr County, TX

Daniel, It's critical to maxtimize growth and profit over the next 2-3 years. Make sure your records are good, and you have good detail to answer questions. Implement systems that will make it easy for a buyer to step in and run the business.

Good luck!
Janelle

Jul 13, 2009
No User Photo
How to Buy a Business
WA

For starters have properly maintained books and records so that potential buyers can get the data they need to assess your business without having to sift through shoe boxes full of receipts, invoices, and other pertinent information. You must also reverse gears in terms of your tax strategy and start focusing on making your ODCF or SDE look as big as possible, because that's what the sale price will be based on.

Jul 8, 2009

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