Years of experience in building your own fertility clinic has taught you the value of using your own judgment to make a career choice. It has also likely taught you the benefit of being well informed before making big decisions. Perhaps no decision will have a greater impact on your future than selling your fertility clinic.
Here at Professional Transition Strategies, we believe it is extremely important to be as well informed about selling your fertility clinic as possible. It all starts by asking the right questions. So today we are going to answer some of the most common questions that we get about selling a fertility clinic.
Why should I consider selling my fertility clinic?
Every doctor that owns a fertility clinic should eventually plan to sell. The key to a successful transition is having a well thought out plan and selling when the clinic is at its peak.
Professional Transition Strategies is a great resource when it comes to creating a plan to sell your fertility clinic. There are several steps that come before selling your clinic and we can help you prepare for the transition.
If you wait too long and your practice is declining, it won’t be as attractive to the buyer and the sell won’t be as lucrative. This is why we recommend selling your fertility clinic when business is at its best.
When is the right time to sell my fertility clinic?
When you decide to explore the option of selling your fertility clinic, let PTS help. It is best to sell the clinic on your terms, timeline, and type of transition, rather than the need to sell.
How long will it take to sell my fertility clinic?
Every clinic is different and how long it takes to sell depends on different circumstances. With that, it could take between one and three years to sell your fertility clinic. This is why we suggest to start planning early so you can sell at your clinic’s peak.
What are my transition options?
You have several different options for transitioning your fertility clinic. Some of your options are:
- Buy-in to buy-out
There is a right kind of transition for everyone and every clinic. It is important to speak with PTS to determine the right type of transition for you. We are here to help you understand each option because this is the first step in making the best choice for you and your clinic.
What can I do to prepare to sell my fertility clinic?
The first step in preparing to sell your fertility clinic is to meet with PTS to create a plan. From there, we will conduct a comprehensive Practice Appraisal. This will determine ways to make your clinic more profitable, and in turn, more valuable. Further, it is important to take the time to get your clinic in the best financial and operational shape as possible. Here are several ways to increase your clinic’s value:
- Increase top line revenue
- Lower your expenses
- Update your clinic
- Acquire or merge
In the end, whether you are thinking about or in the process of selling your fertility clinic, we are here to help. To learn more about the process of selling your fertility clinic, please feel free to contact us at any time.