Building a successful reproductive clinic took years of hard work to establish a good reputation, loyal patient base, and dependable staff. Whether or not you are ready to retire, selling your clinic might be one of the most difficult decisions of your career. But, if you are armed with the right knowledge and a great transition broker, it doesn’t have to be!
Today we are going answer some FAQs on how to sell a reproductive clinic.
Should I sell my reproductive clinic?
Every reproductive clinic owner should eventually plan to sell. As doctors grow older, needs and circumstances change. Change that can be stimulated by disability, IRS judgements, divorce, or just being burned out. But, for whatever reason you are thinking about selling, with proper planning and assistance, you can get well compensated for you life’s work. There are many steps that come before selling your clinic that can help you prepare for the transition. This is why we recommend working with a transition broker. Our brokers at Professional Transition Strategies have had years of experience and are here to help you through every step of selling your reproductive clinic.
When should I sell?
The key to a successful transition is sell a reproductive clinic at its peak. This is why we suggest to plan far in advance so you are able to get the best value for your practice. If you wait too long and your clinic declines in income, patients, or revenue, the sale won’t be as lucrative. Further, it will be a red flag to buyers and the transition could take longer than planned. Overall, the longer you wait, the opportunity to plan and direct the course of the sale declines.
Do I really need to work with a transition broker?
In short, yes. Having an experienced, reputable transition broker significantly increases the probability of a smooth, successful transition. But, you don’t want to entrust your clinic with just anyone. PTS is experienced in providing assistance with partnerships, affiliations, and mergers, to name a few. Further, we are the only transition broker that has a focus in reproductive medicine. Your PTS consultant will meet with you one-on-one to discuss your personal goals for the transition. From there, we will conduct a comprehensive Practice Appraisal to determine ways to make your practice more profitable.
Our team of professionals is here to advise and mentor you throughout the selling process. So, if you have any questions or specific concerns, one of our specialists will be there for you. You can learn more about our team here.
Overall, selling a reproductive clinic doesn’t have to be difficult — especially if you are working with the right transition brokers. If we haven’t answered all of your questions on how to sell a reproductive clinic, we encourage you to contact us — we are here to help! But, if you are still in research mode, you can check out our other blogs: Should I Sell My Fertility Clinic?, Common Concerns When Selling a Fertility Clinic, and What You Should Know About Selling a Fertility Practice.