Practice Sale Assistance- We are consultants that can assist you through the practice sale or purchase process with a guidance and oversight. We do not list practices for sale, and we are not a practice broker. We can help the seller with guidance how to sell direct without broker assistance. We can help the buyer with guidance how to properly source a practice to maximize goals and expectations.
- Price valuation/assessment; We can prepare a financial price valuation to maximize the practice sale value. This valuation is based on metrics used by bank underwriters when they review a loan to purchase a practice. Using our expertise, you can be guided upfront how to best qualify your practice for sale and buyer characteristics to purchase. This analysis will be a complete financial review for two to three years. We also will prepare a buyer projection for one-year post sale, to show the potential including growth metrics at 10%, 15% and 20%. This helps the selling process and allows the buyer’s bank to view the “new cash flow” post-sale.
- We assist you with guidance how to sell direct, source potential buyers, define any potential hurdles and create a action plan to sell for maximum value.
- Pre-Qualify buyers. Many buyers are not qualified, based on their credit history, time licensed, cash on hand, potential practice cash flow verses their debt and other potential pitfalls. Included in this process we will analyze whether the buyer will qualify for the office lease. We do not want the seller to waste time negotiating with a Doctor that does not have the wherewithal to buy and/or obtain a loan to buy. This is a very “important” segment of the process. Few can do this as quickly and as qualified as we can.
- We will act as your negotiator with the buyer or his representative to finalize price, deposit required and process to purchase (this might include a bank loan or seller carry back note). Let us handle this segment of the process in order that we keep the buying and selling process simple and friendly.
- Negotiate with the buyer should you want to stay on post sale with an agreement that offers you flexibility for this future employment. We can do this through an independent contractor agreement, a provider agreement or as an employee.
- Once the buyer is approved with a bank loan, or has the needed cash to purchase the practice, we can assist you with the needed documentation, or work closely with your attorney to prepare documentation that will be required and that will be beneficial to you. You will need a buy-sell agreement and other documents to prepare and meet the bank funding requirements. We can save you lots of time, effort and money.
- Will the buyer qualify to obtain the needed office lease? This can often break down an agreed upon sale. We prefer to qualify the buyer with your landlord upfront, before time is wasted.
- We will organize the entire process; keep you updated and allow you to continue to practice and keep the practice healthy as we stay engaged through the closing.
Selling and Buying a practice is a very emotional process. We prepare you for this journey and make it as simple, seamless and stress less as possible.
Price valuation/assessment; We can assist the buyer valuing a practice to be purchased and assist negotiating with the Seller. This process will include preparation for purchase and money needed for the deposit and full purchase. Let us negotiate a fair deal that meets your cash flow capabilities and creates a transition plan post sale.
- Two to three-year financial practice analysis and cash flow.
- Twelve-month full year post sale financial projection and goals.
- Assist obtaining a bank loan, negotiating rate, term and structure to best meet financial goals. This can include a Seller Note or other creative financing structure needed to purchase the practice.
- Coordinate all needed forms, financial information to obtain a loan to purchase the practice. In addition, we will organize the closing and nuances banks will require once your loan is approved. This will allow you to stay focused on your current position and we can keep the stress to purchase to a minimum.
- Assist with practice lease to help formulate plan for the landlord to approve you under the terms of the lease. Often banks require a five-year lease with a five-year renewal option. We can help you obtain what is needed.
- Assist with insurance requirements set forth by the bank or practice lien holder
- Negotiate with the seller should he/she stay on post sale with an agreement that offers you flexibility for his future employment. We can do this through an independent contractor agreement or as an employee.
- We can prepare standard buy-sell agreements and other documents needed to properly purchase the practice. This is normally the Sellers responsibility; we can assist you through this process and save you money. If you have an attorney, we will work closely with him to ensure you have a smooth transition to buy.
- Two-year post sale financial analysis to ensure a smooth financial transition and you maintain financial expectation. We can guide you through these numbers to help educate you on key practice metrics to be focused on.
- If you have a seller carry back note or high rate loan, we can formulate a two to three year action plan post sale, that will allow you to either pay-off the note, or refinance your practice loan in order to obtain a better rate and increase your practice and personal cash flow.
Buying and selling a practice is a very emotional process. We prepare you for this journey and make it as simple, seamless and stress less as possible.
Healthcare / Professional Practice Financing and Business Advisory & Practice Advisory
Supreme Doctor Consultantsa division of Supreme Products, USA | A wholly owned subsidiary of Bingo Lingo, LLC