06 Feb Chiropractic Practice Transitions | Oklahoma City
As a Chiropractor, you understand how hard it is to build a chiropractic practice from the ground up. This often takes individuals many years and great effort. You may still love working in the practice you have established. However, there will come a day when it is no longer the best decision for your career.
When this time comes, you must decide whether you’d like to sell your chiropractic practice or find another chiropractor who agrees to a chiropractic practice transition. There are many reasons why a practice transition is highly beneficial to each party involved. No matter which method you choose for the eventual sale of your chiropractic practice, it is always best to plan for the future.
What are Chiropractic Practice Transitions? Chiropractic Practice Transition is a method of selling your chiropractic practice that is overseen by a professional transition advisor. During the transition of your practice, you will work alongside the new owner of your practice.
This ensures that each detail of the transition benefits you as the current owner, the future owner, your staff members, and your loyal patients.
By participating in chiropractic practice transitions, you allow yourself the ability to slowly remove yourself from the chiropractic practice you have worked so hard to establish. In most cases, a practice transition is also the most financially beneficial way of selling your chiropractic practice.
Selling a Chiropractic Practice
When you first establish a chiropractic practice, the eventual sale of your practice is most likely the last thing on your mind. After all, this is your dream, right? However, in everyone’s life there comes a time where our dreams and life goals change. Whether this is due to age, life circumstances, or a move, you will eventually need to sell your chiropractic practice.
Working with a transition advisor early in the process can provide you with the maximum benefit when the time to sell your practice arrives. Many people reach the time of sale and begin to panic.
The amount of paperwork and other items which must be addressed quickly become overwhelming. This causes many chiropractors to panic and simply sell their practice as quickly as possible. However, this is never the most financially beneficial route.
Benefits of Chiropractic Practice Transitions
There are many benefits to chiropractic practice transitions. When the time arrives for you to sell your practice, a transition advisor works with you to determine any necessary improvements to your building or business. During this process, they will also assess the value of your practice to establish the price of sale.
Once your chiropractic practice is ready for the market, a transition advisor works to attract potential buyers. After finding an interested buyer, the practice transition advisor works to ensure that the entire process is handled properly. In addition, they take care of all the necessary paperwork. This provides you with peace of mind in knowing that no detail is overlooked.
A transition advisor works alongside you and the buyer of your practice during the transition period. By doing so, they ensure that the process goes smoothly for each party involved. One of the primary benefits of a chiropractic practice transition is that it allows you to care for your patients while ensuring them that their future is in capable hands.
This enables the new practice owner to begin to establish relationships with your patients. In this way, you are providing financial security for both yourself and the future owner of your practice.
Oklahoma City Chiropractic Transition Advisor
Jaquay Enterprise specializes in chiropractic practice transitions. As a team, they have many valuable years in the industry. Because of this, they are able to advise practice owners on how to gain the most financial benefit from the sale of their practice.
By using their expertise in the area of chiropractic practice transitions, Jaquay Enterprise has helped many chiropractors in and around Oklahoma City have a successful transition of their practice.
Even if you are not quite ready to sell your chiropractic practice, working with a transition advisor can be highly beneficial.
By establishing your plan for sale in advance, you ensure that the transition process with be both effective and efficient. In addition, you will have peace of mind in knowing that the future of your practice is secure.
In addition to chiropractic practice transitions, the team at Jaquay Enterprise also provides practice owners with valuable information on how to optimize the way they run their practice. This provides you with the opportunity to maximize your financial gain while you are still in practice. Jaquay Enterprise is passionate about helping each client meet and exceed their goals in business.
Contact Jaquay Enterprise with the information found at this link to discuss how chiropractic practice transitions can benefit you!