Sell Smarter + Save Big with High-Value

The PPS High-Value program is designed to help most doctors sell within 12 months. However, there are ways to encourage a faster sale. There are some sale structures that can help you sell faster. Sometimes a lower price point can help you achieve a fast sale. And sometimes a faster sale can be achieved by increasing marketing efforts. For example, “practice for sale” marketing is all targeted at chiropractors looking for practice sales – but at PPS we offer additional marketing opportunities that target chiropractors who are not actively seeking an acquisition but might be interested in your practice as an opportunity to leave a low-paying associateship or expand on an existing clinic group. Advisory services on all of these options are part of High-Value program.

The High-Value program is a FSBO program but comes with SIGNIFICANT support. So, in the High-Value program you receive a great deal of administrative support in the sale, taking approximately 80% of the sale marketing + administrative tasks off of your to do list – not to mention all the time (and money) saved by having PPS serve as your trusted resource for guidance and advice on practice sale norms and best practices.

A seller using the High-Value program for a straightforward sale that does not involve SBA financing might spend around 20 hours talking with prospective buyers + another 25 hours working on the actual sale, on top of time gathering practice information for PPS and other sale team members.

In the background, PPS is providing significant sale support; at the end of the sale, all of the PPS support averages about 20 hours of support services each month.

We have guided hundreds of practice sales and we have found that premium brokerage services are a poor fit for boutique practices. The smaller sale price doesn’t justify all the work done in our Full-Service program (typically around 300 hours), resulting in a fee that is too high relative to the sale price. And the data requirements + sale work in that program often feel too cumbersome for the boutique seller.

This leaves the boutique seller with discount brokers, and their low-effort model may seriously underserve your sale. This does you a great disservice, because your boutique sale still needs a lot of back-end support to thoroughly market + support the sale. And the one thing a discount broker will do for you, which is talk to buyers, doesn’t really help, either. This is because, while larger businesses sell primarily based on the profit of the practice, your boutique sale will be of interest to buyers for primarily the location, the technique, and the unique growth opportunities offered by your practice. The selling doctor can speak to these aspects of the clinic much more compellingly than the discount broker who has done little to learn about your clinic. Shockingly, most discount brokers are famous for slow response rates, which can do your sale more harm than good. Instead, what you really need is coaching + guidance to help you to best showcase your clinic + guide a buyer through a sale. These services – marketing, sale administrative support, coaching + guidance on the sale process and logistics – are consulting, not broker fees. And consulting is a flat fee, not a commissioned service. The great news is that this consulting program is not only the most supportive sale program for a boutique practice, but it also offers a significant savings over discount brokerages, which still charge you a significant commission of around 7% even though they primarily only introduce you to prospective buyers and then provide little to no sale support afterwards.

As an example, if your clinic sells at $150,000, your commission at a discount brokerage charging 7% would be $10,500. At our $399 monthly fee you would have to engage us for 26 months in order to incur the same $10,500 sale fee. An average chiropractic practice sale averages 12-18 months, so in this example you would enjoy savings on your broker costs between $3,500 – $5,700! And that’s just the beginning of your savings, as the highly supportive High-Value program also helps you to minimize your legal and CPA sale fees.

If it seems like Full-Service or High-Value could be a good fit, then we recommend that you obtain a Clinic Review. This is a precursory review of the clinic to determine the likely value range of the practice and which service package would be the best fit based on the uniqueness of your clinic. This is designed to be a low cost, low-time requirement service for the selling doctor – and the Clinic Review fee is applied to the service fees for any PPS listing package.

While the cost savings of the High-Value model can be attractive, it has not been designed for larger, more complex sales and will fall short in meeting the needs of larger clinics, especially those that will be sold through the SBA lending system. SBA lending has very rigorous requirements which are better served by the more thorough data preparation + premium broker analysis + support of the PPS Full-Service program. In a larger sale the broker will also be key in helping the buyer + their team understand the practice’s value and will serve a key role in directly guiding the larger + more complex sale directly through negotiations, due diligence + the lending process. While the High-Value program provides templates, guides + resources for the seller to do much of this on their own, those resources are built to meet the needs of a smaller and more straightforward sale and won’t be thorough or supportive enough for a larger + more complex transaction. This is also true for the support in the High-Value program, which is limited to 4 hours per month + comes from the PPS Team but not our Lead Broker. High-Value support is perfect for the boutique client, but neither the type of guidance nor the amount of support is optimized for the more rigorous needs of a larger transaction. This can result in less favorable sale structures + higher legal fees for the seller of a larger practice + failed sales due to the limited understanding of all parties involved.

We do require a Clinic Review before starting a Full-Service or platinum listing package. This process allows you to be sure you are comfortable with the estimated range of pricing in which we can likely list the practice before you make the investment in the upfront fee and data submission required for a full listing package. The Clinic Review also allows us to identify which listing package(s) would be a the right fit for your practice while allowing you to “test drive” working with PPS to be sure that we will be a good fit as your partner through the sale process. However, if you believe the High-Value package would be the best option for you – a Clinic Review is not required and for the most expeditious sale listing process, PPS can recommend that you start the High-Value Package without completing a Clinic Review.