You’ve built one of the most successful clinics in the chiropractic profession. And your timing is impeccable – there is significant investor interest in clinics like yours. But selling an Extraordinary practice (generally one that collects over $2 million in revenue annually) is not simple or straightforward. While selling to an investor can be very lucrative, it’s also a much more complicated exit strategy than most chiropractors expect. Investors utilize complex sale structures + meticulous “quality of earnings” reviews that leave the selling doctor’s confused + overwhelmed. This transaction will likely be one of the largest + most complex transactions you are involved in, and it will also be a significant investment for your buyer.
Progressive Practice Sales (PPS) is the most accomplished brokerage firm in the chiropractic space, and we have the experience to help you to successfully + comfortably navigate this complex sale:
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Elite Packaging :: A first-class practice presentation is essential to justify + support elite pricing strategies
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Superior Buyer Exposure :: You need access to the select group of chiropractors + investors that have the resources + vision to take on an acquisition of this size
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Unrivaled Sale Preparation :: Thorough practice presentation is a must to smooth your sale process + overcome the treacherous due diligence process, where 50% of sales guided by an average broker are lost
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Intentional Sale Strategy :: Your complex sale requires a brokerage team focusing on intentionally designing your sale strategy at each step of your listing to fully optimize your sale outcomes
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Exceptional Support :: Your sale demands access to the most experienced members of the best sale team in the industry to advise + guide you through every decision during your sale
Not just any broker will be able to provide the support required to close a high-end, complex sale like yours. Inadvertently choosing a hands-off or discount broker could cost you hundreds of thousands of dollars and years of lost time. The Platinum program has been specially designed to meet the rigorous needs of a upmarket sale like yours so you can achieve the best sale terms, structure + price at closing.
Don’t Risk Costly Sale Mistakes
Get the insights you need to make the best decisions for your practice sale.
“It’s really overwhelming to sell a large business. There are a huge number of things that you don’t realize are important. PPS’s support has been incredibly helpful and the guidance has been very enlightening.”
- Dr. D. King, PPS Platinum Client
Why Sell Your Practice with
the PPS Platinum Program?
Built for Clinics Like Yours
Platinum is designed to serve the unique needs of an Extraordinary practice sale – which are very different from a standard practice sale. Get elite, exacting preparation + analysis to optimize your listing. Benefit from our experience shepherding large + complex sales to investors. And rest assured that your sale is benefiting from thorough strategic planning with consulting + guidance throughout your listing from our Lead Broker and the entire PPS advisory team.
Maximize Your Sale
The need for thorough data preparation can’t be overstated in the high-stakes sale of an Extraordinary practice. 50% of business sales fall apart when the buyer examines the practice data in due diligence, + the vetting will be intense in a sale of this size. Platinum protects your sale price + probability by conducting our elite, proprietary data analysis so the practice data is spotless before the buyer is ever procured.
Seize Key Opportunities
Your clinic has uniquely lucrative sale opportunities in today’s marketplace, but these sales are not simple or easy to navigate. The unsupported doctor can invest hundreds of hours of time – and tens of thousands of dollars – in these sales, only to walk away with nothing. The Platinum program is the most thorough resource you need to support + guide you to the most successful sale outcome.
Superior Marketing + Sale Exposure
PPS is the trusted resource for elite listings that are of interest to the chiropractic + investor buyers qualified to make purchases of this size. These high-end buyers love our detailed prospectuses, making us their broker of choice. And we are constantly expanding our upmarket buyer network, as PPS is the #1 ranked website for chiropractic practice for sale searches, averaging up to FOUR TIMES the practice sale traffic of any other chiropractic broker!
Listing Insights
Do you know what your broker is doing for you? At PPS you get a dashboard that provides real-time insight into your practice listing. Platinum clients can always call + talk to a member of our Client Concierge team during business hours, and have text, phone + email access to connect with our Lead Broker for sale + practice management guidance throughout their sale. This transparency and support makes a world of difference when navigating this life-changing event.
Protect Your Practice Value
You’ve sacrificed years (maybe decades!) of your life building this practice. Now that it’s time to sell, you owe it to your family, your patients + yourself to protect your investment and continue your practice legacy with expert sale support + guidance. Your Extraordinary practice deserves the Platinum program’s exclusive presentation + Lead Broker sale support. It will shine in the marketplace.
What You’ll Get in the Platinum Package
Expert guidance throughout your listing + sale
Avoid costly missteps with advice from our Lead Broker on your sale AND managing your practice while selling
Investor-focused sale strategy**
Strategies, pricing and processes designed to optimally support the specific needs of sales to large + institutional investors
Proprietary data analysis + organization**
Thorough data preparation + presentation so clinic can achieve maximum value pricing at closing
Beautiful, professional presentation of your practice**
Comprehensive prospectus builds value + speeds the sale by clarifying practice operations + benefits
Data-driven pricing recommendations
Meet sale goals with our in-depth market analysis to maximize your sale value or timeline
Professionally written + designed marketing collateral**
Beautiful + aspirational marketing stands among standard, boring practice sale advertising
Nationwide marketing campaign with top buyer exposure**
Get up to FOUR TIMES the web traffic + the most aggressive advertising of any chiropractic broker
Simple + confidential sale reporting**
See real-time insights into your listing performance + marketing
Management of prospective buyer inquiries
We receive initial calls, emails, web chats + social media inquiries to protect your time + privacy
Cultivation of buyer NDAs for your review
Get insight into a buyer’s background + stated ability to buy your practice
Industry-leading responsiveness to buyer inquiries for your prospectus
Rapid responses to prospectus inquiries keeps potential sales moving
Sale management
Serve as primary contact for buyers to guide, negotiate + manage your sale
Collect buyer feedback on the prospectus
Get valuable insight into how prospective buyers are viewing your listing
Keep marketing + listing fresh
Update ads weekly + practice data semi-annually to keep the practice listing relevant + timely
Sale Management by Lead Broker
Our award-winning Lead Broker will guide your sale from listing to closing, optimizing sale strategy + outcomes
**Exclusive service available only at PPS
The Platinum Program’s exclusive level of support results in the smoothest sale experience for sizable + complex transactions.
Initial Fee :: $4,000
Fee upon Successful Sale :: 10%
Contract Term :: 12-18 months
Success fee subject to minimum fees
Platinum Program Costs
Steps to Become a Platinum Client
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Schedule a complimentary consultation :: tell us about your sale goals + your practice
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Complete a Clinic Review :: get a preliminary opinion of value + test drive working with PPS
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Attend a Listing Review :: get a demonstration of the PPS Platinum Listing services
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Sign a Platinum listing agreement :: formalize working together so we can get started!
FAQs
What is the difference between the Platinum and Full-Service Listing Packages? The Platinum package is designed to meet the unique needs of the Extraordinary practice. These clinics typically generate over $2 million in annual gross collections and are in the top 1% of chiropractic clinics and business models. Clinics of this stature and complexity have a sale process that looks completely different, and the Platinum program is built to meet these unique needs from start to finish. The Platinum program packages your practice to support interest + best sale return from larger investors. The decisions made during the listing are also more consequential, so the Platinum program includes more access and support from the Lead Broker and Lead Business Analyst for the entire sale cycle. The Platinum program also includes a elite marketing package, with a higher marketing investment from the PPS team to promote your practice effectively to these uniquely qualified buyers.
How do sales to investors vary from sales to owner operators? Sales to investors are formal + complex business transactions that look very different from a sale to another chiropractor. Here are a few of the differences that surprise many doctors: -Investors require much more extensive due diligence which requires active management -Board approval for every aspect of the sale can draw out timeline -Investors often require seller to retain minority ownership position -Seller is required to stay active in the practice after closing -The investor is typically looking for a seller excited to grow the business, not leave it -A larger investor may be focused on buying the opportunity to learn what made you successful and replicate it -Buyer may not be an expert in the chiropractic field, which can create unique challenges during the sale and transition -Sales take much longer due to through nature of the investor acquisition process, which creates more opportunities for the sale to get off-track without extensive sales management
What kinds of clinics do you represent? We specialize in chiropractic clinics, including integrative + multidisciplinary clinics. This is where we have the specialized expertise, and also the best market exposure. However sometimes we do take on other listings, such as physical therapy, acupuncture or naturopathic clinics, as they have a similar and often shared audience in this marketplace.
What is your success rate? Our success rate has ranged annually between 80-85% of our listings. The number one reason that clinics that don’t sell is the seller gets too burned out and either closes the door before a buyer can be found or reduces their hours in a way that results in a declining business trend that renders the clinic unsellable.
How long does it take to sell a Platinum chiropractic practice? Industry-wide chiropractic practice sales average between 12-18 months. At PPS our average sale timeline is 7.9 months from listing to close. While our sale program is designed to sell practices in a year or less, larger clinics do often take longer to sell due to the intensive sale process involved in an investment of this size. Additional challenges like a lower-interest location or highly specialized clinic model can also impact the sale timeline. 99% of our practices sell in two years or less.
How long does the Clinic Review Take? It takes most doctors about 1 – 2 hours to fill out the initial form. Once we have confirmed the information provided for the Clinic Review is complete then it generally takes the PPS team approximately two weeks to complete the Clinic Review, depending on how many other Clinic Reviews are in process at that time, your responsiveness to any follow up inquires, and the quality of the initial information received.
How does it impact the value of the practice if the clinic numbers are down in 2020 and/or 2021? If the clinic has fully rebounded to pre-covid numbers, then buyers and lenders are typically granting a lot of grace for covid-related declines. However, if the clinic is still down based on monthly patient visits or revenue , then those lower numbers will likely factor heavily into valuation. That is one of the benefits of the Clinic Review, is it can help you to identify if it makes sense to list the practice now based on the clinic’s current status.
Do I have to do a Clinic Review before a listing package? 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 the optimal fit for your practice, and allows 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 prefer the High-Value package then a Clinic Review is not required.
Is the Platinum contract exclusive? We do utilize an exclusive contract for Platinum listings, which we find is in our client’s best interest. Working with multiple brokers exposes you to the risk of owing multiple commissions if a buyer works with both brokers without communicating that to anyone. Having multiple brokers also fragments sale efforts on your behalf, as lack of knowledge of all buyers and offers eliminates the ability to strategically move the sale forward with each buyer.
Why is there an upfront fee? Business sales require a significant upfront investment from the broker to prepare a practice valuation and marketing package. The broker should invest heavily in time and marketing dollars in the early stages of your listing, as that gives you a strong foundation for a successful sale. At PPS we invest over 100 hours in your Platinum clinic preparation and initial marketing package. To offset this heavy investment upfront, business brokers require an initial fee to offset those initial costs and also get a sign of “good faith” that the seller is committed to the sale. If a broker does not have an initial fee then the data preparation and marketing efforts they invest will be minimal, which will truly hurt your sale timeline and success.