Sell or Transition Your Chiropractic Practice
Smarter
We can help you maximize your practice value
and avoid common or costly mistakes
The Path to a Chiropractic Practice Sale or Transition
There are 5 Phases to successfully sell or transition your chiropractic practice
— and we can help you with any or all of them.
Phase 1: Exit Planning
To increase your chances of a successful sale or transition, it’s best to gather info about the options you have, transition strategies and the sale process. This is a great time to speak to financial advisors and family about your post-chiropractic goals and dreams. To get an overview from the perspective of the chiropractic profession and to discover common pitfalls or costly mistakes to avoid, consider our Ultimate Chiropractic Exit Strategy program, which was specifically created for this purpose.
Phase 2: Build to Sell
Once you get closer to your desired exit date, it’s time to take specific steps to build the value of your business and position your practice attractively to potential buyers. This is a critical time because the appraised value of a chiropractic practice generally looks at the past 3 years’ worth of performance. So fine-tuning your practice just ahead of that three-year mark allows you to enter your “vital value years” prepared to maximize the full potential of your practice value and at a point in time where it can make a big impact on your upcoming sale or transition.
Phase 3: Valuation
The “home stretch” of your transition occurs when you are within 3 years of your anticipated sale, exit or transition. At this point, it is critical that you get a formal valuation to determine the fair market value of your practice and help you plan the best route to reach your goals. Without this vital piece of information, you cannot reliably estimate what your practice is worth, what you can anticipate in terms of retirement needs and when you should sell or transition. Worse, if they do not have a fair price that allows you and an interested prospect to move forward, your sale will stall or fail at this phase.
Phase 4: Finding & Financing Your Prospect
When you know your chiropractic practice value, the next step is clear: the search for the person that will fit your plans. For most DC’s, this phase takes the longest time because you must find a prospect that wants to live in your state, in your area, practice in a similar style to you, who is interested and financially able to purchase a business in your price range AND do all this in a mutually agreeable timeframe. That’s a lot of factors to line up! Finally, even if you’ve found a prospect, you may need to go back a step (Value) before you can meaningfully move forward and/or this phase will focus on securing financing options for your prospect to buy (beyond owner financing).
Phase 5: Sealing the Sale or Transition Deal
All successful chiropractic practice sales or transitions end in the same way – by creating a written agreement to “seal the deal.” Getting to this phase is not necessarily an easy task as it requires an agreement on price, financing & transition terms and more. Regardless of whether your plan is to sell, offer an associate buy-in or buy-out, partnership or other transition option, the process is not complete until you get it in writing. Then, it’s to time celebrate! Click here to see some of our recently SOLD chiropractic practices – we’d love to help you get there too!
Transition Webinars & Resources
Exit Essentials WEBINAR
The Ultimate Exit Strategy Book
Not Ready Yet WEBINAR
About Our Chiropractic Practice Sale And Transition Programs
I didn’t plan to help chiropractors sell or transition their practice, but…looking back at my own practice sale, there were so many elements in the process that could have been improved to help BOTH me and my buyer. After years helping clients work smarter IN their business, I began to assist them with their practice transition and sale starting by planning sooner, reviewing options and then walking them through the phases of their sale – so that they could all avoid the common and costly mistakes that I felt could have been prevented in my own sale. Fast forward a decade, this is now the focus of the work we do at Strategic Chiropractor. So whether you are looking for a chiropractic practice broker to sell your business, a consultant to help walk you through the steps or a coach to help you grow (then sell) — I’d love to help you work SMARTER getting OUT of practice!”
What Our Clients Are Saying…
I would have sold my practice for pennies on the dollar without Dr. Tom…
If I did not have the help of Dr. Tom Necela and the Strategic Chiropractor team, I would have sold my practice for pennies on the dollar! Dr. Tom helped me from A to Z and I would definitely recommend that anyone looking to buy, transition or sell a chiropractic practice get his help!
MARIO FUCINARI, DC // Past President, Illinois Chiropractic Society.
Speaker on Billing, Coding & Compliance
Dr. Tom sold my practice much faster than expected, for a fair price, with ease…
Dr. Tom Necela & the Strategic Chiropractor team helped sell my practice much faster than expected for a fair price. He and his group were very responsive and were able to grasp the details of a unique transition. We had multiple offers within a few months for a decent sized practice with one DC leaving shortly and one in a few years so it was a combined sale of a partnership which can be difficult and Tom worked it with ease. (and lots of phone and emails) I have had 3 other DC’s in my area all retire in the last 6 months and just close up shop without successfully selling the practice on their own. Believe me, it’s not worth the time and effort to try it on your own.
JAMES HOWELL, DC – Cincinnati, OH
Dr. Tom was wonderful to work with as we sold our chiropractic practice to move out of state!
Dr. Tom Necela & the Strategic Chiropractor team were wonderful to work with as we transitioned out of our Portland, Oregon practice due to a move out of state. He was able to find new, motivated, highly qualified buyers for our practice through his vast network of connections in the chiropractic community and I feel confident everything was handled well through the entire process. Two thumbs up!
LAUREN McCABE, DC //Owner of Innovative Pain & Performance in Naples, FL)
My Sale Would Not Have Been Possible Without Dr. Tom! Highly Recommended…
Thank you so much Dr. Tom and staff for all the help you gave me in selling my practice. You took myself and the new Doctor by the hand and walked us thru all the steps to make it work. Without your knowledge and experience finding banks to loan for chiropractic business I don’t think it would have been possible. I would highly recommend your services to any chiropractor looking to sell their business.
DAN MURPHY, DC – Santa Maria, CA
I don’t know any brokers who would’ve gone the extra mile!
Thanks for all your hard work in helping me sell one of my chiropractic offices. I am grateful you helped me not overlook the obvious buyer who now owns my former practice. The transition went quickly as you kept everything moving along and ultimately, you came through and made it happen. Better still, I appreciate all your help before and after the sale to make the process go smoothly. I don’t know of any practice brokers who would have gone that extra mile like you did to help me get my practice sold!
MICHAEL SCHWEITZER, DC – Issaquah, WA //
Past President – Washington State Chiropractic Association
Dr. Tom & team made the sale process EASIER!
Dr. Necela & his team were excellent from the beginning to the end. I appreciated their feedback during the challenges that were presented along the way. They helped me get to the finish line and made the process easier. Thank you again!
KIRSTEN GROVE, DC – Tysons, VA
Dr. Tom is definite THE chiropractic expert on practice sales…
Dr. Necela has been amazing to work with. He is definitely our chiropractic profession’s expert on practice evaluation and chiropractic practice sales. He was able to help me establish a fair price and obtain multiple offers. Even though the sale took some time to complete he stayed with me to the end. Because he is so good at what he does, he is very busy. However he always returned my calls and answered my questions on a timely basis. I really appreciate his expertise and hard work and I would recommend his services to anyone wanting to sell or transition their practice!
DALE ROBINSON, DC – Mollala, OR //
I could not have sold my chiropractic practice without you…
I have learned so much from you and your team during the process of selling my practice. I could not have sold my chiropractic business without you and would highly recommend The Strategic Chiropractor to anyone looking to sell or transition their chiropractic practice!
PEGGY KISER-CROUCH, DC – Charleston, WV // The first certified Active Release Technique (ART) provider in West Virginia
Dr. Tom earned every penny of his commission & then some – during COVID!
Tom did an amazing job for me. During COVID, the deal was more complicated and difficult. I could not fathom trying to do this myself or with someone less experienced. Both me, as the seller, and the new Doc, the buyer, are very appreciative of his diligence and expertise. He guided us both through out and was quick responding to questions or solving problems. He earned every penny of his commission, and then some. Strategic Chiropractor is a 5 Star organization all the way. Thank you Tom!
MICHAEL CRAVEN, DC – Land O’ Lakes, FL
I hate to think what a “hot mess” I would’ve been in without you…
Dr. Tom, I would like to say again THANK YOU for all your help selling my chiropractic practice! You are really great at what you do and I’ve already recommended you to several colleagues. I would like to think that I might have been able to do this without you, but I hate to think about what a “hot mess” I would have been in for the past 6 months! Your team has been a pleasure to work with and your constant positivity meant a lot to me when things felt like they were bogging down. If I can ever help you in any way, as far as recommendations, or anything else, it will be my pleasure to do!
PAUL HENRY, DC – Baltimore, MD // Past President, Maryland Chiropractic Association
Diligence & Incredible Communication Throughout My Sale!
Thanks Tom! I appreciate all your help. You & your team have made this transition a very good experience. Thank you for your diligence & the incredible communication, be it through conversation, email or prepared documentation. You run a tight ship! THANK YOU!!
BRENT SYMES, DC – Eagle, ID
I still can’t believe it happened — I’m absolutely thrilled that you helped me so much…
Dr. Tom, it was an absolute pleasure working with you and the Strategic Chiropractor team. I cannot thank you enough. The good Lord really used you in a big way to be able to get me off the train I was thinking I would never be able to exit! I still can’t believe it happened and I’m just absolutely thrilled that I met you and that you help me so much. I will be forever grateful. May God bless you and Strategic DC in the future!!
DAVID GIRGENTI, DC – Rockville, IL // Recognized in America’s Guide to Top Chiropractors by Consumer Research Council of America
FAQ’s
Q: Do you appraise or value my chiropractic practice? I have no idea what it’s worth…
A: Yes. The first step for most of our clients is a chiropractic practice valuation so that we can establish the value of your business.
Q: Do you help me find a buyer for my chiropractic practice? I don’t have anyone to sell it to…
A: Yes! We will take care of all the advertising and putting your practice on the market to find a prospect to buy your practice.
Q: What if I have an interested prospect already? What can you do to help me?
A: If you have a serious and qualified buyer, we can help you navigate the steps to “seal the deal” on your chiropractic practice sale through our transitions consulting program. If you are not certain how serious they are, we can assist with determining that too.
Q: Do you help a buyer obtain financing? I don’t want to owner finance my practice.
A: Yes, we have a network of lenders that we work with to help your buyer find financing, as this is often one of the more challenging aspects of chiropractic practice sales. We will also assist them with the process to ensure that they successfully obtain a loan to purchase your practice.
Q: Are chiropractic practices still selling considering the challenges of COVID?
A: Yes – Chiropractic businesses are still selling! Immediately after COVID hit in March 2020, the market “stalled” but it has since bounced back vibrantly. Click here to see some of our recently SOLD chiropractic practices.
Have other questions we haven’t answered here?
Feel free to contact us and we’d be happy to help!
Chiropractic Practice Sales & Transition Resources or Next Steps…
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