Buying or selling a clinic (this may be a Physiotherapy, Chiropractic, Podiatry, Speech Pathology, Psychology, Medical or other type of Healthcare clinic you want to sell or buy) during or after the Coronavirus, there are several things you can now during lockdown.

Our top tips, at Healthcare Practice Sales, for clinic owners looking to either sell their clinic or buy a new clinic are now available.

The market for selling and buying clinics has only slowed temporarily from what we can see with inquiry rates now picking up again. So, now is a great time to lay the groundwork for selling your clinic later this year or even buying a clinic now from what stock we have on the market.

Here at Healthcare Practice sales, we’ve put together our best tips for clinic sellers and buyers to get ahead of the game during the lockdown.

1) Don’t get carried away by the general doom and gloom of what the media is reporting.

It’s difficult to predict exactly what’s going to happen to clinic prices in the short term, but the key message is to relax and take a big deep breath in.
It’s true, that any sales market dips during periods of uncertainty and clinic sales here in Australia will be no different; but in the medium and long term it tends to make a full recovery. Indeed, if we look to the housing market it has predicted that prices could fall by 3% this year, but then bounce back by 5% in 2021. While it’s hard to determine for how long clinic prices could be affected by Coronavirus, it’s far more likely we’ll see single digit drops (like those above in the housing industry), rather than a full-scale crash.
So far, well into the third month of Coronavirus we have not seen a significant drop in the sale prices of Physiotherapy, Podiatry or Chiropractic clinics for example and for those clinics that can offer telehealth such as Psychology and Speech Pathology the outlook is even brighter.

2) Get your finances in order to purchase a healthcare clinic.

If you’re thinking of taking out a business loan to purchase a clinic now, or later this year, now is a great time to give your finances a spring clean and check everything is up to date on your credit report. Get in touch with your business mortgage broker. Interest rates are already very low and they are only going to get lower, so finance may be even more affordable than you thought. A full assessment of your outgoings could save you a lot of money, which could perhaps boost your deposit or help pay for some of the costs of moving. By analysing your credit report, you can get a full view of any debts, and also check whether any errors or out-of-date information has affected your score and how much you can borrow to purchase your next clinic.

3) Research the clinic sales market.

Call us for a no-obligation chat, whether you are selling or buying. Whether you’ve narrowed down your clinic search to a particular part of Australia or not, it’s always helpful to get to grips with what’s happening in the clinic sales market. While (due to confidentiality) we cannot divulge the name of a particular clinic and what it sold for, we can give you a general idea of what clinics are selling for relative to their turnover and location. If you’re buying, we may even have the perfect clinic on our books ready for the taking.

4) Spruce up your clinic.

If you’re looking to sell your clinic, now or later this year, you’ll need to get your clinic in a fit state to entice buyers. For some, that might mean a bit of a de-clutter and touching up some paintwork, for others it could mean a much more significant DIY job or getting tradesman in to undertake repairs or renovations. Try and view your clinic impartially. Feel free to call us for a no obligation chat if you have any questions or concerns; or even send us some current photos so we can best assist you.

5) Calculate the total cost of either buying or selling your healthcare clinic.

When it comes to buying and selling a clinic there are many moving parts – from agents like us at Healthcare Practice Sales, to staff and solicitors; all of these have associated costs. Take some time to estimate the overall costs of selling or buying a clinic. Knowing which professionals, you’re going to engage could be very helpful if that ideal clinic we have listed for sale appears on our listings sooner than you expected.

So, if you’re looking to buy a or sell a Physiotherapy, Chiropractic, Podiatry, Speech Pathology, Psychology, Occupational Therapy, Psychology, Osteopathy, multidisciplinary or GP clinic please get in touch with Healthcare Practice Sales as we are the leaders in selling (and assisting buyers) allied healthcare and medical clinics.