When it comes to selling your Physiotherapy, Chiropractic, Podiatry, Psychology, Speech Pathology, Occupational Therapy or other type of allied health practice or even your GP clinic it can be an exciting time. Once you have decided that you will go on the market, it is easy to think solely about the revenue that comes with the sale. However, selling a clinic can come with its own set of costs. Knowing what these costs are will help you budget throughout the selling process.
There are varying degrees of repairs that can have an impact of the value of your practice. Cosmetic fixes like improving your landscaping will do wonders for your curb appeal. Painting and decluttering helps to present the clinic in the best light for buyers. Larger projects like replacing medical equipment, treatment beds, computers plus your server are a more significant investment but can increase your practice’s value.
If you are going to try & sell the clinic yourself, you will need to invest some cash to get the listing seen. If you use a professional like us at Healthcare Practice Sales to sell your clinic for your we will take on the marketing for you while also using our effective buyer’s data base to find the buyer of your clinic. We, of course, charge fees for our services & are happy to discuss these with you once you make an inquiry thru us for us to sell your clinic.
• Legal Fees & More
Once you have you have accepted an offer from a buyer, the next stages of the sale will have certain legal fees involved that may include your sales contract fees, possible lease assignment fees if a lease needs to be transferred to your buyer & your accountant is likely to charge you to assist through the process. You may also need to pay out staff entitlements, pay for adjustments at settlement & more. Later you may be subject to Capital Gains Tax (CGT) as well, your accountant will be the best person to advise you regarding any CGT payable.
At first glance these costs may seem daunting, but each practice sale can be different, and the costs vary accordingly. Knowing what you can expect to spend throughout the selling process will help you budget accordingly. If you would like more information about selling & the costs that can be involved, please contact Healthcare Practice Sales today on 1300 652 361.