Now is the Best Time in the History of the World to Sell Your Business
Best Time in the History of the World to Sell Your Business
For health practice owners, 2021 has been as hard as it gets. With lockdown in Sydney from June – October …. practice owner’s fatigue & exhaustion is real. I’m sure you have felt it in the last 12-18months. Whether you are a part of either of these camps or feel like you are coping well and even growing your business by being an early adopter of new and current technologies to assist you and the practice, the questions still exist. What is the value of my practice? How do I increase the profitability and in turn the viability of my practice?
The challenges may never have been greater but with the excellent performance of the industry, the market is as strong as ever! I listened to a NAB Health Insights webinar over the week for practice owners and whilst the short-term forecast, isn’t great, the mid-term forecasts are looking very positive for the Health Sectors.
How does the lockdown impact the perceived value of my practice?
Due to the ongoing success of many clinics right through the pandemic, including during the lockdown, the GP sector is as active now as it’s been in many years. With people not able to travel we are seeing their suburban GP clinics regain their patients that were potentially using a CBD GP clinic during business hours to get an item 23 processed for a new script or a referral …. the suburban clinics now can service these return patients well and support them with offering services that the patient may not have even realised they were eligible to receive via Medicare.
Practice buyers looking to purchase a practice are getting excellent options now with about 7 lenders offering up to 100% finance of the acquired business. With a lot of private investment groups looking for solid investments for their board to consider, we are seeking a lot of competition for top-end businesses in the M+A sector.
Now is an excellent time to have an appraisal of your practice; even if it is to provide a benchmark for us to then use this time next year to see how much value you can add year-on-year until you achieve the sales price you are looking to achieve. It’s never to soon to think about your exit strategy. Please don’t wait til you get ill.
Health Business Sales and LINK have been supporting drs from 2004 and working in the business broking sector since 2013. I have thousands of connections built up over the last 17 years and a wide network of industry contacts on LinkedIn.
When you are in a confidential room, please call me on 0437 082 045 to discuss how we can commence the appraisal process and what documents you need to allow me to get this process done for you…usually, I can get the results to you the very next day.
Please see my current listings here and should you wish to invest just a couple of minutes yourself to get an idea of the worth of your business, use this link to go to our online calculator.
Please do reach out today to book a time with me to discuss your business – 0437 082 045 or sally.stuart@linkbusiness.com.au
Tags: selling acquisition small business
About the author
Sally Stuart
Sally Stuart commenced her career with LINK after working with medical doctors from a sales and recruitment perspective for more than a decade. After ...
