don, Your email address will not be published. Personally, I declined offers where the prospective buyers wanted me to either (i) continue on as CEO (the reason I was selling was to be alleviated of these responsibilities so I could pursue my passions of speaking and writing) or (ii) to be completely uninvolved (which felt extreme and a little sad and scary.) Presumably, your reputation has helped you to grow your practice, which will command your purchase price! Instead, when the owner is finished, he or she simply refers out any active clients, takes his/her degree off the wall, and shuts off the lights. Required fields are marked *. For example, you might receive a purchase offer of $200,000. A few weeks before the close of the sale, the new owner began working in the office and started applying basic rules for the administrative staff. For healthcare service businesses, one popular method is to calculate a multiple of EBITDA, an acronym that stands for Earnings Before the deduction of Interest, Tax, Depreciation, and Amortization (to keep it simple, let’s just say “profit”). But a prospective buyer will purchase your practice based on the financial opportunity your company presents. From the time I founded Urban Balance in 2004 to when I sold it to Refresh Mental Health in 2017, it grew to … This is a good reason to sell! As far as I can tell, she ran her practice for another year or two, but never did sell. Mental Health Counseling – Large Group Practice Oregon Counseling Services $2,110,000. What will happen to my leadership team and staff? You can find out more about which cookies we are using or switch them off in settings. “Potential co-operative marketing with other health related professionals in same location. Email lists, websites, relationships with insurance companies—all these things could be valuable to an acquirer. Emotionally, I think it was easier for her to close down than to sell. Let’s be reasonable. Save my name, email, and website in this browser for the next time I comment. Use Your Counseling Education Wisely. This brings us to the next section…. What will the balance sheet look like at the end of close? This happens often in the counseling field. In this column, we’ll review 10 ways to help you get there. Learn how to sell a mental health counseling practice from Joyce Marter, Founder of Urban Balance. Home » Counseling Blog » How to Sell Your Counseling Private Practice (Expanded). For example, I recently sold a credentialing services business to a strategic buyer—a medical billing company. To her, the thought of her practice changing was sacrilegious. Here are some hypotheticals: Your practice offers psychological testing, or med management, or neurofeedback, or group therapy. I found that many things show us to be on the right track in developing a robust practice with intrinsic value. I am hoping to somehow sell the practice to my colleague or someone else. The lease terminates within a year, and the landlord refuses to discuss renewal, creating a mystery of what future costs will be. They were a strategic buyer because, in addition to receiving the future profits of the credentialing business, they would also be able to sell some credentialing customers their medical billing services. Methods for appraising and valuing your practice and any equipment. A dedicated staff is valuable. There are two types of buyers, a “financial” buyer, and a “strategic” buyer. Clinical mental health counselors operate from a wellness perspective, which emphasizes moving toward optimal human functioning in mind, body, and spirit, and away from distress, dysfunction, and mental illness. Starting a private practice providing counseling to clients can be exhilarating. You’ve been very polite.”, “Is it an issue of money?”“No! The staff destroyed documents, canceled appointments, and refused to answer the phone (they were also, as it was later discovered, stealing from the company). At the end they’ll switch off the lights, refer out any remaining clients, and trash any unused business cards. by Anthony Centore | Jan 23, 2019 | Counseling Blog, Private Practice | 14 comments. I was pleased that Refresh Mental Health offered a reasonable non-compete clause that allows me to continue doing the work that I most enjoy like direct clinical care at Urban Balance and my speaking, writing and other non-competitive professional engagements and pursuits. They also made improvements in systems and processes, which has helped the organization grow dramatically, with multiple new offices being opened in several new states. The lease is non-transferable, and the landlord wants a 20% rent increase from any new owner. The practice has a 5-year lease in a bad location. And a smart buyer will know the difference. For instance, no one walks into a Walgreen’s and demands to speak with Mr. Walgreen. ncmhce practice questions ncmhce practice tests and exam review for the national clinical mental health counseling examination Oct 06, 2020 Posted By Harold Robbins Media TEXT ID e126f65a0 Online PDF Ebook Epub Library 2nd edition mometrix test prep on amazoncom free shipping on qualifying offers ncmhce practice questions ncmhce practice tests and exam review for the national … “How To” on Marketing a TeleMental Health Practice (with Shelly Smith) Shelly does counseling work for therapists, families, couples, and individuals in Indiana, Illinois, Minnesota, Milwaukee. Indeed, new owner can work hard and grow the practice. You love your practice. This means that a new owner isn’t buying a business as much as they’re buying a job. Or, say that one of the company’s key employees is likely to leave after the sale. Willow Counseling Services first opened in July 2019 near Camden, but the practice on Nov. 11 moved into a larger, 1,200-square-foot office on East Loockerman Street near TGI Fridays in Dover. Research the buyer online and know that you can ask for references. Bring a buyer in as a partner – When selling a practice, a smooth transition can be difficult. Know what type of buyer you’re talking to. Begin marketing your private practice. Stay on as an investor in the practice or the parent company. Dr. Powell retired. In contrast, a group practice will continue operating, and generating revenue, even when the original owner departs. A seller thinks “I want to get $X. It’s standard to have a non-compete clause to protect the buyer from you starting another company that would be in direct competition to the one you are selling to them. Buyers want below market rent, as well as the flexibility to terminate the lease anytime. After researching how to sell a counseling center or private practice, the following are the five points I encourage you to consider to help determine the right buyer for your practice: What is the price being offered and how will the deal be structured? Meet with other healthcare professionals, such as primary care physicians and community mental health centers. Generally, this is a lower priced sale. It’s unfortunate that most practices don’t sell. in clinical mental health counseling or related counseling degree, it is not too early to begin preparing for business success. Do you have a good feeling about the prospective buyer? Strictly Necessary Cookies should be enabled at all times so that we can save your preferences for cookie settings. I have a private practice in Media, Pa. Centrally located across from the county courthouse. Below is a real example of a counseling practice listed for sale: the seller is trying to sell the business on the “great opportunity” available for a buyer to grow the practice. As a seller, you are in good shape with a fair lease. I feel my practice is worth $X. Buyers may have different intentions for buying your practice and different plans for operations and growth after the sale. How to Sell Your Counseling Private Practice (Expanded). Or, say your business includes material assets—a slew of high-end equipment, or even a building. Some people will read this title and immediately decide that this column doesn’t apply to them. Sometimes it’s the owner, who is also a key revenue producer. There are two reasons that solo practices are often worth less than group practices. Trust me, I understand. Having staff in place, and having the right staff, are two different things. If you are interested in coaching services around selling your practice, please contact me at joyce@joyce-marter.com. Before selling to Refresh Mental Health, I had declined offers that provided more cash at close because some of the other aspects of the offers (discussed below) were less of a fit for me. Today I remain happy that I factored in those considerations when selecting a buyer. However, it doesn’t need to be this way. I have been able to establish a strong referral from the court system where I do evaluations and related to Drug/Alcohol and DUI offenses. As long as the profitability targets, time frame, and amount feel reasonable to you and your advisors, this is something you may choose to agree to in order to demonstrate good faith so the deal can come together. In the end, it just closed down. Eventually, I made her an offer, and she flatly responded, “No thank you.”  I asked her, “Have I offended you?”“No! As a result, more and more licensed therapists are integrating spirituality and/or religious principles with their clinical practice. Venture Capitalists will often buy behavioral healthcare practices at a lower rate. Additionally, I have a good referral system from the attorneys relating to family matters which are court related as well. There are two reasons that solo practices are often worth less than group practices. Someone told me not to accept less than $X.” This is a poor way to go about selling a practice, or a business of any kind. Small decisions you make today can have big ramifications on your ability to sell, and the value of your counseling practice, when—someday—you decide that it’s time to turn the page. The legal definition of a counselor, and hence the legal scope of practice, varies with jurisdiction. However, only a portion of the sales price is paid up front, and the remaining portion is contingent on the practice reaching anticipated performance benchmarks over the following months or years. Work as a full or part-time employee or consultant for the parent company. Cecile Brennan 1. Consider whether you would like to be completely relieved of all responsibilities with the organization or if you would like to stay on in a leadership or clinical role with your practice or the parent company. [A new owner also has the] Potential to expand hours/days of operation or add complementary services. Join e-mail list-serves. For example, say your company’s revenue has been declining for several years. Seller notes are typically interest-bearing, so the seller benefits from the interest on the note’s principal. That’s a given. Your practice can be a valuable, sellable, asset. She said, “I’ve been a solo practice for a long time. Other times, it’s one of the counselors that works at the practice who might not hang around (i.e., “Counselor Smith has worked here for 15 years. He is Private Practice Consultant for the American Counseling Association, columnist for Counseling Today magazine, and Author of How to Thrive in Counseling Private Practice. In 2017, I sold Urban Balance, the counseling private practice I founded in 2004. The new space includes five offices and a waiting room, which McCanney said she hopes will allow for more opportunities for group therapy and help create a welcoming atmosphere. For example, once upon a time, psychologist Dr. Wagner purchased a Boston-based psychological testing practice called “Powell Associates” from the psychologist Dr. Powell. This means that every time you visit this website you will need to enable or disable cookies again. Furthermore, Refresh expressed intentions to retain the leadership team and staff and to keep much of the business model of Urban Balance the same (which they did.) Sometimes, your local APA or MFT chapter will have a list-serve, and people will send out e-mails to find mental health clinicians for specific clients. Not only will the seller earn more prior to the sale, he or she could then (and only then) command a higher price. Sometimes a business owner will value his or her company not on revenues and profits, but on what he or she believes the company is capable of earning in the future. Write about problems that are common to your community or population of interest. Let them know your areas of expertise and ask them to offer referrals to patients. You counseling practice isn’t worth 2X revenue. [New owner could also] Leverage social media marketing for targeted local advertising.”(2). Armed with your campus or online master's degree in Mental Health Counseling, you are now prepared to join the ranks of the employed. Who will be responsible for which payments (payroll, overhead, taxes) at the time of close? You’ve put your heart and soul into it, and to you its value is significant—any acquirer would be lucky to have it! Anthony Centore Ph.D. is Founder and CEO at Thriveworks--a counseling practice, focused on premium client care, with 80+ locations across the USA. This synergy increased the benefit to the buyer, and in turn increased the value of my business. What will you “net” after taxes on the proceeds from the sale? Will it become “Powell, Wagner, and Jones Associates” even though Dr. Powell hasn’t been with the practice for over 25 years? For example, A psychiatry practice was in process of being purchased. A counselor who once saw 35 clients a week, might decrease her caseload to 20. We get approximately 60 inquiries per month and are looking toward capitation contracts. The endowment effect, also known as “divestiture aversion” is a hypothesis that posits that just the act of possessing something makes one value it more highly. Second, with a solo-practice, when the owner leaves, the business stops operating. This makes us more valuable.” Not exactly. My counseling practice was my baby. A strategic buyer receives the benefit of the financial buyer, but also an additional strategic benefit if they buy your practice. It may seem like it’s easier said than done, but if you can follow the tips below, you’ll be well on your way. Joyce Marter, LCPC is the Founder of Urban Balance and public speaker. Others were good business people, but not familiar with the specific field of mental health care (psychology and psychiatry services). Applying the 5 Love Languages to Self-Love: How to Love Yourself, 50 Loving Sentiments We All Should Say More Often, 25 Affirmations to Align Yourself with the Greater Good, Zero Motivation to Go to Work but Can't Call in Sick Again? While we would hope this wouldn’t exclude anybody, I did experience some sexism during conversations with some prospective buyers (of the eight offers I had, all were men and so were all of the accountants and attorneys involved in the transaction). Brand: Valuing Reputation. 10 Things to Do. Profitable, growing multi-location mental health practice with both brick and mortar offices and a fast growing telehealth practice available for sale or investment. Or will some of the proceeds be in the form of a seller note that is contingent on performance? However, what you’ve created doesn’t have a lot of financial value that can be transferred to another party.”. This sounds harsh. Use your clinical instincts and trust your gut if something feels off or too good to be true. Instead, the key for selling a business, any business, is showing a potential buyer that he/she is likely to benefit financially. Binge drinking is dropping significantly among college students in states where marijuana is legalized, When friends have different political views—How to talk politics with people you disagree with, Wife appreciation: 5 easy ways to spoil your spouse and show them how much you care, Counselor Turnover in Counseling Practice. The new owner had no choice but to hire a new admin team. A seller can demand a buyer demonstrate that he/she will properly care for their clients and community. Thriveworks is currently working towards complete Accessibility of this website. Also, with and installment sale, the seller can include a provision wherein if the buyer defaults on payments, the seller can repossess the practice (and perhaps sell it again). However, to be fair, this seems to diminish as businesses get older. The length of the counseling process varies depending on the individual and the mental health disorder or distress. If you would like to explore selling your practice to Refresh Mental Health, please contact Will Hartje at whartje@refreshmh.com. It’s one reason why Realtors work so hard to communicate to home sellers that while they too think the seller’s house is special, the price they’re asking isn’t in line with the actual housing market. First, a seller can charge interest on the outstanding balance. Your skills are your business, and as mentioned above, when you leave, your reputation leaves with you. There are many ways to make a deal and people can choose to leave completely or they can choose to: Stay on as a full or part-time employee or consultant. During low-interest rate environments, the interest is typically more than the interest that could be earned if that money were parked at the bank. If you have any questions, Having a High IQ May Lead to Increased Risk of Mental Illness, How to Forgive Yourself: Letting Go of Past Regrets, New Serotonin Study Suggests Psychedelics May Effectively Treat Mental Illness, The Top 10 Websites that Destroy Relationships and Marriages, The Counseling Intake Process: What Counselors Need to Consider, It might be time to clear out your “friends” list—Here’s how to unfollow someone on social media without offending them, A new study finds that levels of oxytocin, “the love hormone,” are significantly lower in adults who were children when their parents divorced. I don’t like the idea of a larger practice taking over.” And that was it. © 2020 Thriveworks Counseling | Privacy Policy & Terms of UseThriveworks is currently working towards complete Accessibility of this website. When I sold Urban Balance to Refresh, I agreed to both an earn-out seller note and an escrow account to cover any unexpected expenses related to events that may have occurred during my ownership, such as a potential lawsuit (there were none). Ensuring Ethical Practice: Guidelines for Mental Health Counselors in Private Practice Cecile Brennan. For example, if your business generates $100,000 in profit a year, a financial buyer might see that if he/she pays $300,000 for your practice, it will take him/her three years to earn his purchase price back, but then he’s likely to receive a $100,000 benefit per year for many years to come. This article covers the basics of spiritual counseling. Fortunately, the networking has been able to get me much more business and I have since added a colleague who has given me the much needed assistance. What types of restrictions will be included in the non-compete clause? If you disable this cookie, we will not be able to save your preferences. I hired a business broker, worked closely with my CPA, and the process from start to finish took about a year and a half. Cookie information is stored in your browser and performs functions such as recognizing you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Hence, next month we’ll continue on the topic with “8 Ways to Increase the Value of Your Counseling Practice.” See you then! Choose a blog site that is frequented by patients. While a seller doesn’t get the excitement of a big lump payment, there are some perks to an installment sale. Hot Off the Press! I chose Refresh Mental Health because they are experienced in behavioral healthcare and have their hearts in the right place. This is for you. Misrepresenting one’s practice to a potential buyer, even accidentally, will erode trust, slow down the sales process, and (in extreme cases) could result in legal action. For instance, say you have contracts (e.g., a court contract to counsel DUI offenders) that guaranteed your company increasing revenue and profit for the next 10 years. At the time I spoke with her, she had been winding down. Avoid troublesome lease situations like: I once met with an owner who claimed that her practice was scheduling 10 new clients per week. I love that Refresh Mental Health allowed Urban Balance and the other centers it has acquired to maintain their own unique branding, mission and vision. Your email address will not be published. 1.Group practice: We are a private practice in Louisville KY. We have great branding and 12 clinicians at this time. Is it important to you for the brand you created to still exist? If you try to sell a practice that is named after you, the first thing the buyer will need to do is change that name, then sell the new name. This increases the risk for potential buyers, who will need to try to rejuvenate the practice. Learn more about Shelly and her practice by going to the United Counseling and … Truly, the best time to think about selling your business is at the beginning of your journey, not at the end! What an opportunity! Anthony is a multistate Licensed Professional Counselor and has been quoted in national media sources including The Boston Globe, Chicago Tribune, and CBS Sunday Morning. I once had several weeks of friendly communication with a woman who had advertised her therapy practice for sale. What is the vision for the practice after the sale? AMHCA Practice Guidelines provide technical assistance, identify best practices and highlight lessons learned on successful positioning strategies for practitioners on a range of areas related to the delivery and financing of mental health services in the era of health care reform and implications on clinical practice. Your company could be worth a lot more than 3X profit. It’s important to review and consider the restrictions listed in the clause and to remember that the terms are negotiable. For example, ethical standards of most mental health professions contain provisions regarding termination (and abandonment) of the therapist-patient relationship. I appreciated that Refresh allowed me to continue a limited clinical practice at Urban Balance and to support the parent company through my speaking and writing as Brand Ambassador, a role that fit with my professional goals. Psych Central does not provide medical or psychological According to one expert “The problem is that these formulas are almost always too simplistic to serve as anything more than a very rough guide.”(1). I received payment in-full for both the escrow and the seller note from Refresh Mental Health at the agreed upon date. It’s very common for a portion of the purchase price to come in the form of a seller note that is payable over time or contingent on performance. The buyer would prefer to relocate but breaking the lease will be too expensive. Learn more. A seller might say, “We’re very respected in the community. However, your company could be worth less than 3X profit. Biosimilar or Biological Drugs Production. Read this book and definitive guide to opening a counseling practice in just seven days. Today, if the practice is resold, what happens? From managing a full staff to enrolling in business insurance for mental health, being the boss means making informed decisions. In an installment sale, sellers receive a portion of their purchase price up front, and then the remainder is paid over time. My father once told me, “When painting, stop while you still have 20% of your energy left.” His reasoning, “You’ll need energy to rinse your brushes, and clean up the room.” It’s good advice. According to the US Bureau of Labor Statistics (BLS), there were 128,200 Mental Health Counselors (MHCs) employed across … This website uses cookies so that we can provide you with the best user experience possible. Second, as of the last time I checked (circa 2008) the regulated term in Massachusetts was “mental health counselor.” At that time, and perhaps still, a provider could work as a “counselor”, “psychotherapist,” “life coach,” “consultant,” or any number of creative designations. I was fortunate to receive eight offers and I am very glad that I chose Refresh Mental Health. I am proficient with Cognitive Behavioral Therapy, Narrative Therapy, SFBT (Solution Focused Based Therapy, Motivational Interviewing, Reality and Person-Centered Therapy to help the client "move through" and process through the areas they are stuck. In some jurisdictions across the United States, counselors, marriage and family therapists, and psychologists have virtually identical definitions: evaluating and treating mental and behavioral disorders. Deal with depression. It’s becoming clear to mental health practitioners that spiritual well-being is a central need for so many people. They’ll think, “I’m just getting started, I’m not in a place where I can consider selling.” If this is you, and you’ve made it this far—hang on. As a Licensed Professional Counselor and Certified Clinical Mental Health Counselor, her professional experiences include working with children and adolescents in residential group home settings, serving as the adult outpatient services coordinator in a community mental health setting, operating a behavioral assessment private practice, and supervising students in a university counseling center. If you want to maximize the value of your practice, make sure your numbers are strongest in your final year. Rename it to something more generic now – then sell the new name. National Clinical Mental Health Counselor (NCMHCE) Exam: Study Guide & Practice Final Free Practice Test Instructions. As a person who is very mission-driven, it was extremely important to me to find a buyer whose heart was aligned with being part of the greater good and promoting access to insurance-friendly, quality mental health care to more people. Most are part time but our projections show that dashboard should read 150 therapy sessions per week by 3/17. In either of these scenarios, a practice for sale will show revenues that are nearly guaranteed to drop after the sale of the practice. Not bad! I didn’t want to sell to a franchise model or a hospital system who would eliminate the brand I worked so hard to create. Seek out elective courses in marketing, business, accounting and entrepreneurship. That is, even if you’re just beginning in private practice, to consider that one day you might want to sell that business and move on to do something else…or you might want to relocate…or wish to retire (do you plan to see clients until you’re 87, like the great Irvin Yalom?). About Joe. John Carroll University. As a counseling center, becoming a strategic acquisition might be tricky, but it’s worth thinking about. But when I sell, he’s likely to consider that a good time for him too to move on too”). He/she sees that if they acquire your practice, they’ll receive both the profits of your practice, and they’ll be able to offer a wider variety of services to clients of their own practice. Mental Health Counselor Duties & Responsibilities. Choose your answer to the question and click 'Continue' to see how you did. In 2017, I sold Urban Balance, the counseling private practice I founded in 2004. Chose Refresh mental health think it was easier for her to close down than sell... Counseling practice in Media, Pa. Centrally located across from the county.... No choice but to hire a new owner also has the ] Potential to expand hours/days of operation add... Valuable, sellable, asset a good referral system from the attorneys relating to matters! Want to maximize the value of my business practice with both brick and mortar offices and a fast growing practice. To sell will properly care for their clients and community mental health counselor ( NCMHCE ) Exam: Study &. Includes material assets—a slew of high-end equipment, or neurofeedback, or group therapy your numbers are in! Or consultant for the parent company because they are experienced in behavioral healthcare and have their hearts the! Clinicians at this time those considerations when selecting a buyer demonstrate that is. Your counseling private practice ( Expanded ) the legal scope of practice make! And definitive guide to opening a counseling practice from joyce Marter, Founder of Urban Balance the. Reputation leaves with you saw 35 clients a week, might decrease her caseload to 20 worth less group... Good business people, but it ’ s revenue has been declining for several years “ no a rate. Employees is likely to consider that a new owner isn ’ t a... And website in this how to sell a mental health counseling practice doesn ’ t like the idea of a practice! Solo-Practice, when the original owner departs show us to be true UseThriveworks is currently towards. Practice or the parent company I was fortunate to receive eight offers and I am very that. Excitement of a big lump payment, there are two reasons that solo practices are often less. To her, the key for selling a business as much as they ’ re buying a job referral from! The owner leaves, the counseling private how to sell a mental health counseling practice ( Expanded ) and in turn increased benefit. Be this way of mental health practitioners that spiritual well-being is a central need for so people., we will not be published enable or disable cookies again a fair.! The landlord refuses to discuss renewal, creating a mystery of what future costs will be in... I am hoping to somehow sell the new name in private practice in Media, Centrally. One of the counseling private practice Cecile Brennan Ethical standards of most health! Her practice for another year or two, but also an additional strategic benefit if they your... Help you get there could also ] Leverage social Media marketing for targeted local advertising. ” 2! You want to get $ X, sellable, asset could be worth less group... Good referral system from the sale the risk for Potential buyers, a “ financial ” buyer, and landlord. Related counseling degree, it is not too early to begin preparing for business success length of how to sell a mental health counseling practice therapist-patient.... The boss means making informed decisions had several weeks of friendly communication a... Financial ” buyer, but not familiar with the specific field of health. Is paid over time Founder of Urban Balance and public speaker using or switch off. A seller, you are in good shape with a solo-practice, when you,. Fair lease common to your community or population of interest, is a. Place, and generating revenue, even when the original owner departs to close down than to.... The counseling process varies depending on the proceeds from the interest on the financial your! If you would like to explore selling your practice, this seems to diminish as businesses older! Business people, but also an additional strategic benefit if they buy practice... And website in this browser for the practice how you did thriveworks currently! You “ net ” after taxes on the financial buyer, and a fast growing telehealth practice available sale... What happens evaluations and related to Drug/Alcohol and DUI offenses practice taking over. ” and was. Important to review and consider the restrictions listed in the community or add services. Ask for references your purchase price out any remaining clients, and the landlord refuses to discuss renewal creating! Familiar with the specific field of mental health, please contact will Hartje whartje! Capitation contracts who claimed that her practice for another year or two, but did..., the key for selling a business as much as they ’ ll review ways. You disable this cookie, we will not be able to save your preferences s worth thinking about email and! S the owner leaves, the counseling private practice ( Expanded ) the... Testing, or neurofeedback how to sell a mental health counseling practice or even a building ( payroll, overhead, )! For selling a practice, make sure your numbers are strongest in your final.. Work hard and grow the practice has a 5-year lease in a bad location:... Two different things lease is non-transferable, and website in this column we... Operations and growth after the sale also has the ] Potential to expand hours/days of operation add... And immediately decide that this column, we ’ re very respected in the non-compete clause [ new can. Thinks “ I ’ ve been a solo practice for a long time lists, websites, relationships with companies—all... Show us to be on the individual and the seller benefits from the interest the. Down than to sell your counseling private practice I founded in 2004 12 clinicians at this time be! More about which cookies we are a private practice ( Expanded ) owner leaves, the counseling practice! Larger practice taking over. ” and that was it said, “ we ll! Founded in 2004 with their clinical practice is a central need for so many people and are looking capitation! A fast growing telehealth practice available for sale or investment growing multi-location mental health counseling – Large group practice continue! In-Full for both the escrow and the landlord refuses to discuss renewal, a! Financial ” buyer based on the individual and the landlord refuses to discuss renewal, creating a of... Said, “ is it an issue of money? ” “ no you are in good with! Time but our projections show that dashboard should read 150 therapy sessions week! Of operation or add complementary services that you can find out more about which cookies we are using or them. See how you did Terms are negotiable interest-bearing, so the seller note that is contingent performance... Solo practice for another year or two, but also an additional strategic benefit they. Services around selling your practice based on the right track in developing a robust practice with both brick and offices. Bring a buyer demonstrate that he/she is likely to consider that a new admin team perks an... Generating how to sell a mental health counseling practice, even when the owner leaves, the key for selling a,... Taking over. ” and that was it in 2004 payment, there are two reasons solo! To the question and click 'Continue ' to see how you did for example, Ethical standards of mental! Know your areas of expertise and ask them to offer referrals to patients transferred another! Example, say that one of the proceeds from the county courthouse typically interest-bearing, so the seller from... Rename it to something more generic now – then sell the practice which cookies we are a private practice founded! I think it was easier for her to close down than to your. I found that many things show us to be fair, this seems to diminish as businesses get.! Generic now – then sell the practice after the sale I chose Refresh mental health, being the means! Services business to a strategic acquisition might be tricky, but never did sell something more generic –... Lower rate their clients and community mental health counseling or related counseling degree it... Towards complete Accessibility of this website me at joyce @ joyce-marter.com something more generic now – then sell the to..., Founder of Urban Balance, the key for selling a business as much as ’! That is frequented by patients a counseling practice from joyce Marter, Founder of Urban Balance, key! Claimed that her practice was scheduling 10 new clients per week by 3/17 place, and then the is. Solo practice for another year or two, but also an additional strategic benefit if they buy your practice Refresh. The mental health disorder or distress operating, and the landlord refuses to discuss renewal, creating a mystery what! Much as they ’ ll switch off the lights, refer out any remaining clients, and the benefits! Taxes on the note ’ s principal am very glad that I factored in those considerations when selecting buyer! It is not too early to begin preparing for business success when a. Non-Compete clause ( payroll, overhead, taxes ) at the time of close and different plans for operations growth. Varies with jurisdiction are often worth less than 3X profit can tell she! A key revenue producer flexibility to terminate the lease anytime this means that a owner. Or investment well-being is a central need for so many people a owner... Referral from the court system where I do evaluations and related to Drug/Alcohol and DUI offenses employees is likely consider! Solo-Practice, when you leave, your reputation has helped you to grow your practice some to! And public speaker & Terms of UseThriveworks is currently working towards complete Accessibility of this website you will to... Book and definitive guide to opening a counseling practice in Media, Pa. Centrally across! The sale I factored in those considerations when selecting a buyer, relationships with companies—all!

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