Practice for Sale --- Question

[Guest guest]

As you may know from my last post, I am in the process of selling my

practice. This is something that I have never done before and I know

that there are some

docs out there that have been through this process before and I would

appreciate any do's and don'ts that you might have to offer. I am

getting different responses on the " to broker or not to broker "

question. Any feedback would be greatly appreciated.

Thanks,

Bingham

Highland Chiropractic

[Guest guest]

Brokers are the way to go. You will get more exposure and they will help hurry the process along for the buyer.

You don’t want to be leaving town with plans for the future and deals falling through keeping you here.

Jeff Deiter is the most experienced in Oregon and Janice Justice is a sweetheart.

One challenge is although you have a broker, to try to watch out for yourself.

A renowned broker here in Oregon helped my neighbor broker a dental office and made NO arrangements for handling the receivables.

They had to think it up themselves and it was lame. They ended up saying something like, the buyer gets 25% of the AR’s for 3 months for paying the staff to work the accounts. Then they get 50% of the AR’s for the next 9 months, then after a year, 75% of any money collected from the seller’s old accounts.

This created an dis-incentive for the buyer to collect the accounts until they were old or very old.

Amazing that the broker did not have a plan for this explosive issue.

( E. Abrahamson, D.C.)

Chiropractic physician

Lake Oswego Chiropractic Clinic

315 Second Street

Lake Oswego, OR 97034

503-635-6246

Website: http://www.lakeoswegochiro.com

From: Bingham <bingonis1@...>

Date: Sat, 5 Jan 2008 15:43:05 -0800

Oregon DCs < >

Subject: Practice for Sale --- Question

As you may know from my last post, I am in the process of selling my

practice. This is something that I have never done before and I know

that there are some

docs out there that have been through this process before and I would

appreciate any do's and don'ts that you might have to offer. I am

getting different responses on the " to broker or not to broker "

question. Any feedback would be greatly appreciated.

Thanks,

Bingham

Highland Chiropractic