Improve Your Chance Of Selling Your Chiropractic Practice By Sharing This Information

If you've owned and operated a chiropractic practice for a period of time but are ready to retire, move, or look for another line of work, you don't simply have to close the doors on the business you worked to build up. Instead, hire a real estate agent who specializes in selling this type of business and look to sell the practice as a whole. This can include not only the building that you own, but also the business itself. While you'll need to provide the expected details about your physical location, such as your square footage, you'll increase your probability of selling your practice for your desired amount by including as much information as possible about the practice. Here are some details that should be part of your listing.

Monthly Revenue

Few people will want to buy a chiropractic practice without knowing the health of the investment they're making. For this reason, it's imperative that you include a breakdown of your monthly revenue. With this information, people will be able to assess whether owning the business is viable for them. This breakdown should include your average monthly operating costs, average monthly earnings from the business, and the net profit. Don't just provide one month — the more details you can provide, the more your listing shows a high degree of transparency that will appeal to many prospective buyers.

Age Of Equipment

Any prospective buyer who is interested in purchasing your chiropractic practice will need to know what equipment may need to be replaced before long. This professional gear can be expensive, so it's proper to divulge information about the age of the things in the clinic. For example, if you have five chiropractic tables, note their age and condition. If they were bought in the last year and are in like-new condition, this will be more appealing than five tables bought a decade ago that will need replacing soon.

Level Of Community Involvement

The community involvement that you've had as the operator of a chiropractic practice is also worth noting. This information doesn't have a direct correlation to expenses or costs, but it can give a prospective buyer some insight on the role your practice has played in the community, as this would likely be important to continue. For example, you could include that your business has been recognized for five years for being a top fundraiser for the local food bank, that it takes part in more than 20 community events each year, that it hosts co-operative education students from the local high school, and more.