We put out a letter to prospective buyers each month or so. These cover information on practice and the profession generally plus tips on purchasing a practice. We also include some interesting articles and other things that help you become a smart buyer and a better Chiropractor. As an active 50+ year practitioner I have learned a lot and seek to share it. The letter is free. Send in your email to request the letter.
Hello, I am Dr. John Gantner, a DABCO and retired 50+ year NY Chiropractic practitioner living in Cape Coral Florida. I am a licensed Florida Realtor affiliated with Gulf Coast Realty Network. I assist doctors in selling – and buying – Chiropractic practices and Chiropractic office buildings. In addition, I assist doctors interested in buying practices that we list, and others that we do not have listed. I consult in cases where partners are splitting ownership, setting a suitable selling price and negotiating the sale. I also help Doctors settle practice values when involved in litigation – like a divorce or the breaking up of a partnership.
Our procedure is as follows: Periodically we write letters and emails to some 4,600+ Florida chiropractors announcing various practices available across the state – and looking for doctors interested in selling/buying a practice. We receive calls from doctors in Florida and other states wishing to buy a practice, to sell or lease office space. We assist in crafting agreements and negotiating all aspects of a practice sale/purchase or a lease for office space. All information is kept strictly confidential.
In addition to our regular letters to some 4,600+ Florida doctors, we advertise our practices through this web page www.floridapracticesales.net and through several college web pages. We carry on active day to day interactions with DC’s both in and out of Florida. We currently have a lost of over 300+ doctors who have contacted us relative to selling their practice. Some list with us – some go it alone – but we know where they are and can contact them if needed. POur advertising is more concentrated and therefore far more effective than most other methods of “getting the word out.”
We also maintain a list of hundreds of DC’s who have contacted us interested in buying a Florida practice or in leasing office space. We correspond regularly via email with these two select groups of doctors – sellers and buyers. We keep them up to date on our activities, our listings, and share some of our experiences. We deal with established practitioners as well as students fresh out of school. Everyone’s needs are unique. We seek to bring each a satisfactory experience. For sellers we offer our proprietary “Practice Evaluation Form” that helps gather relevant data on the practice. We help the seller set a value to the practice – at no charge. Our belief is that practice valuations paid for by the seller are usually designed to make the seller happy – but that value rarely sells the practice. We obtain appraisals of real property. We assist seller and buyer in establishing the provisions of a sales/purchase agreement. Our task is to anticipate and eliminate questions and misunderstandings, thereby facilitating a swift sale and transfer of the practice. We further assist sellers by “qualifying” most buyers before they see the practice. This saves the seller the work of showing a practice to someone who simply cannot afford it. We assist in obtaining financing and provide appropriate amortization sheets.
We answer questions. We provide research, We also take orders for various types and locations of practices and search them out. And with our New Business model we are able to help you sell your practice with no commission at all; just a modest annual advertising fee. We provide the prospects – you do everything else. If you’re not comfortable with that we will work on a commission basis.
Our current business model appears below:
The purchase or sale of a practice is often the largest financial transaction in a doctor’s life. Accordingly it deserves a fair amount of thought and analysis; what is commonly called “Due Diligence.” We help the process with “hard” and detailed information. We share our experience in helping establish values. We help secure financing and when needed, also good legal representation. We draft purchase agreements and sales contracts.
By purchasing an existing practice you get a current group of active patients, a trained staff, an already established office location with a track record, all necessary equipment up and running, established protocols for examination, case management and billing – and an immediate income! This saves a great deal of time and expense up front. In addition, a buyer usually inherits many of the relationships the selling doctor has established with attorneys and other doctors. These take years to develop when starting a practice from scratch. Clearly, these alone can be worth a fortune. In most cases the buyer also benefits from mentoring by the selling doctor, a great advantage that is too easily overlooked. That alone can prevent one from making expensive mistakes.
Our primary objective is to find good buyers and to line them up with good sellers. This is a full time job. We do a lot of phoning, mailing and emails. We keep a file on every doctor we encounter. I am not a garden variety “house” realtor. I am a chiropractor with a realty license specializing in “commercial” realty (which is what selling a professional practice is). I understand both chiropractic and the Realtor’s discipline. This is a specialized area of commercial real estate that very few commercial realtors serve. I help both buying and selling doctors make deals that work. By standing between buyers and sellers I can facilitate a sale/purchase with less friction – and believe me, friction often arises. I try to keep sellers from being burned and buyers from making a bad deal – and in my experience I have seen a lot of bad deals. Trouble is, nobody sees how bad a deal is until later – and later is too late!
Bottom line: by working with us you will have us promoting your practice sale through our regular letters both to the field and our private list of potential buyers/sellers. You simply cannot find anyone who works harder to sell a practice – or to help a younger doctor looking for a good practice to buy. We do our best to solve your problems.
Our current Florida Practice Sales Business Model is described below. It has two levels of service. Your choice.
Level #1: For a $350 non-refundable advertising fee we will advertise your practice for one year in the following manner:
- a) A description of your practice (up to 100 words) with up to 10 digital pictures of your office on our web site floridapracticesales.net for a full year.
- b) Your practice will be described in our list of “Practices for Sale” ‘that is mailed to some 4,000+ Florida DC’s and a number of out of state DC’s each month.
- c) A description of your practice will be placed on the Logan, Palmer and LIFE web pages.
We will send you the contact information on any prospects we produce. You do the deal. There is no commission. *Every seller starts at level #1 with a $350 advertising fee. Level #2: I will represent you as a broker for one year with a written contract at an 8% commission on the sale price of the practice, the building, or both – payable at closing. You will receive all services described in Level 1 above plus our traditional Brokerage services. *Brokerage services are generally described as: providing our “Practice Evaluation Form” to assist in gathering relevant information on the practice and distributing it as confidentially as possible to qualified parties (work history, funds available, current financial obligations), assisting the seller in setting a value on the practice based on our experience with other sales, creating a clear description of the practice – submitting it to the seller for approval; featuring the practice in the text of one or more of our 4,000 monthly letters to Florida Doctors, also on our list of practices for sale plus placing the practice description on several college web sites. We suggest terms that work based on our experience with actual sales, doing follow up calls on prospects, making personal effort to save a previously failed negotiation (a frequent occurrence), assisting in obtaining bank financing; serving as a buffer between seller and buyer (which reduces the friction that can often ruin a sale), ensuring the seller get as much cash as possible up front, obtaining efficient and inexpensive legal representation; creating the appropriate legal documents from offer to closing, and other important services. (Closings are done in Cape Coral FL. There is no need for either party to be present. All funds are handled by the Attorney’s Trust Account and disbursed by mail). To take advantage of any of these services send a description of your practice describing your location, type of practice, equipment and your total collections (not billings) in the first 6 months of 2016. State the amount of your monthly rent and the amount you want for your practice. If you own the building state the appraised value of your building and your asking price for building. Create an itemized list of all equipment and furnishings that will go with the sale, stating the current “used” value of each item. Include up to 10 digital photos of your office, showing the various rooms and equipment plus one picture of the exterior that does not show your name. Email the information requested plus the digital photos of your office and equipment to firstname.lastname@example.org. Include your check for $350 made out to “Florida Practice Sales.” Send to: Florida Practice Sales 1220 SE 19th Lane Cape Coral, FL 33990 *Why the change from a straight commission service? To accommodate sellers who want only a basic service – They say “just get me a prospect and I will do the rest.” This will answer their needs. If they need more help or get in trouble negotiating, which sometimes happens, they can list the practice and I will put my best efforts to work in an attempt to save (or better) the deal. I sometimes can bring a lost sale back from the brink. * * * * *
Buyers: If you are interested in purchasing any practice, even those we do not have listed, we will consult on the purchase, using our experience with previous sales. The $350 Advertising fee mentioned above starts the process. For that we offer assistance with valuation based on actual Florida Chiropractic practice sales. We will assist with negotiations with the seller on price and terms. We will create offer/counter letters and provide efficient and inexpensive legal representation by an attorney familiar with Chiropractic practice sales. The Attorney will create all legal documents. The Attorney handles all funds in his trust account (we handle no money). Closing is done in Cape Coral, FL. There is no need for either party to be present. It’s all done by mail. This procedure has worked well for us for the past 8 years. These services are available to any buyer. Call 239-362-7302 for specifics. If interested in either a sale or a purchase let me hear from you. I can help.
John Gantner DC