Treat Your Business 040 Navigating the Sale of Your Healthcare Practice: Expert Insights with Joshua Catlett
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In this engaging episode of the "Treat Your Business" Katie chats with healthcare practice sales expert Joshua Catlett. With a wealth of experience in the field, Joshua delves into the intricate process of selling private healthcare Practices.
Key Takeaways from today's episode:
- Early Planning: Joshua emphasizes the importance of planning for your business exit early on. Waiting until the last minute can lead to missed opportunities and hasty decisions.
- Know Your Numbers: Understanding the financial aspects of your practice is crucial. Having well-documented numbers not only facilitates the sale process but also ensures a smooth transition for the new owner.
- Seek Expert Advice: Selling a practice is complex and can be overwhelming. Joshua recommends seeking advice from multiple sources, including colleagues who have undergone the process.
- Market Exposure: Rather than accepting quick off-market offers, Joshua advises a full market process for practices with medium to high turnovers. This approach allows for a wider pool of potential buyers and better negotiation opportunities.
- Time Is Your Ally: Rushing the sale process can lead to mistakes. Taking your time to find the right buyer ensures a successful outcome and minimises disruptions to your practice.
- Post-Sale Roles: For sellers who were not actively involved in clinical work, post-sale roles might include consultancy positions or advisory roles within larger organisations, leveraging their unique skill sets.
- Win-Win Deals: Joshua's focus is on creating win-win scenarios, where both the seller and the buyer benefit. This ensures continuity of care for patients and a positive outcome for all parties involved.
How to Connect with Joshua Catlett:
If you're considering selling your healthcare practice, Joshua offers valuable insights and support. To learn more about the process, potential valuations, and expert guidance, you can visit his website [verilo.co.uk](https://verilo.co.uk) or connect with him on LinkedIn (https://www.linkedin.com/in/joshua-catlett-verilo).
Whether you're a practice owner exploring exit options or simply curious about the world of healthcare practice sales, this episode provides actionable advice and a deeper understanding of the process. Tune in and gain insights to make informed decisions for your practice's future.
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