The Testing Psychologist Podcast

535. Selling Your Practice w/ Dr. Carrie Singer


Listen Later

Would you rather read the transcript? Click here.

In this episode, I sit down with Dr. Carrie Singer, founder of www.sellyourpractice.com and the Facebook group Mergers and Acquisitions for Mental Health Professionals, to explore one of the least-discussed but most critical topics for group practice owners: selling your practice. We walk through the full process—from how to know when you’re ready, to identifying who might buy your practice, to understanding valuations, brokers, taxes, and what life looks like post-sale. Carrie brings exceptional clarity to a confusing and often secretive topic, offering practical, compassionate, and financially informed guidance for anyone who might one day consider selling their mental health business.

Main Topics Covered
  • Why practice sales are an overlooked topic in mental health
  • Different ways to sell: to employees, peers, or private equity
  • What makes a practice “sellable” and how testing practices fit in
  • Market trends and why 2021–2023 were peak acquisition years
  • How to determine the right time to sell (and why burnout isn’t it)
  • How valuations, multiples, and EBITDA actually work
  • Who’s on your “sale team”: brokers, attorneys, CPAs, and financial planners
  • How rolled equity and earn-outs work—and why cash up front matters
  • The real costs of selling and what you actually take home
  • Managing the emotional and cultural impact of a sale
  • Best practices for communicating with staff and buyers
  • Carrie’s personal lessons learned and advice for future sellers
  • Cool Things Mentioned

    • The Testing Psychologist mastermind groups and business consulting: www.thetestingpsychologist.com/consulting
    • Reverb: the premier AI-powered report-writing platform for testing psychologists: www.reverbreports.com
    • Mergers and Acquisitions for Mental Health Professionals Facebook Group: facebook.com/groups/mergersandacquisitionsformentalhealth
    • Sell Your Practice (Carrie’s consulting site): www.sellyourpractice.com
    • Project Equity (employee ownership models): www.project-equity.org
    • BizBuySell (list or browse small businesses for sale): www.bizbuysell.com
    • Merger & Acquisition firm mentioned (Mertz Taggart): www.mertztaggart.com
    • U.S. Small Business Administration (SBA loans): sba.gov
    • University of Pennsylvania Private Equity Online Course: online.wharton.upenn.edu
    • Featured Resources

      I am honored to partner with two AMAZING companies to help improve your testing practice!

      PAR is a long time supporter of the Testing Psychologist podcast, and I will continue to bring you featured items from their catalog! Listen to each episode for specific product recommendations and links. Learn more at www.parinc.com.

      TherapyNotes is the leading EHR system for mental health practitioners. I’ve used TherapyNotes for over 10 years, and it just keeps getting better. Use this link and the promo code “testing” to get two free months and try it for yourself! www.therapynotes.com/testing

      The Testing Psychologist podcast is approved for CEU’s!

      I’ve partnered with At Health to offer CE credits for podcast episodes! Visit this link to access current and past episodes available for CE credit. You can use code “TTP10” for a discount on ALL the course credits you purchase from At Health!

      About Dr. Carrie Singer

      Dr. Carrie Singer is a Clinical Psychologist and owner of Orchard Mental Health Group, which has 165 clinicians in 10 locations throughout Maryland. Carrie has a particular interest in the intersection of business, technology, and mental health. She regularly mentors and speaks about parity and regulatory challenges in the industry, AI threats and opportunities, financial literacy for practice owners, and exit planning strategies.

      Get in Touch & Resources:

      • LinkedIn: https://www.linkedin.com/in/dr-carrie-singer-a4461617/
      • Facebook: https://www.facebook.com/groups/sellingyourmentalhealthpractice
      • About Dr. Jeremy Sharp

        I’m a licensed psychologist and Clinical Director at the Colorado Center for Assessment & Counseling, a private practice that I founded in 2009 and have grown to over 20 clinicians. I earned my undergraduate degree in Experimental Psychology from the University of South Carolina before getting my Master’s and PhD in Counseling Psychology from Colorado State University. These days, I specialize in psychological and neuropsychological evaluation with kids and adolescents.

        As the host of the Testing Psychologist Podcast, I provide private practice consulting for psychologists and other mental health professionals who want to start or grow psychological testing services in their practices. I live in Fort Collins, Colorado with my wife (also a therapist) and two young kids.

        Ready to grow your testing services? Click below to schedule a complimentary 30-minute pre-consulting call!

        Schedule Your Call

        ...more
        View all episodesView all episodes
        Download on the App Store

        The Testing Psychologist PodcastBy Dr. Jeremy Sharp: Licensed Psychologist & Private Practice Consultant

        • 4.8
        • 4.8
        • 4.8
        • 4.8
        • 4.8

        4.8

        200 ratings


        More shows like The Testing Psychologist Podcast

        View all
        Speaking of Psychology by American Psychological Association

        Speaking of Psychology

        53 Listeners

        Death, Sex & Money by Slate Podcasts

        Death, Sex & Money

        7,690 Listeners

        Psychologists Off the Clock by Debbie Sorensen, Jill Stoddard, Yael Schonbrun, Michael Herold & Emily Edlynn

        Psychologists Off the Clock

        325 Listeners

        It's Been a Minute by NPR

        It's Been a Minute

        9,065 Listeners

        Neurodiversity Podcast by Emily Kircher-Morris

        Neurodiversity Podcast

        418 Listeners

        Worklife with Adam Grant by TED

        Worklife with Adam Grant

        9,164 Listeners

        Life Kit by NPR

        Life Kit

        4,748 Listeners

        Back from the Abyss: Psychiatry in Stories by Craig Heacock MD

        Back from the Abyss: Psychiatry in Stories

        471 Listeners

        Uniquely Human: The Podcast by ART19    Uniquely Human

        Uniquely Human: The Podcast

        415 Listeners

        IMO with Michelle Obama and Craig Robinson by Higher Ground

        IMO with Michelle Obama and Craig Robinson

        13,044 Listeners

        We Can Do Hard Things by Treat Media and Glennon Doyle

        We Can Do Hard Things

        41,538 Listeners

        Wiser Than Me with Julia Louis-Dreyfus by Lemonada Media

        Wiser Than Me with Julia Louis-Dreyfus

        11,429 Listeners

        Handsome by Headgum

        Handsome

        13,471 Listeners

        Wild Card with Rachel Martin by NPR

        Wild Card with Rachel Martin

        980 Listeners