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Build to Sell Even If You Never Plan To
Stuart Bernsen is the founder of Chiro One Wellness Centers, a chiropractic organization that scaled to 160 locations across North America before being sold to private equity at 9x EBITDA, a deal almost unheard of in the chiropractic industry.
📈 Get Your 2026 AI-Readiness Score: https://chiroxbusiness.com/
In this episode, Stuart explains why most chiropractic practices are personality-driven businesses that completely depend on the owner, making them nearly impossible to sell.
We dive deep into the difference between a Main Street exit vs a Wall Street exit, why 80% of practices never sell, and the systems required to build a practice that investors actually want to buy.
Stuart also breaks down the three hats every doctor must understand: clinician, operator, and shareholder, and why separating those roles is the key to building a scalable and transferable business.
If you're building a clinic, practice, or any service business and want to create real enterprise value, this episode will change how you think about growth and exits.
TIMESTAMPS
00:00 Intro01:20 Main Street vs Wall Street05:31 Valuation Basics Explained09:05 Three Hats Framework15:29 Shareholder vs Operator21:02 Build Sellable Systems23:56 Investor Buy Criteria28:52 Exit Planning Mistakes32:55 Personality Driven Trap36:57 Why Investors Want Chiro47:25 Private Equity Concerns50:40 First Step SOPs55:10 Tools and Closing
CONNECT WITH STUART BERNSEN
https://medullallc.com/our-team/
ABOUT CHIROX MARKETING
We help 7-figure chiropractic practices dominate local search and attract high-value patients through SEO, Google Ads, and website optimization.
Visit: https://www.chiroxmarketing.com/
View all episodes
By Corey HibenStuart Bernsen is the founder of Chiro One Wellness Centers, a chiropractic organization that scaled to 160 locations across North America before being sold to private equity at 9x EBITDA, a deal almost unheard of in the chiropractic industry.
📈 Get Your 2026 AI-Readiness Score: https://chiroxbusiness.com/
In this episode, Stuart explains why most chiropractic practices are personality-driven businesses that completely depend on the owner, making them nearly impossible to sell.
We dive deep into the difference between a Main Street exit vs a Wall Street exit, why 80% of practices never sell, and the systems required to build a practice that investors actually want to buy.
Stuart also breaks down the three hats every doctor must understand: clinician, operator, and shareholder, and why separating those roles is the key to building a scalable and transferable business.
If you're building a clinic, practice, or any service business and want to create real enterprise value, this episode will change how you think about growth and exits.
TIMESTAMPS
00:00 Intro01:20 Main Street vs Wall Street05:31 Valuation Basics Explained09:05 Three Hats Framework15:29 Shareholder vs Operator21:02 Build Sellable Systems23:56 Investor Buy Criteria28:52 Exit Planning Mistakes32:55 Personality Driven Trap36:57 Why Investors Want Chiro47:25 Private Equity Concerns50:40 First Step SOPs55:10 Tools and Closing
CONNECT WITH STUART BERNSEN
https://medullallc.com/our-team/
ABOUT CHIROX MARKETING
We help 7-figure chiropractic practices dominate local search and attract high-value patients through SEO, Google Ads, and website optimization.
Visit: https://www.chiroxmarketing.com/