There are different transition strategies that people adopt to have a successful transaction. Whether the transition is to grow, exit or step back from the business, it is critical to design and implement tactics and strategies to support the transition. But how long does it take to sell your physical therapy practice? What are the possible issues to avoid during the process of transition? Are there approximate milestones to achieve in order to say that the transition was successful?

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the steps of the processing transition, approximate milestones that typically occur week by week while in the process, and how to deal with issues in order to have a smooth transaction with the buyer.

In this episode, he will touch on such topics as:

• There are deals or transactions that are completed in less than 3 months, but there are also a lot of factors that can affect the time frame.
• If you have a broker or an advisor, they will assess your financials as well as understand your practice and goals. They want to understand what you are looking for in terms of transition, so they can best serve you and represent you throughout the process.
• Have a vast network so that your broker or advisor will understand who would be the best fit to acquire your practice.
• From a buyer’s perspective, if there is an asking price, they believe it will make the process of the transaction more efficient because they know and understand that they are basing the price on financial reality.
• Make sure you have enough time to respond to your buyer’s questions before they decide to make additional bids or offers on your practice.
• If you, as a business owner, decide to stay in your practice for several years, the prospective buyer will pay more for that because you will be there on a day-to-day basis to make sure that there is a smooth transition.
• When you are negotiating any key deal points, keep in mind that buyers will acquire some or all of your practice and will have an employment agreement depending on their choice.
• Maintaining communication with your attorney and broker or advisor is very important to avoid misunderstandings or conflicts regarding your transition

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