The Dave Kittle Show

The process of selling your physical therapy practice is not one to be taken lightly. Negotiations can be tricky,  but how do you make sure that you're getting the best price possible when you exit your business? 

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the 10 tips for successful negotiations when selling your Physical Therapy practice so you can be confident in your decision and walk away with all the information you need to make it happen. He will also discuss how these 10 tips will help you in your business transaction without having the risk of losing the value of your business or even having to cancel the deal altogether.

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

• Don't be afraid to ask for what you want in your business and how you want to exit in your business.
• Listen to your buyer, especially when presenting the offer and the terms.
• Do your homework.
• Always be willing to walk away.
• Do not be in a hurry to exit. 
• Aim high and expect the best outcome. 
• Show the prospective buyer or team how their needs will be met when they buy your business.
• Don't give away anything without getting something in return.
• Don't take any issues with the negotiation process personally.

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Email: [email protected]

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Call (646)-781-8884

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As a business-owner who is ready to sell your business, how can you add value that will help your buyer achieve their goal? What kind of value-added support can you take advantage of in the market that will help you hold your business longer or exit when the time is right for you? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Anthony Desena. Anthony is an accomplished founder, COO, CDO, Project Manager, and strategic business leader with an established record of success within the healthcare and real estate industries. He has advanced analytical and decision-making capabilities enabling the continual evaluation of metrics and processes as well as the implementation of sound strategies to drive productivity and efficiency. No matter the size or stage of your business, Anthony will help it be successful. As a leader and partner he motivates, empowers, and challenges team members, promoting individual and organizational success. 

Reach out to Anthony Desena: https://www.addevelopmentcorp.com/

We will touch on such topics as:

• How his experience and love for his clinical career made him step-up for the executive and managerial role that will transition your therapy business. 
• What are the emotional and personal components that are needed in order to get the deal? 
• The transition from where you started your business to where you end can be very different. 
• Proper advisory is crucial to the growth and eventual sale of your practice.
• Knowing the practice owner's overall plan is important in the exit process. 
• How will you develop a suite of support services that will allow you to focus on what matters most in your therapy business?  
• What will happen to you after the sale process of your business.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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If you’re thinking of selling your therapy practice, have you wondered which financial documents you need to have ready to present to your potential buyer? How important is it to prepare your documents when selling your business in order to get the best price in the market? 

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the list of financial documents you will need to provide to your potential buyer that are typically needed when selling a business and how your advisor or broker will help you gather all of the necessary paperwork that will help you make an informed decision about selling your practice, together with the collaboration of your legal team. 

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

• Potential buyers will make you execute and sign a mutual and non-disclosure agreement with them. 
• You have to present your tax return and income loss statement in the last 3 years until the present.
• Some buyers wanted to see your proof of funds, depending on the price value of the practice. 
• Some buyers will look at your practice internally, this includes the lease or rent agreement, your medical billing, your employees productivity, etc.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Are you a business-owner who is ready to retire, but wants to make sure that your clinic is in good hands? How can you make a smooth transition from being the owner-operator of a physical therapy clinic into someone who can focus on other things? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Mike Studer. Mike received his physical therapy degree from the University of Missouri-Columbia in 1991. He received his postprofessional MHS degree in physical therapy with neurologic emphasis from the University of Indianapolis. He has been board certified as a clinical specialist in neurologic physical therapy since 1995 and has been designated a certified exercise expert in the aging adult (CEEAA) by the Academy of Geriatric Physical Therapy since 2011. Mike has served as the vice president of the Academy of Neurologic Physical Therapy of the American Physical Therapy Association (APTA) and has been the chair and vice-chair of several special interest groups at the national level in each of the Academies of Neurologic and Geriatric Physical Therapy, including balance and falls, stroke, and the practice committee in neurology. 

You can learn more about Mike here: www.mikestuder.com

We will touch on such topics as:

• What does it take to successfully run three physical therapy clinics that earn 1.5 million in revenue? How does your location and the programs that you’ve offered have an edge to potentially grow your business? 
• How will you consider selling and exiting your business that earns millions? 
• Is it possible to sell 3 Physical Therapy Clinics during the pandemic? How much money are they worth and what will your transition be like? 
• What are the financial advantages and disadvantages you need to consider when looking for a buyer? 
• How will you negotiate your offer during the exit phase of your clinic? How will you help with the transition and explain the potential changes to your employees? 
• What should practice owners look for when exiting or selling, in regards to the legal team? 
• You have to be watchful with the potential broker that you align yourself with.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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You might be ready to slowly retire from your physical therapy practice, but how will you build your business up to thrive after you leave? How will these steps help you make your  business unique and valuable to your future buyer? 

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the second part of the 21 ways you can segment your therapy practice business so that other people can take over the tasks that are holding you back from retiring as early as possible! 

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

• Buyers are interested in practices where the owner has developed and curated a practice that is thriving on its own. 
• Create and automate your practice’s key performance indicators. (KPIs)
• Set up a notification system where the leading indicators are forecasting a future problem. 
• Create and automate a set of lagging indicators that reliably show how your business is performing. 
• Put your patients in a recurring billing plan in order to attract, retain, and grow a loyal client base. 
• Create a Standard Operating Procedure (SOP) around your transaction or billing that is outside of your traditional insurance billing.
• Why you need to create a three-month cash flow forecast
• Install or hire a clinic director in each location.  
• Removing your name from the company website and replacing the profile or the bio of your general manager, your president, your vice president, or your second in command.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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When you're ready to sell your physical therapy practice, you have a lot of things to consider. But one thing that's often overlooked is the value of the practice itself. How will you create value in your business that is effective in getting buyers interested in your therapy practice? What are the possible ways to keep up with the competition and get an extra $725,000 when you go to sell your physical therapy practice?  

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the 21 ways you can segment your therapy practice business so that it runs more smoothly and successfully—all without having to do all the work yourself! He will also talk about how these 21 ways could potentially get an extra hundred thousand of dollars when you go to sell your physical therapy practice. 

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

• Start to map the experience that you want your patients and clients to have in your therapy business.
• Create a systematic Standard Operating Procedures (SOP) that you can use to help your employees follow the rules, and deliver what you need from them.
• Start training, educating, and retraining your current staff on how to deliver the experience your patients want to receive from your therapy practice. 
• Assign someone to support your business in Customer Escalation Management - effectively and efficiently. 
• Set a minimum number of escalations allowed per month on each of your patients. 
• Hire someone that can perform marketing and sales for your business. 
• Make sure to map out your sales and marketing process monthly to see how your business is growing through the KPI’s being presented by your employees. 
• Create a brand standards guide as part of your marketing materials and assets.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Are you the type of a business-owner who handles 90% of the business? What if after 10 years of working in your business and now you are ready to sell it in the market, you just know that your business is not sellable? How can you make your business become a sellable asset, determine the right value, and get it in front of buyers who want exactly what you have to offer?  

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Mike Finger. Mike is “unapologetically small business”. Over the last 25 years Mike has bought, built and sold multiple businesses. Building his first business was a rewarding challenge, but what really captivated him was selling his first business. Mike wants to help other small business owners make their business ready, so they can experience the incredible impact of a small business sale.

You can learn more about Mike and the Exit Oasis here: www.ExitOasis.com 

We will touch on such topics as:

• What does “Own-ability is Sell-ability” mean? 
• Why do you need to meet your broker once a year even if you are not yet ready to sell your business? How can they help you in terms of working on your business and making an exit strategy to make it sellable? 
• You have to make your business beat you to become sellable. Your business needs to be ready before you are in order to build a track record of profitability even if you are not working on your business. 
• As a business owner, you should be working in your business, not on your business. Your ability to work 90% of your business hinders you from making it sellable. 
• If your business is reliant on you even after 10-20 years, you are starting to kill your exit ability. 
• Delegation, outsourcing and building your team, and training your team members will make your business ready to sell in the next 5 to 10 years.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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When you're looking to partner with a business, it's important to know the ins and outs of the industry. When considering a career in business, do you look for a company where you can find long-term growth while enjoying the career perspective? How does the company's culture and vision have a direct impact with your partnership? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Richard Leaver. Richard is a seasoned professional having demonstrated expertise in all facets of outpatient therapy services management with a strong track-record of creating long-term value and ability to successfully grow in various challenging and complex market environments. He is a licensed physical therapist with an MBA from University of Michigan and Board Certification in healthcare management, earning the distinguished Fellow of American College of Healthcare Executives (FACHE) Credential. Prior to joining Alliance, Leaver worked at ATI Physical Therapy as Vice President of Operations for Washington State. 

You can learn more about Richard and Alliance at their website here - www.allianceptp.com

We will touch on such topics as:

• The leadership and management of outpatient therapy and working with the local entities and brands to be able to really support them and maintain their culture.
• Understanding the differences between PT providers within the space. 
• What are the different cultures, approaches of the business, and ways of helping the  private practice owner that would allow them to have better decisions in regards to perhaps who they want to align with, or who they want to emulate, or who they want to partner with? 
• Why does private equity get a bad reputation in the healthcare space? 
• What are the non-negotiable and negotiable components of the business that you are looking for in terms of buying the equity? 
• How do you evaluate a long-term variable of growth?

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Why should Physical Therapists or Practice-Owners start preparing their practice to sell even if they just started their business? How does the preparation help in terms of finding opportunities that might help the business to grow? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Bryan Williams. Dr. Bryan is the founder of Concierge Physical Therapists, a forward thinking health care practice. Concierge Physical Therapists offers one on one services in clients’ homes, and at private clubs offering fitness and wellness services. 

Check the website here: https://www.conciergephysicaltherapists.com/ 

We will touch on such topics as:

• You need to put a system and process in place for your business, even before you start seeing your first patient in your client. 
• Do not brand your therapy clinic with your own personal name, you are sending the wrong message to your patients, therapist, and to your future buyer. 
• When you build a system and a process in your business, it will be easy for you to move away from the practice in terms of seeing every client, and be able to start managing and working ON the business. 
• When a potential buyer looks at the practice valuation with your production of treating the patients the value will be different once you sell it to them. 
• Building your niche in the beginning is very important in order to find the right client for your business.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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How can you use your business valuation information to make a decision when you are ready to sell your practice? Why is it so important to get involved in understanding these factors and helping you make smart decisions about whether to sell now or later, and what type of exit strategy might work best for you and your needs?  

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about how the profit of your physical therapy practice or your healthcare business will affect your business value, your asking price, and the types of offers that you could get or may expect to get when you decide to sell some or all of your practice.

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

• What are the main factors that affect the price of a medical practice? 
• How do you figure out how much your business practice is worth?  
• Seller's discretionary earnings helps you to understand the real value of the business, and it gives you a better idea of how much money you can expect to make after tax, depreciation and other expenses.
• If you sell your physical therapy practice, the buyer is going to want to see what you've been spending on your business. They'll go through all of your business books, and they'll be looking for your business expenses, taxes, etc. 
• You'll want to talk with your accountant about how best to legally classify your business expenses so that both parties can minimize their tax burden when selling or buying a business.
• Discretionary earnings is the common denominator.
• Seller's discretionary earnings, or SDE, is a term that refers to the money you pay yourself every year from your practice.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.