The Dave Kittle Show

By Dave KittleBusiness Education Investing How To

The Dave Kittle Show episodes

November 04, 2022Is My Solo Physical Therapy Practice Sellable? Revenue & Profit REVEALED - with Nathan Kadlecek
If you've been in business for a while and feel that it might be time to sell, there are a few questions you should ask yourself before making that decision: “Is MY Solo Physical Therapy Practice sellable?” “How much would I be looking for?” What are the processes of finding out if MY Physical Therapy Practice is actually sellable?
This week's The Dave Kittle Show episode, Dave Kittle will be joined by Nathan Kadlecek. Nathan is the Owner of Kadalyst Wellness and Physical Therapy in Monterey, CA. Nathan attended Harding University in AR, where he received his bachelor’s degree in Exercise Science and played DII football. After Arkansas, he attended Columbia University where he received his Doctorate of Physical Therapy. Nathan has a passion for treating orthopedic and sports injuries spanning from low back, hip, knee, foot/ankle, and neck pain, in addition to post-surgical rehab. Of these most common areas of injury and pain, lower back pain, chronic pain, and sports injuries are his greatest professional interest.
Nathan is currently looking to sell his solo practice that’s fully built out for a motivated doctor of physical therapy or movement professional who’s looking to acquire the entire solo practice, including but not limited to:
Lease agreement,
Past patient/client list,
Office that’s a 2 minute walk from the Pacific Ocean,
Positive reputation in the community for the last 3 years,
Office/gym space refurbishments,
Free weights and rehab equipment,
9 exclusive parking spots for patients,
Practice that grossed $262,000 in revenue in 2021,
Owner compensation over $100,000 (salary plus profit/owner perks).
If you’re interested in speaking with Nathan about interviewing to possibly acquire his practice, you can contact him at [email protected].
DIsclaimer: We are not brokers/advisors, and we are not receiving any commission or fee for this potential deal.
In this episode, we will touch on such topics as:
The benefit of taking over the practice if you bought it.
How can you start on first base or second base as opposed to starting from scratch?
How to value the practice and what are gonna be the components, the tangible or intangible assets of the practice? What are the elements before you go ahead with the valuation of your firm?
The past patients list are the biggest assets in your practice. Having a good number of past patient information is vital in the success of your practice.
How to find a creative solution to this deal where they can get into your practice, they can take over.
P.S. Subscribe, rate, and review Here
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
30 min
November 02, 2022Are We In A Recession? How Does This Affect Practice Exits & Sales?
As a private practice-owner who is looking to sell or exit your business, inflation is a concern as to what kind of return you will make in the next 3-5 years. What external strategies can help you buy your way out in the next 5-10 years? How can you beat inflation without affecting your value by the time you sell your practice?
This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about how inflation affects your overall practice and the decision making process when you are looking to exit or sell some of your practice in the next year or two.
In this episode, he will touch on such topics as:
You might not care about market economics, but all of this does affect your practice. It affects your staff that want a salary, raises, or bonuses.
There's all these market forces and it affects the financial bank account of the patients and clients, the folks that we're trying to help as well.
The overall inflation was 8.2%, and inflation does affect our practices, it affects our staff, and our patients.
Are you considering selling your practice in the near term or in the long term?
P.S. Subscribe, rate, and review Here
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
13 min
October 28, 2022What Is My Practice Worth? (How to Measure It)
The traditional model of the physical therapy practice is pretty simple to understand: you consider the worth of your private practice by the annual gross revenue, right? What is the proper approach on how to measure the worth, your practice, regardless of some of those tangible or intangible assets?
This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about how to measure the worth of your private practice using the accounting method, and how this method can benefit you in your practice, regardless of its size, scale, location or multiple locations. This presentation was adapted from a tweet thread from @BrianFeroldi
In this episode, he will touch on such topics as:
EBITDA is an accounting term that is an alternative way to measure a company's profitability.
The accounting method is used to allocate the cost of a tangible asset over its useful life.
Use debt to grow your business and lessen the payment of your taxes, by using the interest and depreciation expenses to minimize the tax bill.
Lowering net income was a problem since it's an important number for investors and lenders, but you have to get them to understand to focus on cash flow instead of earnings.
EBITDA is a quick way to roughly measure a company's cash flow. It ignores interest expense, so it allows companies with different capital structures to be compared.
EBITDA fixes the problem of the taxes because it's calculated before interest expense, making comparisons fairer. It also enables comparisons between companies with different depreciation and amortization expenses.
How to calculate your EBITDA as a practice owner.
P.S. Subscribe, rate, and review Here
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
26 min
October 26, 2022How Long Does It Take To Sell My Physical Therapy Practice?
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
P.S. Subscribe, rate, and review Here
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
38 min
October 21, 2022How the San Diego Padres’ Team Chiropractor Acquired a Chiro Practice with Dr. CJ Epstein
Buying a practice is becoming more common these days. Buying an established business means immediate cash flow. A financial history of the company will give you a sense of what to anticipate and may make it simpler to get loans and draw in investors. Existing clients, relationships, goodwill, suppliers, staff, plant, equipment, and stock will be acquired. As for you, would you leap forward by acquiring an existing practice, or would you rather start your own from scratch? What are the risk areas that you should watch out for in transitioning a business?
This week's The Dave Kittle Show episode, Dave Kittle will be joined by Dr. CJ Epstein. Dr. CJ is a chiropractor and practice owner of Team Elite Chiropractic in San Diego, California. He also currently serves as the Team Chiropractor for the San Diego Padres, and has been with the organization for the last 4 years.
In this episode, we will touch on such topics as:
If you are purchasing a practice out of an ad or through somebody else with whom you don’t have a good relationship, things will get tougher for you to manage the business on your own.
Assume you buy a practice and believe you have everything and that business can continue as usual, but the real challenge is finding someone to replace some employees who used to work in that business but are no longer on the payroll.
The buyer and seller of the business need to have a trusting relationship.
For new graduates or someone looking to purchase a practice who doesn’t have the skillset to manage a business, be transparent with the seller and come up with terms to have a good way to sell their practice.
P.S. Subscribe, rate, and review Here
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
32 min
October 19, 2022When To Tell Your Staff About The Sale Of Your Practice Or New Ownership with Dr. Lance Knaub
As a clinician, you love your practice but you probably can't spend the rest of your life working there - what are the other options you can try to help you create a flexible lifestyle? What are some tips on how to communicate selling some of your practice to your buyer as the perfect way to take some chips off the table?
This week's The Dave Kittle Show episode, Dave Kittle welcomes back Dr. Lance Knaub. Dr. Lance Knaub is a physical therapist, practice owner, partner and co-founder of Breakthru Physical Therapy & Fitness in South Jersey, as well as a coach and business consultant at Denali Consulting Team.
In this episode, we will touch on such topics as:
Create a perfect scenario that enables you to create or enhance your dream job, fulfilling career or business. You'll be able to understand how you can create a lifestyle that generates enough money for you and your family (if any) to live by doing something that you love and enjoy at the same time.
You have to know the value of your organization. Know the industry metrics. Only then, you can link them with your values and know if you're profitable or not.
Finding the right partner that can backup your business is a very important step, especially if you're just starting out.
It's important to keep your employees up-to-date with important decisions and new ownership within the company.
Focus on finding a partner that brings the same value in your organization into a bigger picture by helping you serve others with purpose.
As an entrepreneur, you should set some goals for yourself and have a business plan. The first step to creating a strategic and business plan is to decide what your aim is in 2023.
P.S. Subscribe, rate, and review Here
Reach Out to Dr. Lance Knaub:
Website: https://www.denaliconsultingteam.com
Lance’s Book on Amazon: https://www.amazon.com/4-Break-Thru-Business-Entrepreneurs-Outlast-ebook/dp/B084DLSMYJ
Lance’s Free Gift - The JOLT Business Planner: https://www.denaliconsultingteam.com/strategy
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
17 min
October 14, 2022How To “Take Some Chips Off The Table” By Selling Some of Your Practice with Dr. Lance Knaub Part 1
Getting started with selling your practice can be one of the most overwhelming things you will have to do in your career. How can you take some chips off the table while also not selling yourself short? How will you create a value proposition for yourself in selling your practice and retirement planning?
This week's The Dave Kittle Show episode, Dave Kittle will be joined by Dr. Lance Knaub. Dr. Lance Knaub is a physical therapist, practice owner, partner and co-founder of Breakthru Physical Therapy & Fitness in South Jersey, as well as a coach and business consultant at Denali Consulting Team.
In this episode, we will touch on such topics as:
The first and most important rule for selling a practice is to sell your practice for the right price.
Bridge the gap between physical therapy and fitness by combining them all into one creating the best recipe for patients & clients to achieve optimal health.
A good partner in your business can make all the difference. The most important role of the partner is to support, assist and give the other person security. Build a strong and long-lasting business relationship.
Partnership is not just a relationship between companies. It's also a powerful business model to leverage your marketing dollars and resources with others to meet your business goals.
P.S. Subscribe, rate, and review Here
Reach Out to Dr. Lance Knaub:
Website: https://www.denaliconsultingteam.com
Lance’s Book on Amazon: https://www.amazon.com/4-Break-Thru-Business-Entrepreneurs-Outlast-ebook/dp/B084DLSMYJ
Lance’s Free Gift - The JOLT Business Planner: https://www.denaliconsultingteam.com/strategy
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
23 min
October 12, 2022Practice Valuation For Business Partnership Separation (Dissolution), Divorce, and Tax Planning with Jeffrey Brewster
When you cannot be forced to remain in an unfavorable business partnership, you tend to decide to separate from your co-owners. But what factors can affect your decisions in your business? How does tax planning go if things change? Will you need to involve the council with proper legal parties when having an agreement with your co-owners?
This week's The Dave Kittle Show episode, Dave Kittle welcomes back Jeffrey Brewster. Jeffrey leads execution for all valuation engagements in collaboration with the other Managing Directors, and is involved in the Practice Group strategy planning. The addition of Mr. Brewster will also allow Objective to expand efforts into the Dallas, Texas area. Jeffrey’s professional background includes business valuation and more than twelve years of experience in a variety of positions within the investment management industry. He has held investment management roles at Merrill Lynch and Harris Trust & Savings Bank in Chicago. As a Financial Consultant with Merrill Lynch in Naperville, IL, Jeffrey performed equity analysis on stocks included in client portfolios and directed investment selection strategies.
In this episode, we will touch on such topics as:
Take your position and make it the most defensible that you can when you are having a marital divorce.
The place where you can get the most push and pull is your projection.
Sometimes, you cannot have communication as early as you want in a marital dissolution situation, but sometimes, you will know that the individual, the one who decided to separate, is bound by the terms and agreements of a structure that their spouse has signed into.
Make sure that your agreements that you are operating under are up-to-date.
P.S. Subscribe, rate, and review Here
Jeffrey Brewster Contact Information:
[email protected]
(469) 394‑1448
Objective website: https://objectivecp.com/
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
13 min
October 07, 2022How To Effectively Transition Your Practice To Family and/or New Leadership Team with Jeffrey Brewster
Because it is ingrained in families to preserve legacies and because it gives all the members a common foundation, leaving a legacy helps to establish long-lasting relationships. But how do practice owners effectively transition their practice to a family member and/or leadership team? When is the best time to inform the family member about the upcoming transition?
This week's The Dave Kittle Show episode, Dave Kittle welcomes back Jeffrey Brewster. Jeffrey leads execution for all valuation engagements in collaboration with the other Managing Directors, and is involved in the Practice Group strategy planning. The addition of Mr. Brewster will also allow Objective to expand efforts into the Dallas, Texas area. Jeffrey’s professional background includes business valuation and more than twelve years of experience in a variety of positions within the investment management industry. He has held investment management roles at Merrill Lynch and Harris Trust & Savings Bank in Chicago. As a Financial Consultant with Merrill Lynch in Naperville, IL, Jeffrey performed equity analysis on stocks included in client portfolios and directed investment selection strategies.
In this episode, we will touch on such topics as:
A good legal council will help you avoid creating a tax burden from both sides of the party.
Talk to a legal council to ask for advice regarding your next move into transition and how it impacts the overall tax burden on you.
Don't hesitate to share your intentions with your family members or to someone who you are intending to transfer to. Don’t always expect your hopes and dreams to align with them all the time.
As soon as you start having the thoughts of transitioning, you should communicate it through questions to find out if there is reciprocation on the other side.
P.S. Subscribe, rate, and review Here
Jeffrey Brewster Contact Information:
[email protected]
(469) 394‑1448
Objective website: https://objectivecp.com/
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
12 min
October 05, 2022How To Value Your Therapy Practice: Factors Affecting Valuation with Jeffrey Brewster
Now that you are ready to sell your therapy practice, how do you evaluate the value of your business without being dictated by the supply and demand – but rather by the value of your overall clientele and reputation? How would you find the right formula for the fair market value of your business, when it comes to selling it?
This week's The Dave Kittle Show episode, Dave Kittle will be joined by Jeffrey Brewster. Jeffrey leads execution for all valuation engagements in collaboration with the other Managing Directors, and is involved in the Practice Group strategy planning. The addition of Mr. Brewster will also allow Objective to expand efforts into the Dallas, Texas area. Jeffrey’s professional background includes business valuation and more than twelve years of experience in a variety of positions within the investment management industry. He has held investment management roles at Merrill Lynch and Harris Trust & Savings Bank in Chicago. As a Financial Consultant with Merrill Lynch in Naperville, IL, Jeffrey performed equity analysis on stocks included in client portfolios and directed investment selection strategies.
In this episode, we will touch on such topics as:
What is Business Valuation and why is it the biggest tool in your tool-box?
The best way to create value is to help others create value.
How to set powerful strategies that are both achievable and sustainable, and deliver workable solutions.
In order to sell a practice, you must first understand what it's worth. It is essential to understand the value of your own practice. Selling a practice can be challenging and you'll need to put in the work upfront if you want to reach your goals.
The business that you choose to sell is more than just a monetary value. It's an asset and it needs to be treated as such.
P.S. Subscribe, rate, and review Here
Jeffrey Brewster Contact Information:
[email protected]
(469) 394‑1448
Objective website: https://objectivecp.com/
And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.
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.
29 min

About The Dave Kittle Show

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Have you considered selling some or all of your healthcare business? Do you have an exit strategy or succession plan? Do you need a broker? Do you want to know how you can sell your business for top…