Morgan Cox

Sell Buy

Sellers Price Match

We've called it a sellers price match but this offer is much better than that. We know we provide an excellent service to our customers.How do we know? They tell us. We'll to add on to our already excellent results we are now driving down the price of what we offer. So here it is:

For a time limited period only we will not only price match any brokerage commission deal that you get offered but we will beat it. Yes, that is correct, we will offer at a lower cost to you to sell your company meaning there's more money from the deal for you to enjoy. We will need to see written confirmation of the offer we will need to beat and it will need to come from a reputable national business transfer agent (just like us!). So before you sign that all important engagement letter with your broker give us the opportunity to perform the work at a more attractive price.

private medical practices for sale

Private Medical Practices for Sale

View our medical practices and businesses for sale listings

The early stages of 2012 have shown an increasing demand for private medical practices. It is considered to be a high growth are particularly given the governments recent decision to allow NHS trusts to perform more private procedures. This has got the attention of private investors who are always looking for future trends. They may well be correct and that a larger % share of healthcare is provided in the private sector.

If you are a owner, consultant or medical businessman who runs a private health business then you be looking at potential exit strategies. If you need a valuation , brokerage or just a marketing service to bring your practice to the market then do get in touch. We are experts in this field and have hundreds of pre-registered buyers who are always looking for an investment opportunity.

 

Surveyor practices for sale

We really do try and publish helpful articles in lots of different areas. We are currently writing an article on how to value, market and sell a surveying practice/business. This is in direct response from a request from a client. Come back shortly for a detailed FAQ on how to value, market and sell your surveyor business.

In the mean time browse our currently marketed surveying businesses for sale

Solicitors practices for sale

Solicitors practice for sale

View our legal/law firms for sale listings

We provide a dedicated and focused valuation, consultancy and brokerage service to the legal profession. If you are a partner at a law firm and looking at practice valuation, considering incorporation, buying in, or an outright sale then you are in the right place. We have a team of dedicated specialists to help you find a buyer and walk you through the selling/acquisition process


nursing homes for sale

Nursing homes for sale

View our nursing homes for sale listings

It's well known that the general population is getting older. But we are also living longer and medical technology and techniques improve year on year. It is hypothesised that there will be a shortage on nursing homes in years to come to meet this increasing demand.
 Additionally in the UK not many additional governmental resources are being allocated to this area so the demand/supply imbalance continues, so current investors are flocking to the nursing home market as a safe, reliable, growing and high yielding investment opportunity.

Geographically we find that there is a trend away from the central city locations which is a reverse of what we see with other practice markets. Most relatives want their loved ones to be close by but also to enjoy more relaxing locations. These out of central locations are where the vast majority of where nursing homes are located. These have the benefit of having lower property prices but better rural locations for the nursing home clients.

Over the last 12 months we have seen various corporate clients have been adding more nursing homes to their portfolios. More recently with the economic situation in Europe we have seen more well off investors become interested in this market and we have a growing number of these types of buyers on our books.

If you are looking to sell your nursing home business then now is a great time. Demand and both valuations are high and we have seen the time to complete a sale from the moment we market the property drop off from normal estimates. please note that it is common as part of the due diligence process for the registration of any nursing staff to be verified with the general nursing council register

If you have asked yourself "how do i sell my nursing home"? then contact us.

 

legal practices for sale

Legal Practices and Law firms for Sale

 View our legal firms for sale listings

The legal market in recent years has been buoyant and robust. Practice owners are always looking to expand into other geographical areas and also new markets to compliment the services that they currently provide. These are sometimes known as practice mergers where the larger purchasing legal practice acquires the smaller practice.
There are well known cost savings post merger such as reduction of duplicated administrative systems and staff costs. Subsequent reductions in these known fixed costs reduces the bottom line without affecting the top line hence adding to the overall profit margin for the new organisation.

There are many different valuation methods and we can talk you through all those which we currently use. Over the last year central London and other city locations have been the most active. Smaller profitable practices tend to be major targets for larger organisations who want a greater market share and more brand awareness.

If you are a practice owner and want to discuss the possible options available to you then please do get in touch. We have expertise in the legal market and can give you the options available to you.

If you are looking to merge or acquire another practice to bolt onto your existing organisation then give us a ring as we typically have practices that come to the market and are sold to registered buyers before being advertised on our website.

Full details about our advertised law firm for sale can be found on the link here

care homes for sale

residential care homes for saleCare Homes for Sale. How to value, market and sell a Care Home?

View our care homes for sale listings

It is well known that people are living longer these days due to advances in medical health care and also improved lifestyle decisions within the population. There is therefore increased demand for residential care homes within the United Kingdom and it is assumed that the demand for the provision of residential care home is above 500,000 in the UK alone in 2011. Future provision in this area is due to grow with over 35% of people in the United Kingdom being over the age of 65 years of age by the year 2015.

With residential care homes, residents are generally elderly people who have a degree of independence and require a little day-to-day care. The homes are typically run by qualified carers who have the appropriate level of training but obviously not as much as full nursing position.

In the UK this area is covered under legislation and in April 2002 the registered homes act was passed. Residential care homes are currently regulated by the national care standards commission there is increasing investor demands in this area and we are finding more and more interested buyers approaching us willing to purchase practices in suitable locations as future investment decisions.

With the current financial climate the returns on care homes are excellent and it is considered a relatively low risk approach as the capital is maintained in either a saleable asset or in bricks and mortar. We are also finding investors who once purchase their first residential care home go on to acquire many more, developing a national brand in the process.

If you are thinking of selling a care home business that you have developed then please give us a call and we can let you know what the market is like and give you an indication of the sales process and highlight any already registered buyers who we could introduce to you in order to facilitate the sales process. We fully understand the confidential nature of the sale and are acutely aware that you will have staff and residents who will not be aware of your intentions. We screen all our buyers for suitability and also check their financial status so that we only introduce to you serious buyers who are committed to purchase. We also reinforce to them the confidential nature of the process and arrange viewings at convenient times for you.

If you are thinking of buying a residential care home or adding to your portfolio of properties within your brand then please do give us a ring. One of our experienced customer relationship managers can guide you through the residential care homes on our books. If you are looking to sell a care home then please speak to one of our consultants about the current market and sales process.

Alternatively click on the following link to view our current market selection of residential care homes for sale

pharmacies for sale

Pharmacies for Sale

View our current pharmacies for sale

It is difficult to continue to maintain the high levels of customer satisfaction, manage your business and engage in the sales and negotiation process all at the same time. This guide to selling your pharmacy practice should provide you with valuable information to aid you with making plans that suit you.

Why would I want to sell my pharmacy?

There are numerous reasons why you might want to sell your pharmacy practice. It may be that you are retiring or simply want to realise the benefits of all your hard work after having managed, driven and grown your business to the heights that it is today. You may have had exceptionally good growth over the last few years and want to realise the potential value that this data reflects in your pharmacy.

How do I keep the sale of my pharmacy practice discrete?

We fully understand the nature of buying and selling businesses. It’s what we do! No doubt you will not want your employees to hear about any potential sale. Our process is simple and this is to protect your business and sell it for the highest value on the open market. All our marketing information that we will make about your practice will be confidential. We will only pass on potential buyers to you once they have been fully screened with confidentiality agreement in place.

How do I value my pharmacy practice?

This is the million pound question. As with any other type of business there are many types of valuation methods and ultimately the value of your business will be the price that someone is willing to pay for it.  During our visit one of our team will talk you through the valuation process and give you a final figure based on the financial data that you provide.

What is the pharmacy practice sales market like at the moment?

The pharmacy market is one of the smaller markets that we deal with. There tends to be no real seasonal variations in sales here. We have a database of registered buyers/firms with their exact requirements. We actively seek to pair up those new pharmacies that come to the market with our registered buyers requirements. We always however encourage new practices to be fully marketed on our website so that the correct market value is achieved. In the past this has been above the practice valuation point particularly when there are two or more interested parties in your practice.

What happens in the normal sales process?

You decide to implement your exit strategy from your business and engage in the sales process
You decide on either a direct sales process driven by you or to use the services of a broker
If you decide on the use of an experienced pharmacy practice broker then you are guided through the remaining steps
You sign a letter of engagement with a practice broker. This legally commissions the use of the broker to act on your behalf during the sales process
You are visited so that we can look at your practice, value the business and ascertain all the required information that the buyer will want in order to purchase your accountancy practice
The broker works with you to produce all the documents required to successfully market and sell your practice. This will involve the preparation of a sales brochure and information pack about the strengths of your business.  A full set of financial accounting data is also prepared however this is only passed onto fully screened buyers who are still interested in purchasing your practice after reviewing the marketing material.
You will review, make suggested alterations and agree to the marketing material on your practice
We market your practice and distribute to our database of already registered buyers
All buyers are fully screened and have signed a confidentiality agreement with us. We deal with day to day enquiries for information about your practice and screen for serious buyers with whom we subsequently introduce to you
When a buyer after reviewing the marketing and financial data wishes to visit your practice to look around we will make an appointment for them to visit you at a convenient time. This is to maintain the confidential nature of the sales process and not to disrupt the normal day to day workings of your business.
Offers to purchase the practice are made through us
We pass on these offers to you and help with the negotiation process based on our appraisal of the interest to date from the market about your practice. On some occasions we will proceed to sealed bids if there is more than one acceptable offer from more than one party.
A letter of acceptance subject to contract is sent to the buyer
The buyer makes a deposit to us to secure the removal of your practice from the market
The buyers legal representatives submit a heads of terms agreement which is agreed upon by both parties
The due diligence process occurs. We co-ordinate between both sets of accountants and legal representatives to facilitate this process and help the deal to progress as smoothly as possible
On satisfactory conclusion of the due diligence process a sale and purchase agreement is produced by the buyers legal representative. Once you are happy with this agreement both parties sign. Contracts are exchanged and the deal is completed
The agreed transaction value from the sale of your practice is wired to your account or solicitors account
The sales process is completed and it is time for you to enjoy the rewards for your hard work and plan the next steps in your life/career

Can I choose not to use a broker?

Yes. A significant percentage of practices are sold directly without the use of a broker.
As the sales and legal process is both time consuming and stressful a substantial percentage of those who complete the sale of their practice individually have some regrets about this decision.

Will I be expected to work in the practice after the sales process?

This depends on the type of deal that is negotiated. In all deals there is a tie in period which is normally between 1 and 3 months. During this hand over period you will need to work with the new owners to facilitate the hand over of the pharmacy. You may decide that you want to stay on in some other capacity such as a partner or silent investor. This naturally is your choice and depends on the underlying reasons for the sale.

Are brokers worth the commission fee?

We only get a fee on the successful completion of a practice sale. It is in our interest to get the maximum value for your practice in the market. It is believed that by using a broker approximately 10% higher market values are achieved than through the direct sales route. We also don’t charge you any up front brokerage fee. We only get paid by the results of our work. Because our fees are linked to a percentage of the sale then we also strive to get you the full market value at all times.

How long does it take to sell?

This depends on the type of practice, practice location, number of clients and the market demand. On average the process takes between 4-6 months from the day of marketing to complete however some practices have sold before this time frame

How do you differ from other pharmacy brokers?

We value our individual approach to each practice sale. Here are some other key fundamentals to the service that we provide:

Free seller registration
Free buyer registration
Great website marketing exposure using state of the art techniques to get your practice to the greatest number of possible buyers in order to find you the right buyer at the right price
No marketing costs or journal advertising costs to you when we market your practice
No payment/fees to us unless your practice is sold

No lengthy tie in period to use us as sole agents. If you are not happy with us we don’t prevent you from achieving your goal of selling your practice.
Full guidance during the sales process as outlined above. We offer a full brokerage service to you

 

When can I expect full payment for the sale of my pharmacy?

Once again this depends on the demand for your practice and the negotiation process itself. It is not common to get a completely clean break and receive 100% of the sale price upfront however this does occur occasionally. More typically you will receive a large percentage of the sale price and the rest on the first anniversary of the sale

 

What are warranties?

During the negotiation of the sale and purchase agreement the buyer will ask for you to agree some warranties about the business. The number of warranties and what they are there to protect depends on the type of practice and what the due diligence process has unveiled. It is normal for the buyer to want to seek some protection over issues and events that they had no control over prior to the sale. This may be relating to you promising that you have correctly dealt with VAT,HMRC, PAYE and any outstanding claims or legal issues relating to events prior to the sale. If after the sale process there is a claim for outstanding fees/taxes then the buyer could pass this claim onto you. This would be referred to as a claw back. There is however some room for manoeuvre so if there are any outstanding issues you can disclose this to the buyer during the negotiation process. If they proceed with the deal having full knowledge of any issues then they proceed at their own risk and any mitigation from the disclosed item will stay with them.

I own the freehold to my pharmacy. Can this be sold?

As your broker and a specialist in this field we can act on your behalf to sell the freehold or leasehold to your premises. We can advise you as to all the options if this is the case.

I want you to sell my pharmacy. What do I do next?

Please contact us so one of our members of staff can be allocated to deal with you and advise you on the above process. 

architecture practices for sale

Architecture Practice buying and selling information:

View our list of architecture practices for sale

The following information is a guide including market tips to those who are looking to either buy or sell an architecture practice. For more details feel free to contact us so that we can evaluate your requirements and inform you about how we can help you achieve your goals.

Why would you want to sell or buy an architecture practice?

Having an exit strategy is very important. You may have spent many years or your entire career building up your practice, adding clients, developing your reputation and brand. There will be a point in your life where you will need to plan to realise the full financial potential of this important asset.
If you have an existing practice and you want to expand the acquisition of an already established practice is one of the options that you have to grow your business. It takes time, energy and money to expand geographically or indeed move into other niche areas within the market. Purchasing an established, reputable and profitable business to add on to your business can reap great rewards particularly as it is easy to strip out duplicate system costs and absorb much of the additional practices expenses into your existing architecture practice.
This efficiency savings can improve the profitability of purchased practices and reduce the time to recoup your investment.

How do you value an architecture practice?

This is a difficult question and there is no market formulae to quantify in a simple manor the value of your business. Attractive and profitable practices sell well and often have multiple interested parties who are competing to acquire. Market forces in these circumstances drive the price to the appropriate market level. After all your practice is only worth what someone is willing to pay for it. Our wealth of knowledge in this field can help appraise and value your practice and then take it to the market.

Can I sell my practice without a broker?

Yes, absolutely. You can approach potential purchasers in your market and sound out any interest. This won’t cost you any money in brokerage fees however there will be your time at stake and potential loss of growth in your business whilst your focus is elsewhere. Confidentiality is also a key area and it is also well known that local competing practices may take the opportunity to find out in depth about your business and review your accounts to potentially exploit the local market without acquiring your practice.

How does the sales process work?

We have many already registered buyers who are interested in opportunities to grow their own practice in this market. Many are asset rich and don’t require external funding. Our services include market appraisal, practice valuation, marketing and brokerage of your business. We work on your exit strategy leaving you to concentrate on what you are best at. Also many owners have never sold a business before and prefer for the process to be handled by experts. Mistakes are expensive and having someone to guide you through the process can prevent many of these occurring.
Once we take your practice to the market we will screen buyers talk them through your business. It is only when we have a financially screened and interested party that we will then forward them onto you for the rest of the sales process. Finding the right buyer is the key.

How long does it take?

This depends on the interest and guide price. A well marketed, profitable practice can sell in 2 months however the time frame is normally in the region of 5-7 months. If you have ever asked yourself "how do i sell my architecture practice"? then contact us.

 

optometry practices for sale

Optometry practices for sale

View our optometry businesses for sale

Optometry practice sales have had a robust 2011 and so far this has continued into 2012. We have seen a growth in independent chains wanting to acquire practices in key geographical areas to augment their business positioning across the UK. As a result of continued strong demand, valuations have maintained at the higher levels seen over the last few years. It is therefore be predicted that 2012 is a good year to sell with strong practice prices and plenty of demand from interested buyers.
Finance remains under pressure however for first time purchasers similar to other forms of lending in the UK. This appears not to be the case for multiple practice owners with assets to secure loans to purchase further optometry practices.

If you are looking to sell your optometry practice/business or acquire additional practices for your chain then contact us. It is not unusual that we sell some practices before they are even advertised on our website so we would encourage you to register as a potential buyer. Registration is free and of course carries no obligations.

 

physiotherapy practices for sale

FAQ's: How to value your physiotherapy practice for sale: How to get help valuing, buying or selling a physio practice or clinic?

 View our advertised physiotherapy practices for sale

How do you value a physiotherapy practice or clinic?

Salaried physiotherapists who are employed by say the NHS deliver a clinical service make important decisions on the running and direction of the service but never have ownership of the business. When you stop practising or retire then that's it! In the world of private business development (which includes private physiotherapy service provision) this is entirely different. A physiotherapy clinic or practice owner may run their business as a sole trader or partnership hut more commonly as a limited company. They still own the shares even when they decide to stop working so have an asset within their business. There are two components to valuing a physiotherapy business. Firstly are the fixed assets of the business. Typically these reduce by a fixed 25% depreciating value each year however there's always tables, benches, office equipment, laptops and computers, websites and servers that are owned by the practice and contain inherent value. There are typically valued at the book value on the last set of accounts.
The second element of the valuation is the goodwill of the business.
This essentially is the reputation of the business and the ability for it to continue bringing in clients and generating turnover and subsequently profit. There are many different methods of valuing the goodwill. We use 2 main methods and we are very happy during a practice valuation and business appraisal to talk you though these.

How do you market a physiotherapy business?

Any one can say they are going to market a business but in this industry you need to know where to throw the bait in order for the fish to bite. If you market the business to the wrong type of individuals you will get no real interest. We keep our marketing focused and targeted. The fact that you are reading this article about the physiotherapy practice/clinic sales process means hundreds if not thousands of others have already been here. As a result we have many registered buyers who are waiting for the right practice to become available and we communicated with them whenever we have a new practice that we take to the market.

How do you sell a physiotherapy clinic or physiotherapy practice?

Once we have carried out a market valuation we will have a recommended value for your business. Once you approve this figure we will then draw up a sales memorandum. This is a confidential document that gives interested buyers the essential information about your business. We will market your practice on our website and other marketing websites and trade journals. We will also distribute new physio clinics and practices to our registered buyers. Normally we will generate immediate interest and if we don't it's then a waiting game. Once we have interest expressed from a potential buyer we will screen them and only pass on those serious buyers who have the finances and ability to purchase your business. We also get all potential buyers to sign a confidentiality agreement so they cannot use or disclose any sensitive information that they may find out about your business. Once we pass their details onto you we recommend a short 45 minute face-fitting meeting. It is best to hold this off site so not to draw attention to your clients or employees. The purpose of this initial meeting is to see if you could do business with this individual and if they will fit into your business. If the answer to this question is yes then we recommend a viewing of your practice normally out of clinical hours so the potential purchaser can see for themselves how you operate. At this stage it would be expected for you to provide them full access to the last 3 years full accounts. At this point if the buyer is still interested then they would make an offer for your business through us as your agent. We would then help negotiate a satisfactory price and legal arrangement for the deal to proceed based on your agreement. Once you agree a heads of terms agreement would be drawn up by your solicitor and signed. Both parties would then leave their respective legal advisors to draw a contract and once agreed by all parties they can be signed and the deeds/shares and money transferred. This concludes the deal. If required we could recommend to you appropriate legal or financial representatives who could help you through the due diligence process.

How can you help me achieve any or all of the above?

Do you own or run your own physiotherapy practice, clinic or business? Are you looking to grow, add to your client base, acquire additional practices, develop a UK national brand? Are you looking to sell and release some equity from the valuable asset that you have spent time developing?

There are numerous reasons why one would either want to buy or sell a physiotherapy practice. Regardless of your reason you will need help to value, appraise and market your business to those who may be interested in acquiring your business. To find out more about how we can help either drop us an email or give us a ring. All discussions are confidential and carry no obligation to use any of our services.

We can give you a market valuation of your practice/clinic, take your business to market and guide you through the potentially complicated sales and negotiation process. We can introduce sellers to appropriate legal expertise and recommend sources of funding to prospective buyers. Contact us for more details about our confidential and professional service. If you are worried about speaking with a general business broker then don't with us. Our physiotherapy practice sales team is lead by an ex NHS and private physiotherapist. As a result we know how your business works and can understand the clinical aspects of your operation. You won't get this with any other broker. This is why we are the UK's market leader for the sale of physiotherapy practices and clinics. We also now offer a free business appraisal and valuation service which is completely confidential and carries no obligations on your behalf.

Thinking of selling: Express your interest via our online physiotherapy practice/clinic vendor-seller registration form

View our advertised physiotherapy practices for sale

 

Physiotherapy clinics and practices for sale


veterinary practices for sale

 To view our current veterinary practices for sale view our listings pages.

Morgan Cox are dedicated vet brokers and can offer exit solutions to practice/clinic owners who are looking for a way out. Apart from practice sales we also offer vet practice valuations. These may be required in non exit situations such as for incorporation, probate, buy in/buy out ect. We have a positive track record in achieving the full market value for veterinary businesses and have consultants who solely operate in this industry. With years of experience they understand all about your business and industry and can talk you through each step of the sales process. We offer a range of payment structures to suit the needs of all our clients. If you are thinking of selling your veterinary clinic or business then don't hesitate to contact us to discuss your situation and more importantly what options are available to you. All calls are taken in confidence and carry no obligation to use or engage any of our services.

 

optical practices for sale

Optical practice for sale

View our optometry practices for sale listings

The optical market remains excellent. A greater number of buyers remains. Few practice owners sell so when they do there is plenty of interested buyers waiting to appraise their business. Valuations remain strong and it is not rare for well positioned and well managed practices to sell for in excess of the asking price.  Central city/town locations receive great interest and there has been an increased number of independent chains wanting to acquire practices to add to their brand and extend their market share. If you are thinking or selling this year then contact us so we can talk you through the market. We have a wealth of experience and can guide you through the sales process as well as getting you the price you require.

medical practices for sale

Medical Practices for Sale

View our medical practices for sale listings

You may run your own private medical practice, private clinic or employ others to deliver medical care through a limited company. Your business plan may one day involve selling your business and you may have asked yourself how do i sell my medical practice?. It is difficult to continue to maintain the high levels of customer satisfaction, patient care, manage your business and engage in the sales and negotiation process all at the same time. Here are some FAQ's as to the medical practice sales process and how we might be able to assist you to take the next steps.

Why would I want to sell my medical private practice?

There are numerous reasons why you might want to sell your private practice or clinic. It may be that you are retiring or you simply want to realise the benefits of all your hard work after having managed, driven and grown your business to the heights that it is today. You may have had exceptionally good growth over the last few years and want to realise the potential value that this data reflects in your practice.

How do I keep the sale of my private practice discrete?

We fully understand the nature of buying and selling businesses. It’s what we do! No doubt you will not want your employees to hear about any potential sale or colleagues to find out about how successful your private practice has been. Our process is simple and this is to protect your business and sell it for the highest value on the open market. All our marketing information that we will make about your practice will not contain details that may indicate who you are. We will only pass on potential buyers to you once they have been fully screened with confidentiality agreement in place.

How do you value my private practice?

This is the million pound question. As with any other type of business there are many types of valuation methods and ultimately the value of your business will be the price that someone is willing to pay for it.  During our visit one of our team will talk you through the valuation process, the different methods of valuing a private medical business and give you a final figure based on the financial data that you provide. Ultimately it will be you that tells us how much you would like to market your practice at, however your figure will need to be guided by our valuation estimate and be consistent with reasonable figures for similar businesses that we have sold in this field.

What is the private practice sales market like at the moment?

There are always plenty of investors who are ready to buy into a profitable business so that they can see a return on their investment. If your business has shown good growth, profitability and has good ongoing potential that is not solely reliant on your services then there will be a buyer for you. We are always selling businesses in this field all year round.

What happens in the normal sales process?

You decide to implement your exit strategy from your business and engage in the sales process
You decide on either a direct sales process driven by you or to use the services of a broker
If you decide on the use of an experienced medical practice broker then you are guided through the remaining steps
You sign a letter of engagement with a practice broker. This legally commissions the use of the broker to act on your behalf during the sales process
You are visited so that we can look at your practice, value the business and ascertain all the required information that the buyer will want in order to purchase your practice
The broker works with you to produce all the documents required to successfully market and sell your practice. This will involve the preparation of a sales brochure and information pack about the strengths of your business.  A full set of financial accounting data is also prepared however this is only passed onto fully screened buyers who are still interested in purchasing your practice after reviewing the marketing material.
You will review, make suggested alterations and agree to the marketing material on your practice
We market your practice and distribute to our database of already registered buyers
All buyers are fully screened and have signed a confidentiality agreement with us. We deal with day to day enquiries for information about your practice and screen for serious buyers with whom we subsequently introduce to you
When a buyer after reviewing the marketing and financial data wishes to visit your practice to look around we will make an appointment for them to visit you at a convenient time. This is to maintain the confidential nature of the sales process and not to disrupt the normal day to day workings of your business.
Offers to purchase the practice are made through us
We pass on these offers to you and help with the negotiation process based on our appraisal of the interest to date from the market about your practice. On some occasions we will proceed to sealed bids if there is more than one acceptable offer from more than one party.
A letter of acceptance subject to contract is sent to the buyer
The buyer makes a deposit to us to secure the removal of your practice from the market
The buyers legal representatives submit a heads of terms agreement which is agreed upon by both parties
The due diligence process occurs. We co-ordinate between both sets of accountants and legal representatives to facilitate this process and help the deal to progress as smoothly as possible
On satisfactory conclusion of the due diligence process a sale and purchase agreement is produced by the buyers legal representative. Once you are happy with this agreement both parties sign. Contracts are exchanged and the deal is completed
The agreed transaction value from the sale of your practice is wired to your account or solicitors account
The sales process is completed and it is time for you to enjoy the rewards for your hard work and plan the next steps in your life/career

Can I choose not to use a broker for the sale of my medical practice or private clinic?

Yes. A significant percentage of medical practices are sold directly without the use of a broker.
As the sales and legal process is both time consuming and stressful a substantial percentage of those who complete the sale of their practice individually have some regrets about this decision.

Will I be expected to work in the practice after the sales process?

This depends on the type of deal that is negotiated. In all deals there is a tie in period which is normally between 1 and 3 months. During this hand over period you will need to work with the new owners to facilitate the hand over of the practice. You may decide that you want to stay on in some other capacity such as a partner or silent investor. This naturally is your choice and depends on the underlying reasons for the sale.

Are brokers worth the commission fee?

We only get a fee on the successful completion of a practice sale. It is in our interest to get the maximum value for your practice in the market. It is believed that by using a broker approximately 10% higher market values are achieved than through the direct sales route. We also don’t charge you any up front brokerage fee. We only get paid by the results of our work. Because our fees are linked to a percentage of the sale then we also strive to get you the full market value at all times.

How long does it take to sell?

This depends on the type of practice, practice location, number of clients and the market demand. On average the process takes between 4-6 months from the day of marketing to complete however some practices have sold before this time frame

How do you differ from other practice brokers?

We value our individual approach to each practice sale. Here are some other key fundamentals to the service that we provide:

Free seller registration
Free buyer registration
Great website marketing exposure using state of the art techniques to get your practice to the greatest number of possible buyers in order to find you the right buyer at the right price
No marketing costs or journal advertising costs to you when we market your practice
No payment/fees to us unless your practice is sold

No lengthy tie in period to use us as sole agents. If you are not happy with us we don’t prevent you from achieving your goal of selling your practice.
Full guidance during the sales process as outlined above. We offer a full brokerage service to you

 

When can I expect full payment for the sale of my medical practice?

Once again this depends on the demand for your practice and the negotiation process itself. It is not common to get a completely clean break and receive 100% of the sale price upfront however this does occur occasionally. More typically you will receive a large percentage of the sale price and the rest on the first anniversary of the sale

 

What are warranties?

During the negotiation of the sale and purchase agreement the buyer will ask for you to agree some warranties about the business. The number of warranties and what they are there to protect depends on the type of practice and what the due diligence process has unveiled. It is normal for the buyer to want to seek some protection over issues and events that they had no control over prior to the sale. This may be relating to you promising that you have correctly dealt with VAT,HMRC, PAYE and any outstanding claims or legal issues relating to events prior to the sale. If after the sale process there is a claim for outstanding fees/taxes then the buyer could pass this claim onto you. This would be referred to as a claw back. There is however some room for manoeuvre so if there are any outstanding issues you can disclose this to the buyer during the negotiation process. If they proceed with the deal having full knowledge of any issues then they proceed at their own risk and any mitigation from the disclosed item will stay with them.

I want you to sell my medical practice. What do I do next?

Please contact us so one of our members of staff can be allocated to deal with you and advise you on the above process. 

Please note if you are a medical practitioner we will need to confirm your GMC number with the General Medical Council for due diligence purposes

 

general practices for sale

General Practices Properties for sale

View our list of medical practices for sale

General practices are a pivital and play a central role in both primary health care and also the commissioning of secondary health care in the NHS in the United kingdom. Many of these GP practices operate out of rented properties that are privately owned but then rented back to the GP's who provide a service to the local community on behalf on the local PCT (Primary Care Trust).

Due to the recent economical events in the UK and also Europe (2012) investors are turning to better returning investments than the base rate from the abk of England.

Rental yield from General practice property ownership can be in the region of 5-10% per year. With uncertainty in the property market many GP's are turning to a sell and leaseback option where they realise the value of their commercial building and subsequently get the long term security of renting the building back from the new owner. Rents tend to be 20-30 year contracts with payments being RPI linked.

If you are a GP wanting to sell and lease back your property contact us as we have plenty of registered buyers wanting to invest in this area.

accountancy practices for sale

The Accountancy Practices Sales Process: A buyers and sellers guide.accounting-practice-sale

View our list of accountancy practices for sale

Selling your accountancy practice is both an exciting and stressful time during your life. It is difficult to continue to maintain the high levels of client satisfaction manage your business and engage in the sales and negotiation process all at the same time.

Are you thinking of selling or buying an accountancy practice? Have you asked "how do i sell my accountancy practice or how do i value my accountancy practice"? Have you got plans to expand the amount of work that your practice performs? Have you considered buying a block of fees from a neighbouring practice? Have you asked yourself, how have do I expand my practice into other areas? And at the end of the process how do you realise the monetary value of your practice that may have taken you your entire career to build up?

These and many other questions are commonly asked by our clients and they are relevant questions to consider when expanding a practice or when you are executing an exit strategy.

To give you an idea of the answers to some of the above questions we firstly need to highlight the kinds of services that we offer to the accountancy industry and also provide some concise FAQ’s about the whole buying and selling process.

Firstly, what kinds of services do you offer the accountancy industry?

We are an established company and operate in various niche markets including the accounting industry. One of our leading areas is the accountancy practice sales and brokerage market. We have a fantastic reputation for offering a personalised and ethical solution to each buyer/vendor in the accountancy field. Some of our services are listed below

Accountancy practice valuations
Full market appraisal and discussion of available buying/selling options and time scales
Targeted marketing to bring your practice to the market and to those who are interested in buying it
We screen all enquiries to make sure that only suitable and ready purchasers and introduced to any vendor
We introduce only suitable screened buyers to the vendors whilst maintaining the strictest of confidentiality to both parties
We receive all offers and pass these onto the vendor and give advice how to proceed in the marketing/vetting and sales process
We liaise with both parties during the negotiation process
We can introduce as requested both parties to a long list of potential legal representatives whom we have worked with in the past and can advise on an appropriate fee structures for you to agree
We liaise with both parties during the sales process to facilitate as smooth and stress free transition as is possible
We operate only on a no sale no fee principle.

It’s also quite simple. Due to our marketing strategy if you have found this information and are reading it then so are hundreds of potential purchasers. We do all the hard work finding a suitable buyer leaving you to concentrate on what you do you best! “Running a successful and profitable accountancy practice”.

 

Why would I want to sell my accountancy practice?

There are numerous reasons why you might want to sell your accountancy practice. It may be that you are retiring or simply want to realise the benefits of all your hard work. It may be that you have been working towards this goal for some years and that now is the best time to sell.

How do I keep the sale of my accountancy practice discrete?

We fully understand the nature of buying and selling businesses. It’s what we do! It is important to maintain the anonymous nature of your accountancy practice sale during the whole process. You may have many members of staff whom you don’t want to be aware that the business is for sale. You may not want local competitors to be aware also.
When we advertise and market your business we make sure that all documents contain no information that could identify you. Your business will be advertised in the accountancy press, on line and using other methods. We will not give out your name, location or brand. As we filter and screen potential buyers we will only ever pass serious buyers onto you so that we maintain the anonymous nature of this process.

How do I value my accountancy practice?

As with any other type of business there are many types of valuation methods and ultimately the value of your business will be the price that someone is willing to pay for it. The commonly used method in this industry is a multiple of 1 to 1.5 of your annual recurring income. Profitability and future potential revenue streams are also important factors when valuing your accountancy practice.

With any market the value of a product is dictated by the prevailing market conditions and ultimately is what a buyer is prepared to pay for the product. Only one buyer is required however so in circumstances where there are two or more interested parties the price that one of the buyers is prepared to pay increases. Competition is healthy and we find that the most attractive practices sell for more than is sometimes the marketed value. There are however some typical market rules in this sector particularly for small practices. These practices with turnover over of around £250,000 the normal market rate is in the region of 1 to 1.5 of the annual turnover or fees.

 

What is the accountancy practice sales market like at the moment?

There are normal seasonal variations across the year but due to the sales process we have sales going through at all times of the year. The market is currently buoyant and accountancy firms are always looking to expand their market share. We have a database of registered buyers/accountancy firms with their exact requirements. We actively seek to pair up those new practices that come to the market with our registered buyers. We always however encourage new practices to be fully marketed on our website so that the correct market value is achieved. In the past this has been above the practice valuation point particularly when there are two or more interested parties in your practice.

What happens in the normal accountancy practice sales process?

You decide to implement your exit strategy from your business and engage in the sales process
You decide on either a direct sales process driven by you or to use the services of an accountancy practice broker
If you decide on the use of an experienced accountancy practice broker then you are guided through the remaining steps
You sign a letter of engagement with a practice broker. This legally commissions the use of the broker to act on your behalf during the sales process
You are visited so that we can look at your practice, value the business and ascertain all the required information that the buyer will want in order to purchase your accountancy practice
The broker works with you to produce all the documents required to successfully market and sell your practice. This will involve the preparation of a sales brochure and information pack about the strengths of your business. A full set of financial accounting data is also prepared however this is only passed onto fully screened buyers who are still interested in purchasing your practice after reviewing the marketing material.
You will review, make suggested alterations and agree to the marketing material on your practice
We market your practice and distribute to our database of already registered buyers
All buyers are fully screened and have signed a confidentiality agreement with us. We deal with day to day enquiries for information about your practice and screen for serious buyers with whom we subsequently introduce to you
When a buyer after reviewing the marketing and financial data wishes to visit your practice to look around we will make an appointment for them to visit you at a convenient time. This is to maintain the confidential nature of the sales process and not to disrupt the normal day to day workings of your business.
Offers to purchase the practice are made through us
We pass on these offers to you and help with the negotiation process based on our appraisal of the interest to date from the market about your practice. On some occasions we will proceed to sealed bids if there is more than one acceptable offer from more than one party.
A letter of acceptance subject to contract is sent to the buyer
The buyer makes a deposit to us to secure the removal of your practice from the market
The buyers legal representatives submit a heads of terms agreement which is agreed upon by both parties
The due diligence process occurs. We co-ordinate between both sets of accountants and legal representatives to facilitate this process and help the deal to progress as smoothly as possible
On satisfactory conclusion of the due diligence process a sale and purchase agreement is produced by the buyers legal representative. Once you are happy with this agreement both parties sign. Contracts are exchanged and the deal is completed
The agreed transaction value from the sale of your practice is wired to your account or solicitors account
The sales process is completed and it is time for you to enjoy the rewards for your hard work and plan the next steps in your life/career

Can I choose not to use a broker?

Yes. A significant percentage of practices are sold directly without the use of a broker.
As the sales and legal process is both time consuming and stressful a substantial percentage of those who complete the sale of their practice individually have some regrets about this decision.

Will I be expected to work in the practice after the sales process?

This depends on the type of deal that is negotiated. In all deals there is a tie in period which is normally between 1 and 2 months. During this hand over period you will need to work with the new owners to facilitate the hand over of the practice and clients. You may decide that you want to stay on in some other capacity such as a partner or silent investor. This naturally is your choice and depends on the underlying reasons for the sale.

Are brokers worth the commission fee?

We only get a fee on the successful completion of a practice sale. It is in our interest to get the maximum value for your practice in the market. It is believed that by using a broker approximately 10% higher market values are achieved than through the direct sales route. We also don’t charge you any up front brokerage fee. We only get paid by the results of our work. Because our fees are linked to a percentage of the sale then we also strive to get you the full market value at all times.

How long does it take to sell?

This depends on the type of practice, practice location, number of clients and the market demand. On average the process takes between 4-6 months from the day of marketing to complete however some practices have sold before this time frame

How do you differ from other accountancy practice brokers?

There are many different brokers in the market however we value our individual approach to each practice sale. Here are some other key fundamentals to the service that we provide:

Free seller registration
Free buyer registration
Great website marketing exposure using state of the art techniques to get your practice to the greatest number of possible buyers in order to find you the right buyer at the right price
No marketing costs or journal advertising costs to you when we market your practice
No payment/fees to us unless your practice is sold

No lengthy tie in period to use us as sole agents. If you are not happy with us we don’t prevent you from achieving your goal of selling your practice.
Full guidance during the sales process as outlined above. We offer a full brokerage service to you

When can I expect full payment for the sale of my practice?

This depends on the position of the vendor and buyer. Most vendors are interested in a complete up front sale with 100% of the fees payable on completion. This gives them the advantage of a clean break and full monetary receipt. Some buyers are interested in an earn out or deferred consideration where a % of the agreed value is paid on completion followed by another % payment after 12 months and or 24 months. This gives a lower risk approach and makes financing the deal much easier. The additional benefit is that profits from the practice can be used to fund the remaining acquisition giving obvious tax advantages. In this market, accountancy practice sales or block off fees purchases are normally an outright purchase via a full capital payment. We do not encourage vendors to agree to an earn out process. Ultimately the decision is yours and for you to negotiate. We of course are there the help advise and inform based on our previous experience in the accountancy sales market.

What are warranties?

During the negotiation of the sale and purchase agreement the buyer will ask for you to agree some warranties about the business. The number of warranties and what they are there to protect depends on the type of practice and what the due diligence process has unveiled. It is normal for the buyer to want to seek some protection over issues and events that they had no control over prior to the sale. This may be relating to you promising that you have correctly dealt with VAT, HMRC, PAYE and any outstanding claims or legal issues relating to events prior to the sale. If after the sale process there is a claim for outstanding fees/taxes then the buyer could pass this claim onto you. This would be referred to as a claw back. There is however some room for manoeuvre so if there are any outstanding issues you can disclose this to the buyer during the negotiation process. If they proceed with the deal having full knowledge of any issues then they proceed at their own risk and any mitigation from the disclosed item will stay with them.

I own the freehold to my practice premises. Can this be sold with the accountancy practice?

As your broker and a specialist in this field we can act on your behalf to sell the freehold or leasehold to your premises. We can advise you as to all the options if this is the case.

The buyer will have the option during the negotiation process to consider what he/she wants to do about the current premises. If it is leasehold then it may be easier to take on the lease. If it is freehold then this could be offered as a leasehold of sold as a freehold property to the buyer.

What is PI Insurance?

PI insurance is an industry requirement and has been for many years. This is legal cover that you will require in case a current or previous customer brings legal action against the practice (ant the new owner). You will need to ensure that this cover is in place before the sales process is completed.

Can the vendor retain clients?

Normally if you are selling a block of fees or the entire practice it would not be good for the buyer for you to entice those customers away after the sales process. There are normally warranties that you will need to agree to that this will not occur and there may also be a geographical restriction to you setting up another practice. If the vendor wishes to retain clients then this will reduce the attractiveness of the sale to the buyer and may add additional risk to them when considering to proceed. The process however is open for negotiation. Once again we could advise you.

How long is the handover period?

This can vary from a few weeks to a couple of months. It’s purpose is to ensure a smooth transition in ownership.

What happens to any work in progress?

Current clients will proceed be handed over to the new owners however fees for any work in progress will be passed back to the vendor. Typically this can be in the region of 70-80% depending on the amount of work that has been carried out..

What are claw backs?

This is where the purchaser can make a claim to retrieve some of the purchase price and normally has an agreed time period to it. Typically this is for a breach of warranty however this is most uncommon.

How can I get finance to help purchase a practice?

We can introduce buyers to financial advisors who we have worked with previously. They will be able to advise you as to the financing options available to you.

How do I get a knowledgeable solicitor for the sales process?

It is best to instruct a solicitor who works regularly in the accountancy market. We have customers who have used a variety of legal representatives and can pass on this information to you so you can make an informed choice.

I want you to sell my accountancy practice. What do I do next?

Please contact us so one of our members of staff can be allocated to deal with you and advise you on the above process. A list of our accountancy practices for sale can be seen on this link

Related reading: www.accountancyage.com

 

chiropractic practices for sale

Chiropractic Practices for Sale

View or list of chiropractic practices for sale here

There are thousands of small to medium sized chiropractor practices around the United Kingdom however traditionally these are sole operated businesses.
Throughout each year about 50-100 chiropractics enter the market and are put up for sale. the commonest reason for the sale is due to the sole owner implementing an exit strategy.
Many of these chiropractic practices for sale are profitable small businesses with a loyal customer base however one of the major stumbling blocks is the geographical location of the practice.

Our experience is that practices in major cities such as Manchester, Birmingham and London are relatively easy to sell with isolated practices posing more obstacles to a completed sale.

If you own and run a chiropractic business and would like to find out about potential solutions including mergers, acquisitions and the sales process contact us for more details. Don't sit and ask yourself "how to i sell or value my chiropractic practice or clinic". Contact us to explain your options.

 

Dental Practice For Sale

Looking for a dental practice for sale?

Below you will find a great article detailing how the dental practice sales process works. Before you read on let us firstly highlight why you should sell your dental practice though our dedicated dental broker:

  • Simple no fuss fee structure
  • Expert valuation.
  • Professional and confidential service.
  • Simple uncomplicated approach to getting you the best deal.
  • Our dedicated dental brokerage partner have years experience in this field and are recognised by us as experts in the area.
  • Fed up of having your practice advertised on a competitors website for months on end with 100's of others and still no sale? Give our broker partners a call.

 

The Dental Practice Saledental practices for sales Process:

**View our current dental practices for sale**

Selling your dental practice is both an exciting and stressful time during your career. It is difficult to continue to maintain the high levels of patient care, manage your business and engage in the sales process. This guide to selling your dental practice should provide you with valuable information to aid you with making plans that suit you. Not every two practices are the same so the more information you have to hand, the better. Here are a series of frequently asked questions to inform you when deciding to sell your dental practice:

Why would I want to sell my practice?

There are numerous reasons why you might want to sell your practice. It may be that you are retiring or simply want to realise the benefits of all your hard work and then move onto the next steps in your career/life.

How do I keep the sale of my dental practice discrete?

This is a key point and our dental broker partners fully understand the nature and requirements of our vendors. Their aim is to keep the sales process as anonymous as possible to minimise any possible interference from within a practice. Your marketing and financial data on your practice is fully anonymised however when a serious buyer wants to meet you and see your practice before they submit an offer then our brokers will need to tell them who and where you are. Don’t worry as all your potential buyers are screened and have signed confidentiality agreements prior to receiving any information on your practice.

How do I value my dental practice?

As with any other type of business there are many types of valuation methods. The two commonly used ones in the dental practice industry are multiples of EBITDA and multiples of gross profit. Our brokers knowledge of the industry gives them further market benchmarking methods to validate the correct price for your dental practice. Reasons for requesting a valuation may be because of planned incorporation, retirement, refinancing, colleague buying in or an outright sale.

What is the dental practice sales market like at the moment?

The market is buoyant with many more buyers than there are practices on the market. Our allocated brokerage team have a database of registered buyers with their exact requirements. They actively seek to pair up those new practices that come to the market with registered buyers. We always encourage new practices to be fully marketed on our website so that the correct market value is achieved. In the past this has been above the practice valuation point particularly when there are two or more interested parties in your practice.

What happens in the normal sales process?

You decide to implement your exit strategy from your business and engage in the sales process
You decide on either a direct sales process driven by you or to use the services of a dental practice broker
If you decide on the use of an experienced dental practice broker then you are guided through the remaining steps
You sign a letter of engagement with a practice broker. This legally commissions the use of the broker to act on your behalf during the sales process
You request a practice valuation in order to value the business and ascertain all the required information that the buyer will want in order to purchase your dental practice
The broker works with you to produce all the documents required to successfully market and sell your practice. This will involve the preparation of a sales brochure and information pack about the strengths of your business. A full set of financial accounting data is also prepared however this is only passed onto fully screened buyers who are still interested in purchasing your practice after reviewing the marketing material.
You will review, make suggested alterations and agree to the marketing material on your practice
 Our broker markets your practice in this website and others and distributes to their database of already registered buyers
All buyers are fully screened and have signed a confidentiality agreement with us. Our brokers deal with day to day enquiries for information about your practice and screen for serious buyers with whom we subsequently introduce to you
When a buyer after reviewing the marketing and financial data wishes to visit your practice to look around our brokers will make an appointment for them to visit you at a convenient time. This is to maintain the confidential nature of the sales process and not to disrupt the normal day to day workings of your business.
Offers to purchase the practice are made through our broker.
We pass on these offers to you and help with the negotiation process based on our appraisal of the interest to date from the market about your practice. On some occasions your case will proceed to sealed bids if there is more than one acceptable offer from more than one party.
A letter of acceptance subject to contract is sent to the buyer
The buyer makes a deposit to our broker to secure the removal of your practice from the market
The buyers legal representatives submit a heads of terms agreement which is agreed upon by both parties
The due diligence process occurs. Our brokerage team co-ordinates between both sets of accountants and legal representatives to facilitate this process and help the deal to progress as smoothly as possible. They, if required can recommend a short list of lawyers who regularly work in the dental practice sales field so that you can acquire the appropriate legal representation.
On satisfactory conclusion of the due diligence process a sale and purchase agreement is produced by the buyers legal representative. Once you are happy with this agreement both parties sign. Contracts are exchanged and the deal is completed
The agreed transaction value from the sale of your practice is wired to your account or solicitors account
The sales process is completed and it is time for you to enjoy the rewards for your hard work and plan the next steps in your life/career

Can I choose not to use a broker?

Yes. More than 50% of practices are sold directly without the use of a broker.
As the sales and legal process is both time consuming and stressful a substantial percentage of those who complete the sale of their practice individually have some regrets about this decision.

Are brokers worth the commission fee?

It is believed that by using a broker achieves approximately 10% higher market values than through the direct sales route. Experience is knowledge in this field and the maximised sale value commonly dwarfs any commission paid to a broker.

How long does it take to sell?

This depends on the type of case mix, practice location and market demand. On average the process takes between 4-6 months from the day of marketing to completion however some practices have sold before this time frame.

How do you differ from other dental practice brokers?

There are many different brokers in the market however we value our brokers individual approach to each practice sale. We believe in choice and transparency which is why our selected brokers have taken a completely different approach and offer a completely unique service. Here are some other key fundamentals to the service that our brokers provide. The choice of service is up to you.

1) Dental Practice Valuation Service:

Our team has years of experience in this field to give you the correct assessment of your practice worth. This is part of the practice appraisal service.

2) Simple no fuss Fee Structure:

Our dedicated dental brokers use a simple no fuss formulae for commission.

Other reasons to use us include:

Free seller registration
Free buyer registration
Great website marketing exposure using state of the art techniques to get your practice to the greatest number of possible buyers in order to find you the right buyer at the right price. If you are reading this now then so are possible buyers.

 

How do I transfer an NHS contract with my sale?

The PCT contract is a valuable asset to any practice owner and in the current market NHS practices are highly sought after. Following the agreement to purchase the practice and after a satisfactory due diligence process the transfer of an existing NHS PCT contract is the next step. The commissioning manager of the PCT should meet with both the outgoing and ingoing dental principle. Following the standard checks and once the commissioner is happy with the new practitioner they should arrange to cancel the existing contract and re-commission it to the new practitioner. This should be co-ordinated so the implementation date of this contract coincides with the sales process to ensure a smooth transition. 

What to do next?

If you would like our dental brokerage team to market your dental practice please contact us. If you've thought "how do i sell my dental practice" then do contact us for a confidential discussion about your available options.

To view a list of dental practices for sale please follow this link

Please note we will need to confirm your GDC number on the General Dental Council website

podiatry practices for sale

Podiatry Practices for Sale

View our podiatry practices and businesses for sale listings

Have you even asked yourself how to i sell my podiatry practice? or podiatry business? or wondered how the sales process works?

There are thousands of small independent practitioners working up and down the United Kingdom. It is not uncommon for one practice to acquire a local competitor or for practice owners to want to retire and sell on their business as a going concern.

This is one of the smallest of the niche markets that we work in however there are still plenty of practice owners who contact us wanting us to value and market their businesses. If you are looking to either sell or buy a podiatry practice then give us a ring so that we can talk you through the valuation, marketing and sales process in more depth.