535. Selling Your Practice w/ Dr. Carrie Singer

Would you rather read the transcript? Click here. In this episode, I sit down with Dr. Carrie Singer, founder of www.sellyourpractice.com and the Facebook group Mergers and Acquisitions for Mental Health Professionals, to explore one of the least-discussed but most critical topics for group practice owners: selling your practice. We walk through the full process—from how to know when you’re ready, to identifying who might buy your practice, to understanding valuations, brokers, taxes, and what life looks like post-sale. Carrie brings exceptional clarity to a confusing and often secretive topic, offering practical, compassionate, and financially informed guidance for anyone who might one day consider selling their mental health business. Main Topics Covered Why practice sales are an overlooked topic in mental health Different ways to sell: to employees, peers, or private equity What makes a practice “sellable” and how testing practices fit in Market trends and why 2021–2023 were peak acquisition years How to determine the right time to sell (and why burnout isn’t it) How valuations, multiples, and EBITDA actually work Who’s on your “sale team”: brokers, attorneys, CPAs, and financial planners How rolled equity and earn-outs work—and why cash up front matters The real costs of selling and what you actually take home Managing the emotional and cultural impact of a sale Best practices for communicating with staff and buyers Carrie’s personal lessons learned and advice for future sellers Cool Things Mentioned The Testing Psychologist mastermind groups and business consulting: www.thetestingpsychologist.com/consulting Reverb: the premier AI-powered report-writing platform for testing psychologists: www.reverbreports.com Mergers and Acquisitions for Mental Health Professionals Facebook Group: facebook.com/groups/mergersandacquisitionsformentalhealth Sell Your Practice (Carrie’s consulting site): www.sellyourpractice.com Project Equity (employee ownership models): www.project-equity.org BizBuySell (list or browse small businesses for sale): www.bizbuysell.com Merger & Acquisition firm mentioned (Mertz Taggart): www.mertztaggart.com U.S. Small Business Administration (SBA loans): sba.gov University of Pennsylvania Private Equity Online Course: online.wharton.upenn.edu Featured Resources I am honored to partner with two AMAZING companies to help improve your testing practice! PAR is a long time supporter of the Testing Psychologist podcast, and I will continue to bring you featured items from their catalog! Listen to each episode for specific product recommendations and links. Learn more at www.parinc.com. TherapyNotes is the leading EHR system for mental health practitioners. I’ve used TherapyNotes for over 10 years, and it just keeps getting better. Use this link and the promo code “testing” to get two free months and try it for yourself! www.therapynotes.com/testing The Testing Psychologist podcast is approved for CEU’s! I’ve partnered with At Health to offer CE credits for podcast episodes! Visit this link to access current and past episodes available for CE credit. You can use code “TTP10” for a discount on ALL the course credits you purchase from At Health! About Dr. Carrie Singer Dr. Carrie Singer is a Clinical Psychologist and owner of Orchard Mental Health Group, which has 165 clinicians in 10 locations throughout Maryland. Carrie has a particular interest in the intersection of business, technology, and mental health. She regularly mentors and speaks about parity and regulatory challenges in the industry, AI threats and opportunities, financial literacy for practice owners, and exit planning strategies. Get in Touch & Resources: Email: [email protected] LinkedIn: https://www.linkedin.com/in/dr-carrie-singer-a4461617/ Facebook: https://www.facebook.com/groups/sellingyourmentalhealthpractice About Dr. Jeremy Sharp I’m a licensed psychologist and Clinical Director at the Colorado Center for Assessment & Counseling, a private practice that I founded in 2009 and have grown to over 20 clinicians. I earned my undergraduate degree in Experimental Psychology from the University of South Carolina before getting my Master’s and PhD in Counseling Psychology from Colorado State University. These days, I specialize in psychological and neuropsychological evaluation with kids and adolescents. As the host of the Testing Psychologist Podcast, I provide private practice consulting for psychologists and other mental health professionals who want to start or grow psychological testing services in their practices. I live in Fort Collins, Colorado with my wife (also a therapist) and two young kids. Ready to grow your testing services? Click below to schedule a complimentary 30-minute pre-consulting call! Schedule Your Call