Selling Your Practice With Joshua Catlett

In today’s episode, broker, investor and founder of Verilo, Joshua Catlett joins the show. Discover how to value your practice and why the marketplace or investors benefits small business. Learn the model Joshua uses to value businesses and how the investment landscaping is changing for private health clinics.Clinic not working perfectly? Book a free chat with Gilly to find out how to fix it! bit.ly/osteobizchat KEY TAKEAWAYS The marketplace for investors largely fluctuates quarterly and as a result of the banks becoming stricter with lending parameters, small businesses are benefiting as fewer funds are available to investors.Value the goodwill within your practice separately from the property when selling. Often clinic owners miss out by packaging the business and the property together where there is an opportunity to lease the property back to the investor and generate a residual income.To determine the value of your practice you must first understand how much profit the business is able to sustain over time. Typically this is 15-20% of the overall turnover. Businesses valued under 200-250k tend to return a 2-2.5x multiple from an investment perspective.When selling your practice It’s important to find a broker that you trust and will value your business accurately. BEST MOMENTS “A buy-and-build strategy is effectively buying other clients and improving upon them.”“I was always a much better business person than I was a physician.”“I’ve seen a large amount of smaller businesses selling quickly as investors cannot access larger levels of funding easily.”“Lenders are much more happy to lend where an investment includes property.”“Is your profit number 15-20% of your turnover?” VALUABLE RESOURCEShttps://verilo.co.uk/The Osteobiz mastermindwww.osteobiz.as.me/consultationwww.osteobiz.com CONTACT METHODhttps://www.instagram.com/gillywoodhouse/[email protected]://business.facebook.com/Osteobiz/ABOUT THE HOSTSince 2013, Gilly Woodhouse has been inspiring and developing Osteopaths, other healthcare professionals and their clinics. With a wealth of entrepreneurial skills gained over a lifetime of creating businesses from scratch both in the UK and abroad, Gilly shares these experiences as well as illustrating how her clients have vastly improved their practices by streamlining operations and improving their marketing skills. The Osteobiz team of six now comprises Osteopath clinic owners or members of an Osteo family and together support over 100 worldwide clinic owners.Topics covered are marketing, operations, team management, legacy and exit strategy, operating procedures, gold standard patient care, tech support, boundaries and so much more.ABOUT THE GUESTJoshua, has over a decades experience in successfully buying, building, and selling private health clinics. He successfully built and exited one of the largest private physio clinic groups in the UK and, as a former health professional, he brings a unique perspective to the business broking industry. Joshua founded Verilo with the goal of empowering clinic owners to maximise the value of their hard work and successfully navigate the next chapter of their business journey. Through Verilo, clinic owners can look back on their legacy with pride and confidently move forward to new opportunities.