First, you must treat your practice as a business. Many doctors do not and they stay too attached to their 'creation'. Every business you create should always be for sale if the right offer/situation were to present itself.
Secondly, know what your practice/business is really worth. Be careful as there are many people out there who only look at what equipment you have and what your tax returns showed. This is not the most accurate way to appraise a business. Many appraisals tend to be $50,000- 250,000 low.
Third, learn different ways to buy and sell a practice. If you have a 'JUMBO' practice you DEFINATELY want to learn about the 'earn out'.
Fourth, what type of transition would you prefer? Would you like immediate or short term?
These are just a handful of important questions we ask to begin your exit strategy. It is a huge step so do not take it lightly. Start the process early AND start it properly. If you do not use the right team ( including legal and financial advice) it could cost you time, legal hassles, and lots of money.
When you are ready to start your Exit Strategy please contact us at Successfulpractice@gmail.com. Just list Exit Strategy in the subject line