My close friend owns a hearing aid clinic in GA. She’s recovering from Covid and her husband is in a wheelchair. Short version, she is not likely to be able to return to her practice any time soon, and is now considering selling the practice or getting another audiologist to take over the practice. The practice has been very successful until this health issue intervened. What is the process for initiating this? Any help will be appreciated.
Prfessional offices generally have their own agents, works like a real state office but specializes in one particular area - Medical and Dental practices work this way and a quick googling makes it appear to me that audiology offices do as well, just not as large. Google “Audiology offices for sale” and you’ll get some hits, scan through them and lopok for agents.
There are options, turn key sales, buy in with eventual buy out or buy the practice but allow the existing ower to work as an rmplyee. The later has many advantages is usually best but the consultant would work that out and give figures.
It gets complicated - banks may not be willing to lend 100% or even less, requiring the owner to “Tote part of the note”. Then there is inventory and accounts receivable to deal with, it takes a pro.
Also, is this a franchise like Miracle Ear? If so, they’ll have a say so in the deal as well.
Ahat about the building and the land? Inclde it with the business or rent it for some income.