How should I prepare my naturopathic practice for a buyer?

A buyer of a naturopathic clinic wants to know what they are really getting. Expect buyers to ask how many patients come because of you personally. Your job as a seller is to show, honestly, how much of the clinic stands on its own, and to make the transition as easy as you can.

Your patients and the clinic’s

Be ready to explain who sees whom. Which patients are yours, which belong to associates, and which come through the clinic’s own marketing, referrals or location? A plain summary helps a buyer more than a long story. Remember too that patient files carry duties of privacy, so ask your lawyer how a buyer may see them and when.

Associates, staff and suppliers

Talk with your associates before a buyer does. If they know the plan, they are more likely to stay, and a buyer will ask about them. Gather your dispensary stock records, supplier accounts, equipment lists and lease. See our page on what happens if a key employee quits before closing for why this matters.

Records and handover

Keep your books, appointment records and expense records tidy and current. A buyer’s accountant will read them closely. Offer a handover period in which you introduce patients, suppliers and the landlord to the new owner. Think now about how long you are willing to stay, and what you will do about your own patients who want to follow you.

Check the buyer may own the clinic

Not every buyer may own a naturopathic practice. Ask any serious buyer to confirm with the regulator and their lawyer that they can, and ask your own lawyer to look at the sale terms. If you are still unsure about selling, read can I change my mind about selling.