Sale & Transition Advisory

Sell from strength. The number gets built long before the listing.

The strongest sale outcomes are usually built well before the practice goes to market. We help improve the business, prepare it for diligence, and carry the transaction through closing.

Transition
Preparation

The premise

Nobody pays a premium for potential.

Buyers pay for what the records show. Normalized earnings, a clean receivables position, a lease that assigns, a team that stays, and a system somebody other than you can run.

Every one of those is buildable, and none of them can be built in the ninety days between deciding to sell and going to market. That is the entire argument for starting early.

Who this is for

Three owners. Same work. Different urgency.

The owner with a runway

Selling is a year or two out and you have time to actually move the number. This is the version of the engagement that pays for itself several times over.

The owner holding an offer

Something arrived with a number in it. Before you answer, you need to know what the practice is really worth and what would happen to that number with six months of work behind it.

The owner whose deal stalled

It went to market and it did not close, or it is in diligence and going sideways. Many deals do not fail on headline price. They fail when diligence exposes issues nobody addressed early enough.

The clearest example

Uncollected receivables are worth cents. Collected receivables are worth dollars.

Aged accounts receivable get discounted hard in a purchase price or excluded from it entirely. Leaving them on the books is choosing to sell an asset at a discount rather than collect it at par.

The same holds for leases, provider dependency, financial reporting, contracts and operating systems. Issues addressed before diligence generally create better options than issues discovered during it.

What happens if you wait
It gets discounted, and it says something

Aged balances get valued at a fraction of face or carved out of the deal, and a messy aging report tells a buyer the front office is not managed. That read gets applied to everything else in the file.

What happens if you move first
You collect it at par, and diligence gets shorter

The money lands in your account before the sale rather than being negotiated inside it, and the buyer gets the system that produced the clean report, still running on day one. We charge no transaction fee on receivables.

The same dollar, two outcomes

A receivable you collect is worth its face value. The same receivable sitting on the books at closing is worth whatever a buyer decides to pay for it.

Collected before the sale, through the management program 100¢ Full face value, in your account before closing Left on the books and valued inside the purchase price ? Discounted Negotiated, carved out, or chased alone after closing Buyers discount aged receivables hard or exclude them entirely. The discount is the choice, not the market.

What we do

Readiness across everything a buyer will open.

Diligence is predictable. The same categories get examined on every deal, which means every one of them can be fixed before anyone looks.

Earnings and financials

  • Normalized EBITDA with every adjustment documented and traceable
  • Chart of accounts rebuilt so the statements read the way a buyer expects
  • Owner compensation and personal expenses separated cleanly
  • Three years of records that reconcile to each other

Revenue cycle and receivables

  • Aged balances collected before they become a discount
  • Billing workflow and adjustments cleaned up and documented
  • Collections against production brought into line
  • Payer mix and reimbursement understood before a buyer models it

Contracts and continuity

  • Lease reviewed for assignment, term, options, and landlord consent
  • Vendor agreements identified, with anything that blocks a transfer flagged early
  • Employment agreements, handbook, and compensation in order
  • Liens, equipment financing, and encumbrances resolved

Dependency and risk

  • Provider concentration reduced where it can be
  • Hygiene capacity and utilization brought to where a buyer will underwrite it
  • Referral and marketing sources documented rather than assumed
  • Roles and systems built so the practice runs without the seller in it

The transaction itself

  • Data room built and organized before the first buyer asks
  • Offers modeled against each other, including terms rather than just price
  • Diligence managed so questions get answered in hours instead of weeks
  • Post-close transition planned so the buyer inherits a running practice and the earnout, if there is one, is achievable

The arc

From first look to a closed transaction.

Each stage opens when the one before it closes. Going to market before readiness is finished is how a seller ends up negotiating against their own file.

Stage 01
PositionWhat it is worth today and what would move it
Stage 02
ReadinessThe work that changes the number
Stage 03
PackageData room, financials, and the story assembled
Stage 04
MarketBuyers engaged and offers compared on terms
Stage 05
DiligenceManaged so the deal does not stall
Stage 06
Close and transitionThe buyer inherits a running practice

Two ways to work together

However the practice goes to market,
the readiness work is the same.

01

We represent you

Readiness, packaging, buyers, diligence, and close, run end to end by one team that already knows your numbers.

Success fee
Published cascading schedule on enterprise value
02

We work with your broker

You keep your broker and your relationship. We do the readiness work that makes the practice sellable and stay on through diligence so the deal closes.

Our fee
A fractional percentage of the broker's commission, paid by the broker

The fee

Published economics. No surprises.

Under 8.5%
Published, and cascading down
as enterprise value goes up
$40,000
Minimum engagement

Our success fee is based on enterprise value and declines as transaction size increases. It is published, it is the same for everyone, and it does not flex on a call.

Accounts receivable and real property are excluded from the business sale fee. You already paid to collect the receivables, and the real property runs through a licensed agent at a fixed market rate rather than compounding with the fee to sell the business.

The engagement carries a $40,000 minimum. The work does not get smaller when the practice does, and we would rather be honest about that up front.

For brokers

Already have a broker? Good.

Most of our sell-side work runs alongside an existing broker relationship. The broker keeps the listing and the buyer process. We handle readiness, operating cleanup, financial preparation and diligence support.

The goal is simple. Give the broker a stronger asset and a cleaner file to take to market.

What you get
A listing that is actually sellable

Normalized earnings, a clean aging report, a lease that assigns, and a data room that exists before the first buyer asks for it.

A higher number to earn on

The readiness work moves the price. Your commission is a percentage of a bigger number on a deal that reaches closing.

Fewer dead deals

Deals more often fall apart over what surfaces in diligence than over headline price, and that is the part we manage.

A place to send the ones you cannot list yet

Instead of declining a practice that is two years from ready, hand it to us and get it back when it is.

How it works
You stay the broker

Your listing, your agreement, your client, your name on the deal. We work behind you and we do not solicit the relationship.

We take a fractional portion of your commission

Paid by you at close, out of a commission the work made larger. Nothing additional comes out of the seller.

Or the seller engages us directly

If the readiness work runs as its own engagement, the seller pays for it and your commission is untouched entirely.

It works in both directions

We see buyers who need a practice and sellers who need a broker. Referrals do not run one way here.

The questions everybody asks

Fair questions. Straight answers.

I already have a broker. Is this a conflict?

No, and it is the arrangement we prefer. Your broker keeps the listing, the relationship, and the process. We do the readiness work and stay through diligence. Most of our sell-side work runs alongside a broker rather than instead of one.

How early should I start?

Twelve to twenty-four months before you intend to sell. Normalized earnings improve over trailing periods, receivables take time to collect, a lease renegotiation takes months, and reducing provider dependency takes longer than that. Ninety days out, most of what moves the number is already out of reach.

What does the readiness work actually cost?

The readiness work runs through Operations Management at its published monthly fee, because it is the same work. The success fee at closing is separate and it is charged on enterprise value.

Why is receivables collection not part of the sale price?

Because you already paid to collect it. Running it through the management program means the money is in your account before the transaction rather than being discounted inside it, and charging a transaction fee on top of that would be charging twice for the same dollar.

What if I decide not to sell?

Then you own a practice that produces more, collects better, and runs without you in every decision. Nothing in the readiness work is wasted on an owner who stays, which is why we are comfortable recommending it before anyone has committed to a sale.

What happens to my team when it sells?

That depends on the buyer, and it is one of the things worth negotiating rather than accepting. Retention terms, roles, and compensation are all on the table, and we treat them as part of the deal rather than an afterthought handled in the last week.

Start here

Know what the business is worth.
Then decide what you want it to make possible.

Book a call to talk through where the practice sits and what a year of preparation would do to the number. Thirty minutes, no obligation.

Thirty minutes, no obligation. Nothing you share goes anywhere else.