n this episode, you'll discover:

• The 3rd party in every deal: the banker
• The importance of securing financing in any deal
• Lots of opportunities in practice acquisition
• De Novo (opening new business) vs Acquisition (buying an existing business) the step by step guide to securing financing

Episode Highlights

00:50 - Introduction to the topic of acquisition, emphasizing the benefits of buying a practice instead of starting a de novo.

02:51 - The importance of not making assumptions, especially for first-time buyers.

04:10 - Three major dynamics affecting practice transitions: post-COVID hangover, baby boomers aging out, and economic uncertainty.

06:06 - The need for proper planning and clean financials to make the practice more attractive to buyers.

10:37 - The value of seller financing as it is viewed positively by banks, as it keeps the seller engaged and vested in the business's performance.

16:49 - The role of documentation and due diligence in the process of selling and building trust with the banks.

27:27 - The pros and cons of buying a practice vs. starting a practice.

33:20 - The concept of arbitrage, where buyers can improve the business by increasing charges, adding services, or growing patient numbers.

38:57 - The differences between asset and stock purchases, noting that asset purchases are more common and forgive past sins.

44:48 - The benefits of expanding with SBA loans, including the potential for zero down and expedited vetting processes.

Resources Mentioned

To learn more about the REM CEO Program, please visit: http://www.theremarkablepractice.com/rem-ceo

Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book –

The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• Lessons learned from private equity groups scrutinizing the business; and how that can be applied to your business today to make millions
• Navigating the rough seas of change in a business
• What we need to know about the chiropractic business landscape now
• What we need to know about what’s coming next in chiropractic

Episode Highlights

00:56 - An introduction to Dr. Brian Capra and the conversation, focusing on the "last, now, and next" framework

03:49 - The need to re-engage and re-motivate, leading to a deeper understanding of private equity, valuations, and multiples.

06:29 - The complexity of merging companies and the importance of advisors in the process.

09:41 - The value of having a platform with multiple products to increase valuations as well as value to customers.

15:15 - The importance of building trust and credibility with customers through various services and products.

20:19 - The significant challenge of a cyber attack on Change Healthcare, which affected insurance billing and caused a backlog of 200,000 claims.

22:25 - The need to build an infrastructure to support rapid growth.

27:42 - The potential of AI to scale the business and the importance of embracing new technologies.

Resources Mentioned

To learn more about the REM CEO Program, please visit: http://www.theremarkablepractice.com/rem-ceo

Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• Fully-Loaded Books is the requirement of a Remarkable Business
• How should you ACCOUNT for your Compensation on your books?
• How to arrive at a TRUE Profit and Profit Margin
• Understand the difference between Direct and Indirect costs in your business
• Differentiate between COGS and COSD
• Calculate owner’s discretionary earnings (ODE) or Seller's discretionary earning (SDE)

Episode Highlights

00:49 - The importance of discussing self-compensation which is often overlooked.

02:34 - The necessity of setting up a compensation model that energizes the owner.

04:01 - A look at the "Remarkable Money Metrics" as part of the vital signs and standards for business compensation.

05:09 - The three ways that a business owner gets paid.

08:01 - The importance of understanding business compensation regardless of your current level of knowledge.

12:15 - Scenario 1 - A look at the framework for compensation in a million dollar practice.

24:14 - Scenario 2 - A look at compensation in a $500,000 practice.

28:09 - Scenario 3 - Compensation framework in a $750,000 practice

29:59 - The importance of paying oneself right and using the provided framework to scale business compensation.

Resources Mentioned

Download your copy of the REM Money Metrics here: www.theremarkablepractice.com/podcast-ep278-moneymetrics

To learn more about the REM CEO Program, please visit: http://www.theremarkablepractice.com/rem-ceo

Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book –

The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business