If you’re a plastic surgery practice owner contemplating a future sale, your ability to command the highest possible asking price hinges on how well you prepare in advance. A successful sale isn’t just about finding the right buyer—it’s about building, showcasing, and transferring value in a way that instills confidence and excitement in potential purchasers. Below, we outline key strategies to help plastic surgeons position their practices for a premium valuation.
1. Start Preparing Early—Ideally 2–3 Years in Advance
Valuation improvements take time. Whether you’re hoping to boost revenue, reduce risk, or streamline operations, beginning early gives you time to optimize your financials and fix areas that could reduce your asking price. An early start also signals to buyers that your practice is professionally managed.
2. Clean, Organized, and Accurate Financials
One of the first things buyers will scrutinize is your practice’s financial records. Make sure:
- You have at least 3 years of clean, GAAP-compliant financial statements.
- Personal expenses are separated from business expenses.
- Your practice shows consistent growth or profitability trends.
- AR (accounts receivable) and payer mix are clearly documented.
Consider hiring a healthcare CPA to do a pre-sale audit and identify financial red flags.
3. Build a Strong, Transferable Brand
A practice with a loyal patient base, consistent lead generation, and strong online presence has real intangible value. Boost your brand equity by:
- Maintaining a well-designed, mobile-optimized website.
- Generating strong online reviews (Google, RealSelf, Yelp).
- Cultivating a high-performing social media presence.
- Ensuring your branding isn’t solely tied to your personal identity if you plan to exit completely.
4. Maximize Profitability
High revenue is important, but buyers focus on EBITDA (earnings before interest, taxes, depreciation, and amortization). You can enhance EBITDA by:
- Eliminating unnecessary or discretionary expenses.
- Renegotiating vendor and supply contracts.
- Increasing the efficiency of your scheduling and patient flow.
- Introducing high-margin services like injectables, skin care lines, or med spa services.
5. Document Operational Systems
A buyer wants to step into a well-oiled machine. Document your:
- Standard operating procedures (SOPs).
- Staffing structure and compensation.
- EMR workflows and software.
- Marketing plans and patient acquisition strategies.
The more turnkey your practice is, the more valuable it becomes.
6. Secure and Stable Staff
Practices with low staff turnover and experienced, well-compensated teams are more attractive to buyers. If your key staff members (e.g., nurse injector, patient care coordinator) are planning to stay post-sale, it enhances the practice’s stability and appeal.
You as the owner should be prepared to continue to practice 3-5 years after the sale of your practice to maximize the level of interest in buying your practice.
7. Evaluate Real Estate Options
If you own your building or office condo, decide whether you plan to:
- Include the real estate in the sale.
- Offer a long-term lease to the buyer.
- Sell the building separately.
Practices with favorable lease terms or real estate options often sell more easily.
8. Engage a Firm That Can Assist You Market the Sale of Your Practice
ESA Medical Resources can assist you connect with individuals and groups that are seeking to buy plastic surgery practices. You with the assistance your accountant can vet prospects that we provide you that are interested in buying your practice. If you need the assistance of a broker we also work brokers that have experience brokering the sale of plastic surgery practices.
A seasoned broker with experience in plastic surgery practice sales can help:
- Value your practice accurately.
- Create a professional offering memorandum.
- Confidentially market your practice to qualified buyers.
- Negotiate favorable terms and assist with due diligence.
9. Be Prepared for Due Diligence
Buyers will look under the hood. Be ready to provide:
- Tax returns and profit/loss statements.
- Staff contracts and benefit info.
- Equipment lists and depreciation schedules.
- Lease agreements and vendor contracts.
Have this information organized ahead of time to avoid delays or suspicion.
10. Decide on Your Post-Sale Involvement
Will you stay on for a transition period? Retire completely? Continue as a contractor? Clarify your goals before negotiations start, as buyers will want to know what role (if any) you’ll play after the transaction.
Conclusion
The key to commanding top dollar when selling your plastic surgery practice is preparation. By organizing your financials, optimizing your operations, strengthening your brand, and working with professionals, you can present your practice as a thriving, high-value opportunity that commands attention—and a strong offer.
If you’re beginning to think about selling in the next few years, now is the time to begin these preparations. Your future buyer—and your bank account—will thank you.
Contact ESA Medical Resources today. We are available anytime for a no obligation discussion. You can email david@esamedialresources.com or call/text 270-266-1024.
