Should you take on a business partner in your clinic?
If you decide to do so, how do you best structure a partnership?
Join me and Peter Eckhardt for this lunchtime webinar on the pro's and con's of taking on a partner in your clinic(s).
Peter has been a physiotherapy practice owner for 36 years, mostly with his wife Debbie Crawford who is also a physiotherapist. In the last 10 years they have partnered with other physiotherapist to successfully start two practices that each grew to over 1M in turnover. They didn’t do any clinical work in these two practices but instead focused on supporting their partners to make their mark and grow the practices. In this webinar he will describe his journey of business partnership, the good the bad and the ugly.
Peter is an advocate for taking on practice partners but only with the right people and for the right reasons. There are many steps he recommends before launching yourself into partnership. This seminar is an opportunity to discuss your questions about practice partnership.
Agenda
Partnership- The pie must grow, and the benefits must be mutual.
Compatibility and the pre-nuptial (Shareholders agreement)
The legals- What legal entity structure can I use?
Starting capital to get going
Working in or working on the new practice. Roles and responsibilities
The five-year return if starting from scratch
How often do you meet and what do you discuss?
Exit strategies and long-term ownership plans
Practice valuation and recognising current clinician goodwill.