Buy Allied Health Business for Sale in Australia
So, you’re looking to purchase an allied health business in Australia? There are a number of options you have available when sourcing that perfect business of your dreams. Whether you’re interested in running a well-established practice or setting up a new venture, from traditional practices to off-site and online businesses, the possibilities extend far beyond what one might expect.
Why Buy an Allied Health Business?
The NDIS, or National Disability Insurance Scheme, is a government-run program in Australia that provides support and funding for individuals with disabilities to help them achieve their goals and participate in the community. The NDIS is designed to provide tailored support and services to meet the unique needs of each individual with a disability. It covers a range of areas, including personal care, therapy and support, assistive technology, and transport. It’s also predicted to inject $64 Billion (with a B) into the Australian economy by 2030.
We’re seeing more and more businesses pop up and trying to take advantage of the NDIS and allied health. While more services is generally a good thing, some cowboys are out there. People buying a business in this space need to be mindful of that. We’ve flat out refused to work with many businesses in the past, as it was obvious they were just in it for the money. When dealing with someone’s health and wellbeing, we feel that client-care should always be #1.
Casey Jones – Head of Marketing @ CJ&CO
Buying Existing Vs New Allied Health Practices
One of the most popular routes for individuals seeking to buy an allied health business is through existing practices. Most people don’t realise it, but many established clinics are open to the idea of being snapped up. We know quite a few who have been bought out over the past few years. Some clinics hire us to grow their business purely so they can be bought out!
Buying Allied Health Businesses Online
Another option for those looking for an allied health business for sale in Australia is to utilise online resources such as classified websites and brokers. These sites often feature listings from all across the country, allowing potential buyers to search according to their location and budget. Brokers can also assist potential buyers with completing transactions more quickly, acting as intermediaries between sellers and buyers and ensuring that all legal requirements are met before any money exchanges hands.
In addition to purchasing existing businesses or using classifieds sites and brokers, prospective buyers may also choose to set up new ventures within the industry. Start-up costs will vary depending on the type of business being run but they generally involve tax obligations, licensing fees and other associated costs, such as equipment or supplies needed to get started. It is important that potential business owners thoroughly research the local legal requirements before setting out on this pathway, as these regulations can vary depending on the specific allied health niche.
Buy or Start Your Own Allied Health Practice?
If you’re an allied health professional, it may be better to start fresh and grow your own business, from the ground up. Align yourself with an allied health marketing agency – someone like… CJ&CO. A great agency will help you scale fast and set you up to succeed. You also (likely) won’t have the huge upfront costs and initial outlay of buying a pre-existing business.
Team vs Solo
Buyers should consider whether they would prefer an individual or team-based operation when deciding where to buy an allied health business for sale in Australia. Single practitioner operations typically require less capital upfront but require more dedication from owners who must manage all aspects of day-to-day operations alone, whereas team practices are better suited for those with multiple investments who wish to expand their reach without having sole responsibility over every aspect of the enterprise.
If you want to purchase an allied health business in Australia, there are a few key steps to take to ensure a successful transaction.
First, it is important to conduct thorough research on the market and identify potential opportunities. This can be done through various sources, including online marketplaces, industry associations, and networking events. It is also advisable to consult with a business broker or advisor who can provide insights on the current state of the market and potential opportunities.
Once you have identified a few potential businesses for sale, it is crucial to conduct due diligence to thoroughly assess the financial and operational health of the business. This includes reviewing financial statements, contracts, and other key documents and conducting interviews with key personnel and stakeholders. This will provide a clear picture of the business and its potential for growth and success.
Once you have found a business that meets your criteria, it is important to negotiate a fair and reasonable purchase price. This can be done through the assistance of a business broker or legal advisor, who can provide guidance on market conditions and potential offers.
Once a purchase price has been agreed upon, the next step is to complete the legal and financial aspects of the transaction. This typically includes the execution of a purchase agreement, transferring assets, and obtaining necessary licenses and permits. Working with a qualified legal and financial team is important to ensure a smooth and successful transaction.
Regarding specific locations in Australia, some popular areas for allied health businesses include major cities such as Sydney, Melbourne, the Gold Coast and Brisbane, as well as regional areas with growing populations and demand for healthcare services.
Overall, purchasing an allied health business for sale in Australia can be a rewarding and profitable venture, with the potential for growth and success in a thriving industry.
*The information this blog provides is for general informational purposes only and is not intended as financial or professional advice. The information may not reflect current developments and may be changed or updated without notice. Any opinions expressed on this blog are the author’s own and do not necessarily reflect the views of the author’s employer or any other organization. You should not act or rely on any information contained in this blog without first seeking the advice of a professional. No representation or warranty, express or implied, is made as to the accuracy or completeness of the information contained in this blog. The author and affiliated parties assume no liability for any errors or omissions.