How I built and sold 10 clinics to associates
Hi, this is Dr. Noel Lloyd for Five Star Management.
In this short video, I am going to show you how I built 10 profitable, successful clinics and sold them all for cash to great associates, who I’m still friends with to this day.
I had no idea when I started Chiropractic that I would go through a career ending injury and have to make some huge adjustments, but discover a wonderful process, but I did and it ended up in building ten clinics and selling those ten clinics to wonderful associates that I developed myself. I’m going to take you through the 3-step process today in the next section of this video.
So let me take you through all 3 processes I went through to go from a chiropractor who was disabled to a chiropractor who sold ten clinics to associates for cash and still in good relationships with those doctors to this day.
Number 1, this is what I help most people with, is how to find and develop an associate that does three things. You want the help that you need, just the way you want it. I started to train somebody to adjust exactly like I adjusted. Now, that process went very, very well. They were eager to learn because I hired correctly, picked the right person, and did great training.
The next thing I had was freedom and when people hire associates, that’s what they want; the help that they need and the freedom to be able to get away from the practice for more than a 3-day weekend.
The third thing is to be able to produce cash. Now, that was my first process. I was actually making more money as a disable chiropractor with multiple associates because I understood how to get the help that I wanted, the freedom that I desired, and being able to make the business part work, my associates were getting their own new patients.
Now, there is this next level and this next level is what I call level number 2. There are four components to level number 2. There is prep or process and I want to talk to you about that for just a second.
There’s a clinic operating system, it’s like a computer operating system, there’s windows, MAC OS, and applications work inside that operating system. Some operating systems are very intuitive and low stress. I worked on that so that I could drop an associate into that operating system and have it associate friendly, multiple doctor friendly.
I then learned how to hire, how to train, and how to launch. In fact, I learned that this was so much fun, that I thought instead of one associate (that’s a level one) why don’t I get multiple associates. In fact, I looked forward to hiring the next doctor. You know that the majority of associates don’t plan to stay with you forever right? That the majority of associates eventually plan to have their own practice?
If you get really, really good with the prep or process, the hiring the training, and launching, then what happens is you fall in love with this piece here, which I call the process. I became a great chiropractor factory. Young men and young women would come and work with me and we would just have a ton fun. They would go away and do their own successful practices, many times. I’ve had 70+ associates. I really, really liked this, fell in love with it.
The third piece over here and that third piece, number 3, has to do with doing multiples. I did multiple offices. I love the chiropractor, I love developing the chiropractor, and in this piece here I learned how to love developing the addition practice. Now this is what I call packaging; packaging up a great chiropractor that was developed in this system right here and putting them in a multiple office.
Now I would also put multiple DC’s in an outside office. I mean, if you could do multiple DC’s in your main clinic and do really, really well with the money part, why not multiple DC’s in an outlying clinic? I had some outlying clinics that had 2 or 3 doctors.
Then I did multiple sales and I remember that within a 10-day period I sold 3 clinics within 10 days. It just so happened that everything kind of ripened up, well it was 11 days. Within 11 days I sold 3 clinics and it was just great. I mean it was a tremendous payday for me, but it was also tremendous for the people that I found, for the people that I developed, and the people that I put in outside offices.
Now, in this particular area here, I call this the prize or the pursuit. The prize for me is just looking for the next doctor to develop. Looking for the next person who wants to go through this hiring, training, and launching process and picking through those doctors and seeing who’s the person who should go in my next clinic.
That’s how I built ten clinics and sold them all for cash to absolutely great chiropractors. Now, you know what? They didn’t get an office unless I trusted them. They didn’t get an office unless they’d gone through this process.
I teach doctors how to do this. If you want to find one associate, bring that associate in, have them provide for you the help, the freedom, and the extra cash that you deserve. Great! You know what I think’s going to happen? I think you’re going to find out that my processes and the systems that I developed are so much fun that you might think that having multiple chiropractors come in under your roof and work with you is a great idea.
If you fall in love with the packaging or the business, or the launching of another clinic, then you’ve got a system for developing great associates that go out into multiple offices if you should choose to do this.
Now, this is what I teach in Win-Win Associate Development. Right here below me in this information bar is on the next seminar that we are doing on Win-Win Associates. It’s coming up real soon. What I would suggest you do, is get registered if this is attractive to you. If you find this as beautiful as I do, if you want to help people, if you want to have fun, if you want to make great money, if you want to help great chiropractors in a Win-Win relationship, this is exactly how you do it here.
This is Dr. Noel Lloyd for Five Star Management and I know this helps.