If you want to sell a therapy practice one day, your clinicians are a big part of what a buyer pays for. Molly Kocher left her group practice job, and her boss asked what would have kept her.

"What can private practice give you that we can't?" Her answer: "More money."

Molly is a licensed mental health counselor (LMHC) with her own private practice. She co-founded Private Practice Resource, which makes Excel tools that help therapists forecast income, set their rate, track expenses and track continuing education.

Daniel and Molly talk about the "you won't make it in private practice" message clinicians hear, the numbers that showed her almost double her pay, and what a group practice owner could have offered her to stay. Buyers look hard at clinician retention when you're selling a group practice, so this one is for any owner who wants a team that stays through a sale.

In this episode:
→ Why therapists are told private practice is too risky, and what her numbers actually said
→ "Opposite action to anxiety": looking at the money instead of avoiding it
→ Why the continuing education tracker outsells every other tool they make
→ How she built a full caseload a year before she left her clinic job
→ Why most groups let clients follow a departing clinician for continuity of care
→ The five-year plan that would have kept her at a group practice
→ About 60-63% of Americans in therapy go to an outpatient practice, and why demand is still high after the pandemic

Thinking about selling your therapy practice one day, or want to know what it's worth before you decide?
Talk to Daniel → daniel@firesidestrategic.com

Chapters
00:00 Meet Molly Kocher
00:55 Why therapists need business tools
03:06 The tool therapists buy most
04:17 How she picked what to build
08:01 "Private practice is hard. You won't make it."
10:50 Demand for therapy after the pandemic
12:48 Advice before you leave for private practice
15:21 What would have kept her at a group practice
17:02 Does she miss working in a group?
18:59 Where to find Molly's tools

About Molly: LMHC and co-founder of Private Practice Resource → https://privatepracticeresource.com

About Daniel: Buys mental health practices and helps owners sell theirs. Former M&A lawyer. Co-founder of Fireside Strategic.

About the show: Group Practice BS is for group practice owners asking one question. How do I sell my mental health practice one day so I can retire or do something else?

Connect with Daniel → https://linkedin.com/in/danmking

Nothing in this episode is legal, tax or financial advice.

#GroupPractice #PrivatePractice #SellATherapyPractice