This article was first published in The Podiatrist and has been updated and edited for The New Podiatrist. It remains highly relevant to some practitioners.

A decision many delay 

There may come a point when you no longer want to treat other people’s feet and instead begin to think seriously about stepping away from practice. 

For many podiatrists, that moment arrives later than expected. And by then, options can be limited. 

“We get podiatrists calling us all the time asking how they can exit their practice,” says Katie Harwood, professional support officer at the Royal College of Podiatry. “What often happens is that someone reaches their final year of work, after building a business over many years, only to discover they can’t find a successor.” 

The consequence is not just financial. It can affect continuity of care, staff stability and the long-term future of the business itself. 

“Members need to be thinking about this much earlier,” she says. “Ideally from the start of their practice-owning journey.” 

Start earlier than you think 

Time is the single most important factor in a successful exit. 

As a rule of thumb, planning should begin at least three years before your intended retirement date and earlier if possible. 

“Even if you’re not taking action straight away, thinking it through early gives you options,” says Harwood. “Leaving it until six months before you want to stop working can significantly limit what’s achievable.” 

Early planning also allows time to: 

• make operational improvements  

• strengthen profitability  

• identify and develop a successor 

Understand your options 

Selling the practice is only one route. 

Depending on your circumstances, alternatives may include: 

• bringing in a partner or successor gradually  

• employing and mentoring a future owner  

• stepping back from clinical work while retaining ownership  

• selling to a corporate provider  

• structuring a sale over time through instalments  

The right approach will depend on your financial position, the structure of your business and what you want from retirement. 

The College’s professional support team can help members explore these options in the context of their individual situation. 

Choosing the right successor  

A successful exit is not just a transaction – it is a handover of responsibility. 

Beyond financial considerations, practice owners often want reassurance that: 

• patients will continue to receive high-quality care  

• staff will be supported  

• the ethos of the practice will be maintained  

Finding the right successor takes time. Another reason early planning matters.

Valuing your practice 

There are widely circulated ‘rules of thumb’ for valuing a practice, but these should be treated with caution. 

Simple formulas rarely account for: 

• underlying profitability  

• trends in performance  

• local market conditions  

• dependence on the owner  

• business model and scale  

A specialist valuation is usually a better starting point, particularly if you are serious about selling. 

People matter most 

Patients and staff are central to the value and continuity of any practice. 

Deciding when, and how, to communicate your plans requires careful judgement. 

The considerations will vary depending on whether you are: 

• a sole trader  

• in partnership  

• operating as a limited company  

In all cases, taking professional advice early can help avoid missteps.

Take professional advice 

It can be tempting to manage the process informally, particularly if you are selling to someone you know. 

However, given the financial and legal complexity involved, this is rarely advisable. 

You should seek: 

• legal advice to structure the deal properly  

• accounting advice on financial implications  

• tax and pension guidance at an early stage 

Selling a practice: no one-size-fits-all 

For those considering a sale, the reality is more complex than many expect. 

Dom Watson, a specialist in healthcare business exits, has worked with hundreds of practice owners across the sector. 

“Selling a practice is nothing like selling a house,” he says. “The value isn’t in how it looks – it’s in how it performs as a business.” 

Be realistic about value 

Practice owners often look at advertised sale prices and assume similar valuations apply to their own business. 

“Those figures are often aspirational,” Watson says. “They don’t always reflect what the market will actually pay.” 

A more detailed assessment can sometimes reveal opportunities to increase value before going to market. 

In one case, Watson’s team worked with a practice to improve profitability over six months, resulting in a significantly higher valuation. 

It’s more than a financial decision 

Exit planning is not purely about money. 

Watson emphasises the importance of thinking about life after practice: 

• how will you spend your time?  

• what will replace the sense of purpose?  

• what does a sustainable retirement look like?  

“Some people assume they want to stop completely,” he says. “But the reality can be quite different.”

A practitioner’s perspective 

Paul Simons sold his practice after 25 years, having built it from scratch. 

“I started planning about three years ahead,” he says. “I’d read that many podiatrists leave it too late, and that stayed with me.” 

What followed was more complex than expected. 

“The financial and legal aspects required far more care than I’d imagined,” he says. “And I was very conscious of finding the right person to take over for my patients.” 

Lessons from practice 

Reflecting on the process, Simons highlights several practical steps: 

• start detailed planning at least 18 months in advance  

• seek a realistic valuation early  

• understand how much the business depends on you personally  

• prepare clear financial records, including several years of accounts  

• use local demographic data to demonstrate future potential  

• plan for tax implications well in advance  

Communication also proved critical. 

“I was open with patients about my plans,” he says. “Once I had a buyer, I introduced her gradually and involved her in the practice before the handover.” 

He also invested time in the transition itself, including a community event to introduce patients to the new owner. 

Getting the ending right 

For many podiatrists, their practice represents years, or decades, of work. 

Exiting well is not simply about stepping away. It is about: 

• protecting what has been built  

• ensuring continuity for patients  

• and securing the right outcome for the next stage of life  

Those who plan early have the greatest chance of doing all three. 

Links and references 

Preparing to sell your podiatry clinic – how to avoid the emergency exit and retire happy 8 September 2026, 19:30 – 20:30 (online) 

A Royal College of Podiatry webinar covering practical considerations when exiting practice. 

Book your place for the webinar.