Chiropractic Exit Strategies: Dr. Tim Wakefield & Ethos Business Academy (part 2)

You spent decades building your practice. What happens when it’s time to leave it?

In Part 2 of our conversation with Dr. Tim Wakefield, founder of Ethos Business Academy, we tackle one of the most important—and often overlooked—topics in chiropractic: retirement, succession, and exit strategy.

Too many chiropractors approach retirement assuming they’ll simply find a buyer when the time comes—or, if they can’t, close the doors. Dr. Wakefield explains why that approach can leave significant value on the table and why a successful transition should begin years before your final day in practice.

We discuss why chiropractors should begin planning their exit 3–5 years in advance—or even earlier, and how that time can be used to strengthen systems, improve compliance, optimize financial performance, develop leadership, increase practice value, and identify potential buyers.

We also explore:

• Why retirement is about more than being financially ready
• The loss of identity many doctors experience when they leave practice
• Why a practice you think is “unsellable” may have more value than you realize
• New buyer opportunities beyond simply selling to another chiropractor
• Why closing the doors may actually be your most expensive option
• How succession planning can increase practice value
• The importance of CPAs, attorneys, valuation experts, and retirement advisors
• Preserving your patients, staff, culture, and professional legacy
• What life after chiropractic practice can look like

Dr. Wakefield also shares his own experience selling a chiropractic practice and transitioning into retirement—and why that experience helped shape his work through Ethos Business Academy.

Whether retirement is three years away or ten, the message from this episode is simple:

Don’t wait until you’re ready to retire to start planning your retirement.

🎙️ The Society — the official podcast of the Chiropractic Society of Wisconsin.

Hosted by Dr. Zach McCabe.