Business Exits By Industry
Selling a Cancer Clinic
Market shifts affect business values and the cancer clinic market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a cancer clinic in the current economic environment.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a cancer clinic.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your cancer clinic.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your cancer clinic. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your cancer clinic. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your cancer clinic more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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