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Selling a Cat Hospital
When it's time to sell your cat hospital, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
Personal and professional concerns surround the sale of a cat hospital. In our experience, a common owner concern is how the sale will affect customers and employees.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a cat hospital. We'll tell you what you need to know to achieve a successful sale outcome
Post-Sale Details
Due diligence has ended and you're ready to close on the sale of your cat hospital. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Finding Cat Hospital Buyers
It's difficult to predict where the buyer of your cat hospital will come from. So you'll need to take a diverse approach to identifying prospective buyers. That means listing your cat hospital in trade-specific directories as well as general business-for-sale databases. networking may also prove to be a valuable resource for identifying prospective buyers, but only to the extent that it can be done discreetly.
Average Preparation Time
There are no effective shortcuts for selling a cat hospital. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey cat hospital operation. Since all of this takes time and effort, a cat hospital can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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