Business Exits By Industry
Selling a Child and Adolescent Psychiatry Practice
No one said selling your business in a depressed economy would be easy. Fortunately, a child and adolescent psychiatry practice sale isn't as scary as it seems.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
However, serious buyers also understand the value of a good child and adolescent psychiatry practice. To sell your child and adolescent psychiatry practice, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
When the Sale Goes Off-Course
Many child and adolescent psychiatry practice are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other child and adolescent psychiatry practices sell below market value or languish on the market for years without attracting the interest of qualified buyers. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Laying the Groundwork
A successful child and adolescent psychiatry practice sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a child and adolescent psychiatry practice to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium child and adolescent psychiatry practice opportunity.
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