Business Exits By Industry
Selling a Clinical Social Workers Business
The sale of your clinical social workers business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
You won't find any magic formulas for selling a clinical social workers business, especially while the market is struggling to overcome the perceptions created by a down economy.
Most clinical social workers businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Average Timeframes
Hoping for a quick clinical social workers business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your clinical social workers business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your clinical social workers business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your clinical social workers business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
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