Business Exits By Industry
Selling a Clinics Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a clinics business sale isn't as scary as it seems.
Personal and professional concerns surround the sale of a clinics business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your clinics business a success.
If you're ready to move on, now is the right time to sell your clinics business.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your clinics 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. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your clinics business 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.
Timing the Market
Now may be the best time to sell a clinics business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on clinics businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of clinics businesses. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a clinics business that languishes on the market for months or even years. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a clinics business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
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