Niche Exit Planning Strategies
Selling a Diabetes Medical Practice
We hear from a lot of business owners who are timid about listing their diabetes physicians practice. Despite the mood of the market, we think there are still opportunities to receive a good price for your diabetes physicians practice. Here's what you need to know . . .
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Despite the conventional wisdom, we believe current economic conditions are right for selling a diabetes physicians practice. We'll tell you what you need to know to achieve a successful sale outcome
Laying the Groundwork
Effective diabetes physicians practice preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium diabetes physicians practice opportunity.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based diabetes physicians practice sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Sale Documents
In a diabetes physicians practice sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your diabetes physicians practice may be a waste of time.
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