Niche Exit Planning Strategies
Selling a Drugs and Medications Business
Many business leaders say that now isn't the time to try to sell a drugs and medications business. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your drugs and medications business on the market.
When the economy recovers, we expect to see a sudden influx of drugs and medications businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
If your exit strategy involves selling a drugs and medications business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Family Issues
You're ready to sell your drugs and medications business, but is your family prepared for the transition? Whether you realize it or not, your drugs and medications business has been an important part of your family life. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. The decision to sell a drugs and medications business has to include ample communication and shared decision-making.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your drugs and medications business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your drugs and medications business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your drugs and medications business until the prospect has been qualified as a serious buyer.
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