Smart Exit Planning Strategies for Niche Markets
Selling a General Surgeon Practice
You've heard the naysayers - now isn't the time to sell a general surgeon practice. But what they don't know is that many entrepreneurs see general surgeon practices as a smart business investment.
In a down economy, many general surgeon practice sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of general surgeon practices that are actually for sale.
If your exit strategy involves selling a general surgeon practice now, sellers need to make a strong case for buyers to purchase at or near the asking price.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your general surgeon practice now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
How Much Does It Cost to Sell a general surgeon practice?
In a general surgeon practice sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a general surgeon practice sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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