Exit Planning Tips
Selling a Hair Implants and Transplants Business
A lot can go wrong during the sale of a hair implants and transplants business these days. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Despite the conventional wisdom, we believe current economic conditions are right for selling a hair implants and transplants business. With the right information and strategy, you could be well on your way to a successful sale
Realistic Expectations
Emotions run high during the sale of a hair implants and transplants business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Buyer Concessions
Most hair implants and transplants business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Sale Documents
We run into a lot of hair implants and transplants business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
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