Exit Planning Tips
Selling a Head and Neck Surgery Practice
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet head and neck surgery practices continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
It's a fact: Successful business sales take time.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your head and neck surgery practice.
Valuation Methods
Multiple valuation methods exist for a head and neck surgery practice. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Average Timeframes
Hoping for a quick head and neck surgery practice sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your head and neck surgery practice, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
How to Work with Business Brokers
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the head and neck surgery practice-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your head and neck surgery practice. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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