Exit Planning Tips
Selling a Health Departments Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a health departments business sale isn't as scary as it seems.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact health departments business sales nearly as much as sale strategy.
If you're ready to move on, now is the right time to sell your health departments business.
Broker vs. No Broker
When selling a health departments business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your health departments business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your health departments business on BizBuySell.com and other popular online business-for-sale listing sites.
Finding Health Departments Business Buyers
Qualified health departments business buyers come from a range of sources and backgrounds. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Networking is another useful tool in locating buyers. It might surprise you to learn how many health departments business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Family Issues
Many sellers embarked on their health departments business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a health departments business should allow opportunities for all family members to share their feelings and offer input about the sale process.
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