Exit Planning Tips
Selling a Health Information and Referral Consultants Business
With the economy struggling to rebound, the shadow inventory of health information and referral consultants businesses in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful health information and referral consultants business
Cutting corners never pays off, especially in the sale of a health information and referral consultants business.
To achieve your goals, you'll need to know the market as well as key business selling techniques. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your health information and referral consultants business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Selling a Health Information & Referral Consultants Business to an Employee
There are both benefits and drawbacks to selling a health information and referral consultants business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your health information and referral consultants business, a sale to an employee is probably not a possibility.
Tapping Into Business Networks
Today's health information and referral consultants business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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