Exit Planning Tips
Selling a Hospital Equipment and Supplies Retail Business
A good business is about more than dollars and sense. To make your hospital equipment and supplies retail business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
You need to get a good price for your hospital equipment and supplies retail business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
There are still plenty of hospital equipment and supplies retail business buyers looking for opportunities that present well in the marketplace.
When to End Negotiations
If the devil is in the details, the negotiation stage of a hospital equipment and supplies retail business sale is the devil's playground. Yet eventually many negotiations reach a stage where further discussion is pointless. In a hospital equipment and supplies retail business sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Current Market Conditions
No one plans to sell a hospital equipment and supplies retail business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your hospital equipment and supplies retail business as attractive as possible so to buyers right now.
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