Exit Planning Tips
Selling a Hospitals Business
Over the past few years, the hospitals business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a hospitals business during challenging economic times.
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa hospitals business.
Too often hospitals business owners sell for a price that is well below market value. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a hospitals business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
Setting the Stage
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium hospitals business opportunity.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your hospitals business, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. Good negotiation teams support sellers, giving them insight and advice about how to overcome buyer objections and drive the process forward to a successful conclusion.
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