Exit Planning Advice
Selling a Knee Surgery Practice
Think knee surgery practice sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
In a down economy, many knee surgery practice sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of knee surgery practices that are actually for sale.
The economy hasn't squashed the market for knee surgery practices. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Sale Preparations for Your Knee Surgery Practice
The outcome of a business sale is largely determined prior to a market listing. Profitable knee surgery practice sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your knee surgery practice, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the knee surgery practice to gain an objective sense of fair market value.
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