Business Exit Planning
Selling a Medical Services Business
You've heard the naysayers - now isn't the time to sell a medical services business. But what they don't know is that many entrepreneurs see medical services businesses as a smart business investment.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
You'll always have an excuse for not putting your business on the market. Any medical services business can be sold at any time -- you just need to know how to influence the right buyers.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based medical services business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your medical services business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. No two medical services business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling medical services businesses.
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