Business Exit Planning
Selling a Medical and Surgical Emergency Services Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a medical and surgical emergency services business sale. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your medical and surgical emergency services business on the market.
Dire economic forecasts have forced many medical and surgical emergency services business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Preparing for What's Next
So you've decided to sell your medical and surgical emergency services business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your medical and surgical emergency services business until the prospect has been qualified as a serious buyer.
Sale Documents
In a medical and surgical emergency services business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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