Mastering Niche Market Exit Planning
Selling a Nursing Homes Consultants Business
A lot can go wrong during the sale of a nursing homes consultants business even if the seller has previous business sales experience. We'll tell you how to keep your sale and your future plans on track.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to nursing homes consultants businesses that exhibit strong financials and potential for future growth.
Preparing Your Nursing Homes Consultants Business for Sale
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Successful nursing homes consultants business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your nursing homes consultants business, 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.
Turning the Tables: 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. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
When the Sale Goes Off-Course
Many nursing homes consultants business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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