Sell a Business for the Best Price
Selling a Psychiatric Practice
Is the economy still a little shaky for a business sale? Sure it is. Yet psychiatric practices haven't heard the news and are reporting steady action on the business-for-sale market.
You need to get a good price for your psychiatric practice. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
However, serious buyers also understand the value of a good psychiatric practice. So for psychiatric practice sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Working with a Professional Accountant
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Economic Considerations
When you sell a psychiatric practice, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a psychiatric practice, successful sales sales often boil down to the business itself - not the economy.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your psychiatric practice until the prospect has been qualified as a serious buyer.
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