Sell a Business for the Best Price
Selling a Psychiatric Social Workers Business
The sale of your psychiatric social workers business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
If you plan on selling your psychiatric social workers business quickly, prepare to be disappointed.
There is no simple way to sell a business. But the most prepared psychiatric social workers business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
What About Market Conditions?
No one plans to sell a psychiatric social workers business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of psychiatric social workers businesses waiting to be listed until the economy rebounds. When that happens, the buyers' market will become even stronger and have a negative impact on prices. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your psychiatric social workers business as attractive as possible so to buyers right now.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a psychiatric social workers business that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Legal Concerns
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . 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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