Sell a Business Tips
Selling a Speech and Hearing Clinics Business
You've learned a lot during your tenure as a speech and hearing clinics business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to speech and hearing clinics businesses that exhibit strong financials and potential for future growth.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions speech and hearing clinics business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Sale Documents
We run into a lot of speech and hearing clinics business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. 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.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. Some experts are telling speech and hearing clinics business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the speech and hearing clinics business marketplace. The inventory of what we consider to be quality speech and hearing clinics businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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