Sell a Business Tips
Selling a Sports Medicine Practice
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your sports medicine practice, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Personal and professional concerns surround the sale of a sports medicine practice. In our experience, a common owner concern is how the sale will affect customers and employees.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your sports medicine practice sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. During the selection process, look for brokers with a proven track record of successful sports medicine practice sales. Take our word for it -- sports medicine practices are unique businesses and you need a broker who understands how to properly market your sports medicine practice to prospective buyers. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling sports medicine practices.
Average Timeframes
Hoping for a quick sports medicine practice sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your sports medicine practice, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your sports medicine practice's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your sports medicine practice.
Share this article
Additional Resources for Entrepreneurs