Sell a Business Tips
Selling a Surgeons Practice
Selling a surgeons practice doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
When it comes to selling a surgeons practice, there are no shortcuts to success.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a surgeons practice sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Timing Your surgeons practice Sale
If you're feeling like your tenure as the owner of the surgeons practice is coming to an end, the time to sell is now. Some experts are telling surgeons practice sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the surgeons practice marketplace. The inventory of what we consider to be quality surgeons practices is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Sale Costs
In a surgeons practice sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a surgeons practice sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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