Sell a Business Tips
Selling a Surgical Instruments and Supplies Business
You've heard the naysayers - now isn't the time to sell a surgical instruments and supplies business. But what they don't know is that many entrepreneurs see surgical instruments and supplies businesses as a smart business investment.
These days, the prospect of selling a surgical instruments and supplies business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a surgical instruments and supplies business sale. To improve sale outcomes, you will simply need to tailor your surgical instruments and supplies business to today's buyers.
Signs You're in Over Your Head
Many surgical instruments and supplies business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Buyer Concessions
Most surgical instruments and supplies business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Preparing for What's Next
The decision to sell your surgical instruments and supplies business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your surgical instruments and supplies business attractive to buyers.
Share this article
Additional Resources for Entrepreneurs