Advice on Niche Market Exit Planning
Selling a Trauma Surgery Practice
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet trauma surgery practices continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
We're seeing a high volume of shadow inventory in the business-for-sale market.
There is no simple way to sell a business. But the most prepared trauma surgery practice sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your trauma surgery practice are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a trauma surgery practice. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their trauma surgery practices.
When to End Negotiations
If the devil is in the details, the negotiation stage of a trauma surgery practice sale is the devil's playground. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a trauma surgery practice sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Share this article
Additional Resources for Entrepreneurs