Advice on Niche Market Exit Planning
Selling a Travel Medicine Practice
No one said selling your business in a depressed economy would be easy. Fortunately, a travel medicine practice sale isn't as scary as it seems.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Most travel medicine practices are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
The Case for Confidentiality
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Post-Sale Details
As your travel medicine practicesale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
What to Expect in a Travel Medicine Practice Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your travel medicine practice. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a travel medicine practice sale by setting realistic expectations before you list your business.
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