Exit Planning Strategies
Selling a Vascular Medicine Practice
No one said selling your business in a depressed economy would be easy. Fortunately, a vascular medicine practice sale isn't as scary as it seems.
You need to get a good price for your vascular medicine practice. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
If you're ready to move on, now is the right time to sell your vascular medicine practice.
Timing the Market
Now may be the best time to sell a vascular medicine practice. Although the economy is generally struggling, low interest rates make vascular medicine practices more attractive to entrepreneurs who want to get in the game. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Why Confidentiality Matters
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. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. 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.
Signs You're in Over Your Head
Many vascular medicine practice are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other vascular medicine practices sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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