Exit Planning Advice By Market
Selling an Acupuncture Clinic
Most businesses are susceptible to economic conditions and acupuncture clinics are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
Personal and professional concerns surround the sale of an acupuncture clinic. But have you considered how your customers, vendors and employees will handle the sale?
Many acupuncture clinic owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Average Timeframes
Hoping for a quick acupuncture clinic sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your acupuncture clinic, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Selling to a Family Member
There is no easy way to sell an acupuncture clinic, not even to a family member. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
After the Sale
Due diligence has ended and you're ready to close on the sale of your acupuncture clinic. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
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