Exit Planning Advice By Market
Selling an Adult Day Care Center
No one said selling your business in a depressed economy would be easy. Fortunately, a adult day care center sale isn't as scary as it seems.
Personal and professional concerns surround the sale of an adult day care center. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your adult day care center a success.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a adult day care center sale. You just need to know your buyers and structure the deal accordingly.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your adult day care center. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your adult day care center. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Finding Adult Day Care Center Buyers
It's difficult to predict where the buyer of your adult day care center will come from. To cover all your bases, you'll need to conduct a broad buyer search process. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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