Exit Planning Advice By Market
Selling an Allergy and Immunology Chiropractor Practice
Many business leaders say that now isn't the time to try to sell an allergy and immunology chiropractor practice. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your allergy and immunology chiropractor practice on the market.
You need to get a good price for your allergy and immunology chiropractor practice. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
But at Gaebler, we see allergy and immunology chiropractor practices still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Selling to a Family Member
There is no easy way to sell an allergy and immunology chiropractor practice, not even to a family member. Often, a sale to a family member creates fractures within the 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.
How Much Does It Cost to Sell an allergy and immunology chiropractor practice?
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Sale Preparation Timeframes
It's critical to properly plan for the sale ofan allergy and immunology chiropractor practice. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your allergy and immunology chiropractor practice for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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