How to Sell a Niche Market Business
Selling an Emergency and Critical Care Physician Practice
Your emergency and critical care physician group is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Despite your best intentions, great business sales don't happen overnight.
Too often emergency and critical care physician group owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put an emergency and critical care physician group up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on emergency and critical care physician practices. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. At Gaebler, we recognize the value of timing the sale of your emergency and critical care physician group. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your emergency and critical care physician group's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. A pre-listing appraisal also gives you the opportunity to document the condition of your emergency and critical care physician group's assets and possible even make repairs or upgrades to increase the total value of the operation.
Professional Appraisals
An experienced appraiser is part and parcel of a successful emergency and critical care physician group sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
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