How to Sell a Niche Market Business
Selling an Endocrinology and Metabolism Medical Practice
With the economy limping along, many endocrinology and metabolism medical practice owners are hesitant to put their businesses on the market. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your endocrinology and metabolism medical practice on the market.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an endocrinology and metabolism medical practice sale works.
The economy hasn't squashed the market for endocrinology and metabolism medical practices. 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.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your endocrinology and metabolism medical practice. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your endocrinology and metabolism medical practice until the prospect has been qualified as a serious buyer.
Post-Sale Details
The way you exit your endocrinology and metabolism medical practice is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Selling Time
Hoping for a quick endocrinology and metabolism medical practice sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. On average, it takes a minimum of six months to prepare an endocrinology and metabolism medical practice for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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