Profitable Niche Market Exit Plans
Selling an Oncology Practice
You've heard the naysayers - now isn't the time to sell a oncology practice. But what they don't know is that many entrepreneurs see oncology practices as a smart business investment.
According to the experts, there is currently a large volume of shadow inventory in the oncology practice market -- businesses that are waiting to be listed until the economy recovers.
At Gaebler, we're seeing oncology practice sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your oncology practice. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your oncology practice during their initial inquires. Avoid releasing details about your oncology practice until you have established that they have the financial capacity to make a legitimate offer.
What to Expect in an Oncology Practice Sale
The sale of an oncology practice can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of an oncology practice sale by setting realistic expectations before you list your business.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your oncology practice. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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