Profitable Niche Market Exit Plans
Selling an Oral Surgery Practice
A lot can go wrong during the sale of an oral surgery practice even if the seller has previous business sales experience. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
You need to get a good price for your oral surgery practice. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to oral surgery practices that exhibit strong financials and potential for future growth.
When the Sale Goes Off-Course
The oral surgery practice-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Valuation Methods
The methods for valuing an oral surgery practice vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. Appraisals based on the asset method gauge value as a factor of the company's real property and non-tangible assets; appraisals based on the income method consider the business's anticipated revenue. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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