Profitable Niche Market Exit Plans
Selling an Orthopedic Braces Business
The decision to sell your orthopedic braces business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Dire economic forecasts have forced many orthopedic braces business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to orthopedic braces businesses that exhibit strong financials and potential for future growth.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Professional Appraisals
An experienced appraiser is part and parcel of a successful orthopedic braces business sale. 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.
The Emotions of a Business Sale
There is no easy way to say goodbye to your business. You probably have good reasons for selling your orthopedic braces business now, but that doesn't make the emotions you will experience any easier. 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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