Profitable Niche Market Exit Plans
Selling an Otolaryngology Medical Practice
We hear from a lot of business owners who are timid about listing their otolaryngology medical practice. Despite the mood of the market, we think there are still opportunities to receive a good price for your otolaryngology medical practice. Here's what you need to know . . .
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an otolaryngology medical practice.
There is no simple way to sell a business. But the most prepared otolaryngology medical practice sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your otolaryngology medical practice. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put an otolaryngology medical practice up for sale. Although the economy is generally struggling, low interest rates make otolaryngology medical practices more attractive to entrepreneurs who want to get in the game. Sooner or later, rates will rise, increasing the risk for prospective buyers of otolaryngology medical practices. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Sweetening the Deal
Today's otolaryngology medical practice buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young otolaryngology medical practice owner, they can be critical launching points for their ownership journey.
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