Sell a Business for the Best Price
Selling an Pediatric Otolaryngology Practice
You've heard the naysayers - now isn't the time to sell a pediatric otolaryngology practice. But what they don't know is that many entrepreneurs see pediatric otolaryngology practices as a smart business investment.
The economy isn't the only thing that is uncertain these days. So are pediatric otolaryngology practice buyers, many of whom are waiting to pull the trigger on their next acquisition.
The economy hasn't squashed the market for pediatric otolaryngology 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.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. 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.
Preparing Family Members
Many sellers embarked on their pediatric otolaryngology practice sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. The decision to sell an pediatric otolaryngology practice often begins with a family conversation and a mutual decision to move on the next stage of life.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Most pediatric otolaryngology practice have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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