Smart Exit Planning Strategies for Niche Markets
Selling a Genetics Physicians Practice
Many business leaders say that now isn't the time to try to sell a genetics physician practice. At Gaebler, we think it's a great time to sell a genetics physician practice. Here's why . . ..
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Despite the overall mood of the marketplace, genetics physicians practices are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
After the Sale
Due diligence has ended and you're ready to close on the sale of your genetics physician practice. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the genetics physician practice. The sale of the business will likely result in new family dynamics. Subsequently, selling a genetics physician practice often begins with a family conversation and a mutual decision to move on the next stage of life.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a genetics physician practice sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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