Sell a Business for the Best Price
Selling a Podiatric Sports Medicine Practice
Your podiatric sports medicine practice has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
But the good news is that there is still demand for podiatric sports medicine practices that present well and offer solid earning potential.
Timing the Market
Now may be the best time to sell a podiatric sports medicine practice. With interest rates at all-time lows, it's easy to see why podiatric sports medicine practices are an appealing investment opportunity for savvy investors. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Leveraging External Resources
Rarely, if ever, do owners sell a podiatric sports medicine practice without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
How to Skillfully Address Buyer Concerns
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions podiatric sports medicine practice ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
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