Advice on Niche Market Exit Planning
Selling a TMJ Dental Practice
Many business leaders say that now isn't the time to try to sell a TMJ dental practice. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your TMJ dental practice on the market.
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa TMJ dental practice.
Many TMJ dental practice sellers cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Why Confidentiality Matters
Highly publicized TMJ dental practice sales are risky TMJ dental practicesales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Broker vs. No Broker
When selling a TMJ dental practice, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your TMJ dental practice sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Average Preparation Time
There are no effective shortcuts for selling a TMJ dental practice. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Unless you have already started planning for your TMJ dental practice sale, it's going to take at least six months to prepare your business. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
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