Exit Planning Advice By Market
Selling an Acupuncture and Chiropractor Practice
A lot can go wrong during the sale of an acupuncture and chiropractor practice these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
We are here to help you start an acupunture or chiropractic practice!
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a acupuncture and chiropractor practice.
Timing the Market
Now may be the best time to sell an acupuncture and chiropractor practice. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on acupuncture and chiropractor practices. 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.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the acupuncture and chiropractor practice on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your acupuncture and chiropractor practice. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your acupuncture and chiropractor practice more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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