It's a fact: Successful business sales take time.
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There is no simple way to sell a business. But the most prepared alternative medicine practice sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Current Market Conditions
No one plans to sell an alternative medicine practice in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of alternative medicine practices will flood the market and drive prices down even further. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your alternative medicine practice as attractive as possible so to buyers right now.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions alternative medicine practice ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your alternative medicine practice. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your alternative medicine practice in the business-for-sale marketplace. But your knowledge and personal insights about the alternative medicine practice are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the alternative medicine practice to gain an objective sense of fair market value.
Given your interest in exit planning and in alternative medicine practices, you might find these additional resources to be of interest.
If you plan on opening an alternative medicine practice, these helpul resources may be just what you've been looking for:
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