November 19, 2019 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

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Selling a Company


Selling an Aviation and Aerospace Medical Practice

Most businesses are susceptible to economic conditions and aviation and aerospace medical practices are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.

Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofan aviation and aerospace medical practice.
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Does that mean selling your aviation and aerospace medical practice will be a piece of cake? No -- but you might be surprised to learn that the aviation and aerospace medical practices that are selling these days are finding success though simple, common sense selling strategies.

Maintaining Objectivity

Emotions run high during the sale of an aviation and aerospace medical practice. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.

Business Valuation

Professional appraisers can use three methods to determine the value ofan aviation and aerospace medical practice: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your aviation and aerospace medical practice based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.

Legal Concerns

A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.

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Given your interest in exit planning and in aviation and aerospace medical practices, you might find these additional resources to be of interest.

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