Selling a Company Advice
Selling an Ultrasound Medical Imaging Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a ultrasound medical imaging business sale isn't as scary as it seems.
Selling a ultrasound medical imaging business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
To sell an ultrasound medical imaging business these days, you need to apply the right combination of preparation, strategy and common sense.
Emotional Considerations
Prepare yourself to feel a broad range of emotions when you sell an ultrasound medical imaging business. From hopefulness to remorse, it's all part of exiting of your company. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your ultrasound medical imaging business is worth. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your ultrasound medical imaging business on the market.
Signs You're in Over Your Head
It's not uncommon for the owners of small ultrasound medical imaging businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their ultrasound medical imaging businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. Hire a broker and conduct a professional appraisal ASAP.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based ultrasound medical imaging business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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