Business Exits By Industry
Selling a Cancer Care Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the cancer care business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a cancer care business during challenging economic times.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a cancer care business, capital restrictions are holding them back.
The business-for-sale market is extremely dynamic. That's why we think it's important for cancer care business owners to know that it's possible to sell a business in any economy. You just need to know your buyers and structure the deal accordingly.
Preparing Your Cancer Care Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive cancer care business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Branding, market positioning, and revenue growth take time, but they directly influence the price your cancer care business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a cancer care business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
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