You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a dental clinic.
(article continues below)
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to dental clinics that exhibit strong financials and potential for future growth.
Buyers of dental clinics run the gamut. Some are seasoned dental clinic veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Current Market Conditions
No one plans to sell a dental clinic 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. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. 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 dental clinic as attractive as possible so to buyers right now.
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your dental clinic. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. If you need to compensate employees to assist with the sale, their services should also be considered.
Ready to learn more? You may find these additional resources to be of interest.
If you consider dental clinics to be sales prospects, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.