Niche Exit Planning Strategies
Selling a Dental Information and Referral Service
You've learned a lot during your tenure as a dental information and referral service owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
You won't find any magic formulas for selling a dental information and referral service, especially while the market is struggling to overcome the perceptions created by a down economy.
There is no simple way to sell a business. But the most prepared dental information and referral service sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
What About Market Conditions?
No one plans to sell a dental information and referral service 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. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a dental information and referral service. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your dental information and referral service's physical assets. But you'll need to commission your own appraisal before you put your dental information and referral service on the market to arm yourself with information for the negotiation phase. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your dental information and referral service.
Post-Sale Details
As your dental information and referral servicesale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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