Niche Exit Planning Strategies
Selling a Disabled and Elderly Home Health Care Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet disabled and elderly home health care businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Cutting corners never pays off, especially in the sale of a disabled and elderly home health care business.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Handling Unexpected Outcomes
When you made the decision to sell your disabled and elderly home health care business, you had a specific set of outcomes in mind. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your disabled and elderly home health care business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your disabled and elderly home health care business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your disabled and elderly home health care business until the prospect has been qualified as a serious buyer.
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for disabled and elderly home health care businesses than other buyers.
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