September 26, 2020  
 
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Selling a Family Planning Business

Many business leaders say that now isn't the time to try to sell a family planning business. But in reality, now may be the perfect time to sell a family planning business.

Today's family planning business buyers tend to be more skeptical than most about the nation's economic outlook.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a family planning business. With the right information and strategy, you could be well on your way to a successful sale

Working with a Professional Accountant

Accountants lay the financial groundwork for a 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.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. 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. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

Dealing with Buyers

Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions family planning business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Marketing a Family Planning Business

How to Sell a Business

Why Hire an Exit Planning Consultant

What Does a Business Broker Charge?


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