Exit Planning Techniques By Market
Selling a Family Practice Physician Referral Business
Think family practice physician referral business sales have dwindled to a standstill? Think again. Here's what you need to know to get a fair price for your company.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a family practice physician referral business, capital restrictions are holding them back.
There is no simple way to sell a business. But the most prepared family practice physician referral business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Advertising Your Sale
The best family practice physician referral business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. Business brokers are skilled at publicizing family practice physician referral business sales while maintaining the confidentiality that is critical to your business.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. On the one hand, confidentiality is critical for a successful family practice physician referral business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the family practice physician referral business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Legal Concerns
In a family practice physician referral business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
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