Exit Planning Tips
Selling a Hand Therapy Business
Think hand therapy business sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Selling a hand therapy business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
In today's market, there is still plenty of room for hand therapy businesses that demonstrate solid earning capacity and a robust market position.
What About Market Conditions?
No one plans to sell a hand therapy business in a down economy. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. 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 hand therapy business as attractive as possible so to buyers right now.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your hand therapy business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your hand therapy business's assets and possible even make repairs or upgrades to increase the total value of the operation.
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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