Exit Planning Tips
Selling a Health Care Plans Business
Looking for shortcuts? You won't find them when you sell a health care plans business. In this industry, a business sale takes time, effort and dedication. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your health care plans business.
Leveraging Seller Concessions
It's becoming more difficult to sell a health care plans business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Whether you realize it or not, your health care plans business has been an important part of your family life. The sale of the business will likely result in new family dynamics. The decision to sell a health care plans business has to include ample communication and shared decision-making.
Working with Appraisers
An experienced appraiser is part and parcel of a successful health care plans business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Share this article
Additional Resources for Entrepreneurs