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Selling a Licensed Psychologists Business
You've invested time, effort, and creativity into building your licensed psychologists business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Dire economic forecasts have forced many licensed psychologists business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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 licensed psychologists business.
Average Timeframes
Hoping for a quick licensed psychologists business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your licensed psychologists business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based licensed psychologists business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Signs You're in Over Your Head
Many licensed psychologists business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
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