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Selling a Licensed Vocational Nurses LVN Business
Don't believe anyone who tells you it's easy to sell a licensed vocational nurses lVN business. A lot of things need to happen before you can successfully exit your business. 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.
The buzz in the marketplace is that now isn't the right time to sell a licensed vocational nurses lVN business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your licensed vocational nurses lVN business can be sold at or above fair market value right now.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized licensed vocational nurses lVN business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
Broker vs. No Broker
When selling a licensed vocational nurses lVN business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your licensed vocational nurses lVN business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Advertising Your Sale
Successful licensed vocational nurses lVN business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. There are multiple ways to promote a licensed vocational nurses lVN business sale, many of which require the assistance of a professional business broker.
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