Business Exit Planning
Selling a Mammography Clinics Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the mammography clinics business marketplace has been a shaky environment for sellers. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a mammography clinics business during challenging economic times.
Like it or not, a mammography clinics business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your mammography clinics business a success.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a mammography clinics business.
Selling a Mammography Clinics Business to an Employee
Although it may seem easier to sell your mammography clinics business to an employee, this approach also has some pitfalls. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based mammography clinics business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Current Market Conditions
Today's mammography clinics business sellers face an intimidating economic landscape. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. 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. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a mammography clinics business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a mammography clinics business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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