Business Exit Planning
Selling a Medical Imaging Business
No one said selling your business in a depressed economy would be easy. But selling your medical imaging business doesn't have to be as daunting as it sounds.
You need to get a good price for your medical imaging business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
To start a successful medical imaging business, you need to be familiar with both medical imaging technology and medical billing procedures.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the medical imaging business market and locate potential buyers ASAP.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. 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. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your medical imaging business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Timing the Market
Timing is everything when it comes to selling a medical imaging business. With interest rates at all-time lows, it's easy to see why medical imaging businesses are an appealing investment opportunity for savvy investors. Sooner or later, rates will rise, increasing the risk for prospective buyers of medical imaging businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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