Business Exit Planning
Selling a Medical Laboratories Business
Don't believe anyone who tells you it's easy to sell a medical laboratories 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.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a medical laboratories business.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a medical laboratories business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Emotions run high during the sale of a medical laboratories business. You have invested yourself in making your medical laboratories business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Selling a Medical Laboratories Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Signs You're in Over Your Head
Many medical laboratories 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. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. If that occurs, it's time to bring in the professionals to get your sale back on track.
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