Business Exit Planning
Selling a Mental Health Agencies Business
Is the economy still a little shaky for a business sale? Sure it is. Yet mental health agencies haven't heard the news and are reporting steady action on the business-for-sale market.
You've invested too much in your mental health agency to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
Opening a mental health agency is a challenge, but it's possible to launch a thriving mental health business in your community.
But they're also savvy enough to know a good deal when they see it. So for mental health agency sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based mental health agency sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Advertising Your Sale
Successful mental health agency sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. There are multiple ways to promote a mental health agency sale, many of which require the assistance of a professional business broker.
The Best Person to Sell Your Mental Health Agency
As the owner, you are both the best and worst person to sell your mental health agency. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your mental health agency in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the mental health agency to gain an objective sense of fair market value.
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