Business Exit Planning
Selling a Minor Medical Emergency Services Business
You've learned a lot during your tenure as a minor medical emergency services business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
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 minor medical emergency services business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your 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.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your minor medical emergency services business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Are You the Right Person to Sell Your Business?
There are benefits and drawbacks to handling the sale of your minor medical emergency services business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your minor medical emergency services business in the business-for-sale marketplace. But your knowledge and personal insights about the minor medical emergency services business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the minor medical emergency services business to gain an objective sense of fair market value.
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