Mastering Niche Market Exit Planning
Selling a Nephrology Physicians and Surgeons Practice
Is the economy still a little shaky for a business sale? Sure it is. Yet nephrology physicians and surgeons practices haven't heard the news and are reporting steady action on the business-for-sale market.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your nephrology physicians and surgeons practice sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your nephrology physicians and surgeons practice are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. Before your nephrology physicians and surgeons practice goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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