Mastering Niche Market Exit Planning
Selling a Neurology Veterinarians Practice
There's a right way and a wrong way to sell a neurology veterinarians practice in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
With planning and patience, most neurology veterinarians practices can be sold for a fair price in the current business-for-sale marketplace.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your neurology veterinarians practice.
Negotiation 101
There's no room for error when you negotiate the sale ofa neurology veterinarians practice. In a neurology veterinarians practice sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. But great negotiation begins with knowing yourself. What is the realistic price range for your neurology veterinarians practice? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Second, a good business broker is a master at confidentiality locating neurology veterinarians practice sale prospects and guiding sellers through negotiations. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
What to Expect in a Neurology Veterinarians Practice Sale
The sale of a neurology veterinarians practice can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Share this article
Additional Resources for Entrepreneurs