Mastering Niche Market Exit Planning
Selling a Nursing Homes Management Business
Looking for shortcuts? You won't find them when you sell a nursing homes management business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a nursing homes management business sale works.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a nursing homes management business sale. To improve sale outcomes, you will simply need to tailor your nursing homes management business to today's buyers.
Broker vs. No Broker
Anyone who has ever sold a nursing homes management business has eventually needed to decide whether to use a business broker or go it alone. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a nursing homes management business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. Professional business brokers understand buyers and know how to properly communicate a nursing homes management business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium nursing homes management business opportunity.
Selling a Nursing Homes Management Business to an Employee
Employee sales have pros and cons. A key employee may seem like a natural sales prospect. 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. Seller financing is one way to get around the capital deficit of an employee-based nursing homes management business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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