Sell a Business for the Best Price
Selling a Psychologists Business
No one said selling your business in a depressed economy would be easy. Fortunately, a psychologists business sale isn't as scary as it seems.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
You'll always have an excuse for not putting your business on the market. Selling a psychologists business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Setting the Stage
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. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your psychologists business on the market.
Family Business Sale Tips
There is no easy way to sell a psychologists business, not even to a family member. In fact, selling your psychologists business to a family member can quickly become a no-win proposition. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a psychologists business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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