Optimizing Business Exits
Selling a Rehabilitation Service
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But rehabilitation services haven't heard the news and are reporting steady action on the business-for-sale market.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a rehabilitation service.
If your exit strategy involves selling a rehabilitation service now, you need to apply the right combination of preparation, strategy and common sense.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a rehabilitation service. Although it's wise to recruit a business broker, brokerage isn't your only concern. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Finding Rehabilitation Service Buyers
It's difficult to predict where the buyer of your rehabilitation service will come from. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Networking is another useful tool in locating buyers. It might surprise you to learn how many rehabilitation service buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Preparing Family Members
Many sellers embarked on their rehabilitation service sale without adequately considering the impact it will have on their families. Whether you realize it or not, your rehabilitation service has been an important part of your family life. The sale of the business will likely result in new family dynamics. Subsequently, selling a rehabilitation service has to include ample communication and shared decision-making.
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