Sell a Business Tips
Selling a Sports Medicine Chiropractors Business
You've heard the naysayers - now isn't the time to sell a sports medicine chiropractors business. But what they don't know is that many entrepreneurs see sports medicine chiropractors businesses as a smart business investment.
When the economy recovers, we expect to see a sudden influx of sports medicine chiropractors businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
In today's market, there is still plenty of room for sports medicine chiropractors businesses that demonstrate solid earning capacity and a robust market position.
Objectivity is a rare commodity in a business sale. You have invested yourself in making your sports medicine chiropractors business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
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