February 26, 2020  
 
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Selling a Veterinarians and Animal Hospitals Information and Referral Services Business

No one said selling your business in a depressed economy would be easy. Fortunately, a veterinarians and animal hospitals information and referral services business sale isn't as scary as it seems.

The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a veterinarians and animal hospitals information and referral services business.
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The economy hasn't squashed the market for veterinarians and animal hospitals information and referral services businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.

Average Preparation Time

Preparing a veterinarians and animal hospitals information and referral services business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey veterinarians and animal hospitals information and referral services business operation. Since all of this takes time and effort, a veterinarians and animal hospitals information and referral services business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.

Preparing Your Employees

As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful veterinarians and animal hospitals information and referral services business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the veterinarians and animal hospitals information and referral services business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.

Advantages of Hiring a Broker

There are many reasons why hiring a broker makes sense in veterinarians and animal hospitals information and referral services business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. 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.

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