Exit Planning Strategies
Selling a Veterinary Laboratory
Think veterinary laboratory sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
The economy hasn't squashed the market for veterinary laboratories. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Equipment and Inventory Concerns
During due diligence, the buyer will undoubtedly conduct his own appraisal of your veterinary laboratory's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your veterinary laboratory.
Advertising Your Sale
Successful veterinary laboratory sales listings are intentionally promoted to the right prospects. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. There are multiple ways to promote a veterinary laboratory sale, many of which require the assistance of a professional business broker.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a veterinary laboratory sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Share this article
Additional Resources for Entrepreneurs