Selling an Ear, Nose, and Throat Physicians and Surgeons Practice
A good business is about more than dollars and sense. To make your ear, nose, and throat practice what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
You won't find any magic formulas for selling an ear, nose, and throat practice, especially while the market is struggling to overcome the perceptions created by a down economy.
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But at Gaebler, we see ear, nose, and throat practices still selling at a brisk pace. 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.
Leveraging Industry Connections
There are a lot of different places to look for ear, nose, and throat practice buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Laying the Groundwork
Effective ear, nose, and throat practice preparation focuses on communicating value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. 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 ear, nose, and throat practice on the market.
It's critical to negotiate from a position of strength. More often than not, the person with the most knowledge will come out on top in an ear, nose, and throat practice negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
More Info on Business Transitions and Related Articles
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