The process of selling an elder care business can be one of the most stressful experiences of your entrepreneurial career.
(article continues below)
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to elder care businesses that exhibit strong financials and potential for future growth.
When you made the decision to sell your elder care business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your elder care business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Finding Elder Care Business Buyers
It's difficult to predict where the buyer of your elder care business 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. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Hoping for a quick elder care business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Given your interest in exit planning and in elder care businesses, you might find these additional resources to be of interest.
If you plan on opening an elder care business, these helpul resources may be just what you've been looking for:
If you consider elder care businesses to be sales prospects, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.