Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your environmental medicine practice now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
How Much Does It Cost to Sell an environmental medicine practice?
In an environmental medicine practice sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Today's environmental medicine practice buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. If you aren't familiar with typical environmental medicine practice concessions, consult with a professional to learn how you can build incentives into your deal.
Given your interest in exit planning and in environmental medicine practices, you might find these additional resources to be of interest.
If starting an environmental medicine practice is on your agenda, these helpul resources may be just what you've been looking for:
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