Profitable Niche Market Exit Plans
Selling an Occupational Health Chiropractors Practice
Business-for-sale markets are susceptible to a variety of influences. As you know, the occupational health chiropractors practice industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an occupational health chiropractors practice during challenging economic times.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
To achieve your goals, you'll need to know the market as well as key business selling techniques. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your occupational health chiropractors practice goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Promoting an occupational health chiropractors practice Sale
Successful occupational health chiropractors practice sales listings are intentionally promoted to the right prospects. But if you think advertising your occupational health chiropractors practice will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing occupational health chiropractors practice sales while maintaining the confidentiality that is critical to your business.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your occupational health chiropractors practice. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
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