Profitable Niche Market Exit Plans
Selling an Orthopedic Chairs Business
Don't believe anyone who tells you it's easy to sell an orthopedic chairs business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
There is no simple way to sell a business. But the most prepared orthopedic chairs business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Sweetening the Deal
Today's orthopedic chairs business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young orthopedic chairs business owner, they can be critical launching points for their ownership journey.
Timing the Market
Now may be the best time to sell an orthopedic chairs business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on orthopedic chairs businesses. When the economy recovers there will be more orthopedic chairs business buyers on the market, but higher interest rates could present challenges. At Gaebler, we recognize the value of timing the sale of your orthopedic chairs business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
We run into a lot of orthopedic chairs business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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