Profitable Niche Market Exit Plans
Selling an Ostomy Equipment and Supplies Business
A lot can go wrong during the sale of an ostomy equipment and supplies business in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
They require careful planning and an intentional strategy that emphasizes your ostomy equipment and supplies business's strengths and meets the needs of the marketplace. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Hoping for a quick ostomy equipment and supplies business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. 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.
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your ostomy equipment and supplies business. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Leveraging Industry Connections
These days, ostomy equipment and supplies business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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