Selling a Company Advice
Selling an Urology Practice
You've heard the naysayers - now isn't the time to sell a urology practice. But what they don't know is that many entrepreneurs see urology practices as a smart business investment.
With planning and patience, most urology practices can be sold for a fair price in the current business-for-sale marketplace.
There are still plenty of urology practice buyers looking for opportunities that present well in the marketplace.
Preparing Your Urology Practice for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable urology practice sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your urology practice, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your urology practice. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. If you are rigorous about maintaining a confidential sale, there is little risk in putting your urology practice on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable urology practice can be reduced to one that is struggling to survive. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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