When it is time to sell your dental clinic, there are a couple of things you have to do. For one, you want to make sure you sell for maximum profit. To achieve this, one of the key things you must do is enlist the help of a business broker for dentists San Diego. The broker’s full-time job is to sell businesses like yours. He will help navigate the process and guarantee you sell for maximum profit. All in all, even with the input of an experienced broker, it is good to understand the process involved in the sale of a business.
Deciding to sell
The first step is the most obvious. You have to decide to sell your business. This is not a decision you should ever make lightly. Keep in mind that your business broker for dentists San Diego will want to know your reason for selling in order to determine if you are serious about selling. You also have to come to terms with the fact that although there are benefits, selling a business takes time and is emotionally involving. If you are not 100% sure that you want to sell, your business broker in San Diego may refuse to work with you. This is because they are paid once the sale closes. If you pull out of the deal midway, they will not earn their commission.
Get a valuation
Once you are certain selling is the right move, the next step is to know how much your business is really worth. This requires a business valuation. Leave the valuation to the experts. Your business broker will be happy to perform a valuation and do market research to determine how much your business is really worth. It is only with the valuation report that you will be able to set a fair selling price.
Develop a prospectus
The next step is to develop a list of all the facts and figures about your business. This is the time you should gather all relevant financial documents and ensure your business is in the best shape. Following a business valuation, your business broker may give recommendations on how to make your business more valuable to prospective buyers.
Find and qualify buyers
Finding the right buyers is the next step. Your business broker for dentists in San Diego will handle this part for you. Keep in mind that not every buyer is interested in buying your business. Some simply want to snoop around. Others lack the money to acquire your business. That is why it is very important that all potential buyers be screened before any information is disclosed to them.
The closing step comes after achieving a favorable understanding with buyers during negotiations. Assets and money will be transferred and the new owner will take over.