There are a number of keys to selling a medical practice, and increasingly doctors are joining larger health systems rather than trying to run a practice on their own. The same is true for urgent care practices, a part of the ambulatory health care system. Urgent care practices usually act as stand-alone walk-in clinics where […]
Look For The Helpers
“When I was a boy and I would see scary things in the news, my mother would say to me, ‘Look for the helpers. You will always find people who are helping.’” – Mr. Rogers We’re all in this together! So, we wanted to put together some information for you to have on hand whether […]
Checklist for Valuation
Checklist for Valuation Start with the business Value Drivers: Size, growth rate, management, niche, history Value Detractors: Customer concentration Poor financials Outdated M&E Few assets Lack of agreements with employees, customers, suppliers Poor exit possibilities Small market Potential technology changes Product or service very price sensitive Financial analysis: Market Value – comparables Multiple of Earnings […]
Determining Your Business’s Market Value
Determining Your Business’s Market Value You’re ready to sell your business and use the proceeds to help finance your retirement or your next venture. There are a number of ways to determine the market value of your business. Tally the value of assets. Add up the value of everything the business owns, including all equipment and inventory. Subtract […]
What is a Business Worth?
What Is a Business Worth? Many courts and the Internal Revenue Service have defined fair market value as: “The amount at which property would exchange between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having a reasonable knowledge of relevant facts.” You may have to […]
Creating Value With Privately Held Companies
Creating Value in Privately Held Companies “As shocking as it may sound, I believe that most owners of middle market private companies do not really know the value of their company and what it takes to create greater value in their company … Oh sure, the owner tracks sales and earnings on a regular basis, […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: DEALING WITH THE EMOTIONAL FALLOUT
Dealing with the Emotional Fallout of Selling Your Business “Congrats on selling your business,” a longtime mentor said the day after I signed the paperwork. “Now get ready for a depression.” That was seven years ago. At the time, I was confused by this remark. I had just made what felt like a pile of […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: PLAN FOR YOUR FAMILY’S FUTURE
Plan for Your Family’s Future Now that you have made some money from the sale of the business, you should scrutinize any plans you have made for your family’s future and for your estate. Although you may have already taken care of some of the following items, you will want to revisit these eight: Make […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: MINIMIZE YOUR TAXES
Minimize Your Taxes on the Sale One of the major considerations connected with the sale of your business concerns minimizing taxes that result from the disposition. Here are 10 ways to do this: Structure the Transaction Beneficially If you are getting stock instead of cash from the sale of the company, you should be able […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: PROTECT YOUR PROCEEDS
Protect Your Proceeds The most important step you should take after successfully selling your business is to protect the proceeds. Here are three ways to do that: Diversify Your Holdings If you received cash from the sale, immediately consider a diversification plan for the proceeds. Think about a combination of mutual funds, municipal bonds, money […]
ARE YOU THINKING ABOUT SELLING YOUR BUSINESS?
Are you thinking about selling your business? Whatever reason you have for selling your business — finances, family, fatigue — you’ll want to assemble the right group of professionals to assist you through the sale process, know which essential documents to have on hand, and understand how to value your business assets to ensure a successful […]
Dealing with Inexperience Can Ruin the Deal
The 65-year old owner of a multi-location retail operation doing $30 million in annual sales decided to retire. He interviewed a highly recommended intermediary and was impressed. However, he had a nephew who had just received his MBA and who told his uncle that he could handle the sale and save him some money. He […]
The Variety of Variables Involved in Selling Your Business
Selling a business is more than a big decision, as it is also quite complex. Finding the right buyer for a business is at the heart of the matter. In the recent Forbes article, “Ready to Sell Your Business? Follow These 3 Tips to Find the Best Buyer,” author Serenity Gibbons outlines that selling a […]
Business Owners Can’t Always Sell When They Wish
A recent and insightful Forbes article, “Study Shows Why Many Business Owners Can’t Sell When They Want To” penned by Mary Ellen Biery, generates some thought-provoking ideas. The article discusses an Exit Planning Institute (EPI) study that outlined the reality that many business owners can’t control when they are able to sell. Many business owners […]
The Hidden Benefits of Planning Your Succession Strategy
Succession planning is something that many business owners fail to think about; however, it turns out there are benefits to succession planning that might not be immediately obvious upon first glance. In this article, we’ll explore a recent Accountancy Daily article, “Succession Planning for Business Owners,” which details the wisdom and benefits of succession planning. […]