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Buying A Veterinary Practice

What Services Do You Get When Using a Practice Broker?

Jul 18, 2017 11:28:11 AM

shutterstock_633566522.jpgThere are a number of reason you may choose to enlist sales broker services when it comes time to step away from your veterinary practice. A sales broker provides many different services as you prepare to sell and go through the negotiation process. Here's a look at some of the services you'll receive when you hire a broker to manage the sale of your practice:

  1. Strategizing - Your sales broker will help you build a strong strategy around which you can sell your practice. This includes gathering information about you and your practice, as well as your long term goals. During this time your broker will ask you some challenging questions to help you understand all of the possible outcomes of the sales scenario so you can set a clear plan of action, often bringing up ideas that you hadn't considered on your own.
  2. Market Research - Another important part of your sales broker services are the in depth market research reports you'll be provided. Your broker will conduct a thorough review of your immediate market and your business and help you set the price for your business based on current conditions. They may also make recommendations for small improvements you can make that will earn you a positive return. They have access to information that is not readily available to you otherwise.
  3. Locating a Buyer - Your broker will have the tools and resources necessary to properly market and sell your business. They know where to look for a buyer, as well as the best way to attract the best buyer for your needs. They will build a proper presentation to highlight the strengths of your practice and make sure it gets in front of qualified buyers, not just anybody.
  4. Sealing the Deal - When it finally comes time to make the sale, your broker will be by your side, guiding you through the final stages. This includes managing incoming contracts, providing all necessary information during the due diligence period, and keeping up with any lenders who are involved. The broker will check in regularly and make sure that everyone is on track to meet important deadlines and all paperwork is completed on time.

Selling your practice can be stressful, but with the help of sales broker services you can continue focusing on running your business while the broker handles the rest. This gives you the best chance of selling to a great buyer without missing any opportunities or selling yourself short.

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