| Few people enter into business with any
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| | acquisitions. This is the sole business
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| thought of how they will exit the
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| | of Fleetridge Pacific and we know the
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| business and realize returns in their
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| | market of potential buyers and sellers.
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| investment of time, money & resources.
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| | 3) Determining your Exit Strategy-
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| Most entrepreneurs are too busy getting
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| | Determining your exit strategy will help
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| their business to a point that it becomes
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| | you and your broker identify what types
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| a profitable smooth running operation. A
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| | of buyers will be interested in your
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| few years down the road, there comes a
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| | company. What are you hoping to achieve
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| point when the founder may want to find a
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| | when you sell your company? Do you want
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| way to exit the business he developed.
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| | to continue to work with the buyer after
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| Some tire of the every day grind of
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| | the transaction is closed or are you
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| running a homecare agency, some just want
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| | looking to retire shortly after the sale
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| to diversify their assets and "take money
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| | closes? This will also help you, the
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| of the table" and some just simply want
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| | broker and your other advisors, structure
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| to retire and do not have family or
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| | the deal as well as the transition to the
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| partners that are capable or willing to
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| | buyer once the sale closes.
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| continue growing the company that they
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| | 4) Enhancing Your Company's Value- If
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| have started. If you consider selling
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| | after a financial assessment you are not
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| your business, there are things that
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| | satisfied with the valuation of your
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| should be done, well in advance, in order
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| | company or looking for ways to enhance
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| to maximize what you can get out of the
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| | value, identify how to enhance the value
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| business.
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| | of your company through marketing
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| 1) What is your Business Worth?- The
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| | programs, increasing operational
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| first step in deciding whether or not to
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| | efficiencies and exhibiting good fiscal &
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| sell your business is to get a clear
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| | regulatory controls. You and your broker
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| understanding of what your company is
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| | can identify specific actions on how to
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| worth. It may make sense to engage the
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| | enhance current and future values for
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| services of a homecare industry expert to
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| | your company.
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| garner an honest assessment of company's
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| | 5) Understanding the Acquisition Process-
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| worth. This should be done well in
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| | Buying and selling businesses take
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| advance of selling, and repeated
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| | tremendous amounts of work and can be
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| periodically over the years, to give you
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| | quite stressful. Sellers should know
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| an idea of what companies similar to
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| | before they start what the process
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| yours are selling for. Not knowing what
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| | involves and approximate timelines in
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| your company is worth may result in you
| |
| | which to get a deal done. They should
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| either getting less than the business is
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| | also understand the roles of
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| worth or not selling your business
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| | intermediaries and other consultants,
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| because your expectations are
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| | such as accountants and lawyers, as they
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| unrealistically high.
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| | are an integral part of the acquisition
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| 2) Identify an Intermediary/Broker -
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| | divestiture process. Not understanding
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| There are many intermediaries that you
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| | the process can cause problems and
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| can use to sell your business.
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| | frustration and ultimately lead to a very
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| Oftentimes, entrepreneurs first ask
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| | long or unsuccessful effort to sell your
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| outside accountants or lawyers to help
| |
| | business.
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| them. Some try and do it themselves,
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| | 6) Knowing the Right Time to Sell your
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| while some engage investment banks or
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| | Business- People don't get into the
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| experienced intermediaries. Most brokers
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| | homecare business with the intention of
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| and intermediaries work on some sort of
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| | selling but at some point, people do make
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| incentive based scheme and consequently
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| | the decision to sell. Market prices tend
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| may try and get the contract by giving
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| | to go up and down, even within the
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| the potential seller a very high
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| | different sectors of the homecare
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| valuation for their business. It does not
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| | industry, be it skilled certified
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| do you any good to hire a business broker
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| | agencies, private duty/homemaker
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| who gives you a good valuation for your
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| | services, DME and IV infusion. Knowing
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| business and is ultimately unable to sell
| |
| | when to exit from our business can make a
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| it. A good broker will give you an honest
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| | tremendous difference in the sale's
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| assessment of what your business is worth
| |
| | proceeds. There is some truth in the
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| and start finding potential buyers for
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| | adage that you will get the best
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| your business soon after they have
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| | valuations when you don't necessarily
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| started marketing your company. Find an
| |
| | need to sell and the worst valuations if
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| intermediary that knows your business and
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| | you need to sell desperately. Knowing
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| has experience in healthcare mergers and
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| | when to sell can make all the difference.
|
