The due diligence is done, and you and the buyer are satisfied with the deal. You’re getting ready to schedule a closing date where you and the buyer, along with your APS Consultant and other professionals, will dot the I's and cross the T’s. So what should you expect before crossing the finish line?
IMAGINE THAT YOU OWN A practice with, say, $500,000 in annual revenues. You started it 30 years ago; you persevered through lean times, built a loyal staff and a satisfied customer base. Your hard work and risk taking has paid off and you’re now turning a decent profit.
Growing business value should be the ultimate goal of every business owner. Actively engaging in ongoing, focused efforts to grow value is the only true way to ensure the well-being of the company, the customers, the employees and the owner’s Life Beyond Business.
Where the real selling price of your Practice is decreased if the buyer does not achieve the guaranteed level of sales retention. We work very diligently to structure a selling price that will not be affected by the retention of sales that the Buyer may experience, because we believe that client retention for a new Buyer should be very close to that of the departing owner.
Do you have plans for your time post sale? What proceeds from the sale will be needed to meet your retirement goals? If you are planning to retire, it’s recommended that you seek counsel from a qualified Retirement Specialist that can help you determine if you have an income stream to meet your needs.
If an average amount of care and business sense is used, client retention after the sale is almost always a non-issue. After having facilitated the successful transition of over 100 practices in my 25 years, I have come to expect that nearly all of the clients will stay with the new owner.