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Is it possible to sell my business? |
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Happy New Year to everybody,
We start the year with a new series of short articles concerning business sales. We will use the questions we have been asked, and we are constantly being asked, by our prospective clients as a starting point. The first question, almost always, is:
Is it possible to sell my business?
Yes, the only requirement is that you are prepared to view the process through the eyes of the buyer.
“My Business is too small” or “who would be interested in my business” are the questions that invariably follow.
You can not sell your business if you do not have a business to sell. Business = Goodwill. Buyers look for a business that makes money and can prove it, and/or a business that can give them access to a market that they do not already have. If you just have “stuff” you can not sell the business.
If “you are the business” it may be very difficult, but not impossible, to sell your business. Medical practices can be and frequently are sold, provided of course an adequate transition period is factored into the deal.
Even in a country like Greece, where the notion of buying an existing business has not yet matured, yes, it is possible to sell your business. And your chances can only increase the more appealing your business is to buyers.
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