- February 20, 2024
- Selling Your Business
- by Rich-Biz Brokers, LLC
We have a buyer client who owns an outpatient mental health counseling company and is seeking to purchase an existing outpatient mental health counseling company or a company that provides similar and/or complementary health services. Please let us know if you can connect us with such companies. Thanks, in advance, for your help.
Most business owners want to ultimately benefit from their hard work, their sweat and tears, when growing a business. In order to create value for a peak sale at some point, we recommend you discuss with your business clients the following actions:
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Work with your bookkeeper, CPA, or accountant to help you with business strategies and tax planning, not just doing your taxes. Be certain that your financial and all other records are up-to-date and accurate. Savvy buyers will be turned off by having to ask a lot of questions about records because they don’t understand what they are reviewing.
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Strive to increase annual profitability. Because of economic conditions beyond the owner’s control, this action is not always achievable. However, effective planning and financial management can often create profitable conditions.
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Establish written policies, procedures, and systems that direct company goals, expectations and operations. Savvy buyers will want to know that a team is at work so that the company operates on its own, regardless of circumstances.
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Plan and prepare for “curb appeal.” Be certain that the internal atmosphere of your facility is attracting, neat, and personable. Pleasantry in greetings and operations goes a long way to creating relationships. Also, be certain that the external environment of your facility is neat and attractive. If a buyer’s initial reaction to your facility is that it’s unkempt, he’ll also wonder about your books and records, personnel, operations, and all aspects of the business. Strive to make a good impression!
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Train personnel to know their jobs and, if appropriate, cross-train to know other jobs in the business. A savvy buyer will want to know that the employees know what they’re supposed to do, do it, and work as a team.
