Selling your business is an important and very personal decision. But while some owners feel inclined to keep their reasons for selling a medical transportation business close to their vest, honesty is always the best policy. A buyer has a right and a desire to know the real motivation behind your decision to sell, because it can affect the outcome of his or her investment. As a seller, you should be motivated to be truthful because doing so can help reinforce the interest of prospective buyers.
No matter how your business is performing, it has value to the right buyer. But, to catch the interest of that buyer, you’ve got to tell the truth.
When Business Is Good
When investors come across a profitable ambulance business for sale, their first instinct is often suspicion: If the company is doing so well, why is the owner selling? You can’t blame a buyer for watching his back. This is why it’s especially vital for the owner to be upfront.
There are many reasons for selling a solidly performing ambulance business. Maybe you’re going through a difficult time with a divorce or partner dispute. Perhaps you’d like to retire and your children aren’t interested in taking over the family business. Maybe you’re simply ready to move on to new horizons.
There is no shame in admitting that you no longer have the time, energy, or financial resources to grow your business. Getting out while you’re ahead is the smart thing to do. Whatever your reasons for making a change, a qualified buyer will keep your sensitive information private.
When Business Isn’t So Good
Has the faltering economy or your own strategic misfires hurt your bottom line? There’s an incentive for owners to hide the fact that their company is underperforming, but that’s a dangerous move that can cost you a beneficial deal and even result in legal action. At best, keeping your troubles under wraps can mean missing out on an opportunity to attract a strategic buyer who may be looking for a fair-priced company to turn around.
You may not have the resources to sink into improvements for your non emergency transportation business, but investors might. At worst, if you withhold important information in an effort to distort your company’s performance, it is possible that a buyer could later sue you for damages.
What is the cardinal rule of listing an ambulance company for sale? Tell the truth! Buyers know when you are being dishonest. From providing a medical transportation business valuation to disclosing the details behind your decision to sell, sincerity is your best strategy. An experienced ambulance business broker can ensure the information disclosed to buyers is accurate, confidential, and honest.