Starting a business is exciting. Running a business is rewarding. But what about exiting a business? While business owners have a deep knowledge of their business and often reap huge rewards, both on a personal and financial level, most owners do not know what to do when they are ready to retire and/or sell the business. Even more, they do not know what their business is worth. To give you an idea of where to start, let's take a look at one of the most valuable tools at your disposal - your company’s EBITDA.
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In speaking to countless business owners, we know that making the decision to sell your business is difficult. In large part, fear of the unknown can create analysis paralysis and, ultimately, lead to inaction. Yes, there is much that goes into selling a physical therapy practice, but with proper planning, and the right team, most of the heavy lifting will be done for you. With that in mind, consider these two main steps now to get the ball rolling: 1) value your business and, 2) identify qualified buyers that will help you realize that value.