Should You Buy or Sell a Medical Business?

You have heard it all, “medical businesses are recession proof, the population is aging and the demand for medical care and products will increase exponentially, medical businesses almost never go bankrupt.” But does this mean you should buy or sell? Let’s look into this a little deeper.

First, there are many different types of medical businesses. Here are but a few categories that are available for sale today throughout Florida and for sale in Sarasota, Florida. ;

Adult Day CareBehavioral AnalysisElder Care
Half Way/Recovery HouseHead Lice Removal ServiceHealth Information Management
HMOLaser ClinicMastectomy Products
Medical – HypnosisMedical Asst LivingMedical Billing Service
Medical Case ManagementMedical ChiropracticMedical Clinic
Medical Discount OrganizationMedical Equip LeaseMedical Equipment
Medical FurnitureMedical Hearing AidsMedical Home Care
Medical LaboratoryMedical LicensingMedical Marijuana
Medical MD PracticeMedical Nursing HomeMedical Pharmacy
Medical SoftwareMedical SpaMedical Speech Therapy
Medical StaffingMedical SuppliesMedical Testing
Medical TranscribingMedical Uniform SalesMedical Weight Loss
Medical-MRIMental Health ServiceNon-Med Home Care
Nurse RegistryOccupational TherapyOrthotic/Pedorthic Care
Physical TherapyPodiatry CarePsychotherapy
Retirement HomeSpecialty HospitalSubstance Abuse
Unborn ImagingWholesale Pharmacy

There are large differences in valuation for medical supply businesses versus retirement home businesses for sale. But let start at the beginning;

Ask yourself these questions; where does your medical passions and experience lie? Do you like meeting with and helping people short term (podiatry business) or long term (retirement home)? Like working with seniors or special needs people (assisted living home)? Enjoy retail and explaining products that may help them (hearing aid store)? Enjoy cold calling (medical device distributor)? 

Second, work with a BBF (Business Broker of Florida) agent to have lists of businesses meeting your criteria sent to you every week. Once you see one that meets your criteria and finances (sellers require proof of funds), ask your broker to get you more information.

Given that you have continued interest, a meeting will be scheduled. Perform a Google@ search for questions to ask a business seller. Work with your broker to assess these and more. Some questions such as deep financials will not be disclosed until offers are accepted. Don’t hold anything back! The seller expects this and you can learn a lot by asking tough questions. At the meeting, get a feel for the business and visualize your working there and leading the charge. Is this the right fit? Don’t worry if it is not, you learn from everyone. 

Steve Van Leeuwen have been in the medical business for fifteen years and have seen and experienced a lot. I am biased in that I love medical businesses for sale! I am more than happy to help you decide what line is best for you to achieve your goals and dreams.

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