Niche Market Exit Planning Tips
Selling a Biblical Counseling Business
Looking for shortcuts? You won't find them when you sell a biblical counseling business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a biblical counseling business.
Too often biblical counseling business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a biblical counseling business. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their biblical counseling businesses.
Team-Based Negotiation Strategies
Even if you hire a business broker to facilitate the sale of your biblical counseling business, it's likely that you will be the front line negotiator. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your biblical counseling business.
Preparing for What's Next
The decision to sell your biblical counseling business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
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