Niche Market Exit Planning Tips
Selling a Brethren Church
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a Brethren church sale isn't as scary as it seems.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
The economy hasn't squashed the market for Brethren churches. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for Brethren church sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of Brethren churches waiting to be listed until the economy rebounds. When that happens, the buyers' market will become even stronger and have a negative impact on prices. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your Brethren church as attractive as possible so to buyers right now.
Why Confidentiality Matters
Confidentiality determines risk in the business-for-sale marketplace. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful Brethren church sales. Take our word for it -- Brethren churches are unique businesses and you need a broker who understands how to properly market your Brethren church to prospective buyers. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Share this article
Additional Resources for Entrepreneurs