Business Exits By Industry
Selling a Charitable and Nonprofit Organizations Business
No one said selling your business in a depressed economy would be easy. But selling your charitable and nonprofit organizations business doesn't have to be as daunting as it sounds.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a charitable and nonprofit organizations business, capital restrictions are holding them back.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your charitable and nonprofit organizations business.
Sweetening the Deal
Today's charitable and nonprofit organizations business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. A limited amount of training and mentoring may seem inconsequential to you, but to a young charitable and nonprofit organizations business owner, they can be critical launching points for their ownership journey.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a charitable and nonprofit organizations business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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