Business Exits By Industry
Selling a Church Furnishings Business
A good business is about more than dollars and sense. To make your church furnishings business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
In any economy, there is a right way and a wrong way to sell a business.
If you're looking for a reason to wait to put your business on the market, you'll find it. Selling a church furnishings business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your church furnishings business's real assets. But you'll need to commission your own appraisal before you put your church furnishings business on the market to arm yourself with information for the negotiation phase. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your church furnishings business.
Average Preparation Time
It's critical to properly plan for the sale ofa church furnishings business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your church furnishings business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Are You the Right Person to Sell Your Business?
There are benefits and drawbacks to handling the sale of your church furnishings business on your own. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
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