Business Exits By Industry
Selling a Church Support Services Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your church support services business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a church support services business, capital restrictions are holding them back.
Success is a factor of preparation, execution and a keen eye for the market. But for business sellers, the process begins with having the right mental attitude.
Advertising Your Sale
Successful church support services business sales listings are intentionally promoted to the right prospects. But if you think advertising your church support services business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. There are multiple ways to promote a church support services business sale, many of which require the assistance of a professional business broker.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the church support services business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Working with a Professional Accountant
Accountants come into play at several stages of the sale process. 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. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Share this article
Additional Resources for Entrepreneurs