Business Exits By Industry
Selling a Churches Insurance Business
The decision to sell your churches insurance business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
They require careful planning and an intentional strategy that emphasizes your churches insurance business's strengths and meets the needs of the marketplace. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Timing Your churches insurance business Sale
When is it the right time to sell your churches insurance business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling churches insurance business sellers to put their plans on hold until the economy fully rebounds. At Gaebler, we have a much more optimistic view of your chances in the churches insurance business-for-sale market. The inventory of what we consider to be quality churches insurance businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a churches insurance business sale. Before your churches insurance business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. 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.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based churches insurance business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
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