Niche Exit Planning Strategies
Selling a Deaf Church
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet deaf churches continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Personal and professional concerns surround the sale of a deaf church. In our experience, a common owner concern is how the sale will affect customers and employees.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to deaf churches that exhibit strong financials and potential for future growth.
Factoring In Economic Variables
When you sell a deaf church, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your deaf church will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. In our experience, the most important factors in the sale of a deaf church have little to do with the economy.
Sweetening the Deal
Today's deaf church buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. If you aren't familiar with typical deaf church concessions, consult with a professional to learn how you can build incentives into your deal.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your deaf church 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. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
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