Smart Exit Planning Strategies for Niche Markets
Selling a Greek Churches Business
Market shifts affect business values and the Greek church marketplace has been a shaky environment for sellers. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a Greek church whem market conditions threaten a successful business sale.
You need to get a good price for your Greek church. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Despite the overall mood of the marketplace, Greek churches are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
When the Sale Goes Off-Course
Many Greek church are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your Greek church until the prospect has been qualified as a serious buyer.
Preparing Family Members
Many sellers embarked on their Greek church sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the Greek church. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a Greek church should allow opportunities for all family members to share their feelings and offer input about the sale process.
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