Exit Planning Tips
Selling a Hispanic Church
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet Hispanic churches continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a Hispanic church.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your Hispanic church. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Negotiation Teams
It's not unusual for Hispanic church sellers to feel overwhelmed when they negotiate the sale of their business. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Maintaining Objectivity
Emotions run high during the sale of a Hispanic church. You have invested yourself in making your Hispanic church the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful Hispanic church sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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