Business Exit Planning
Selling a Methodist Churches Business
It's a misconception that no one is buying Methodist churches these days. Savvy entrepreneurs see Methodist church opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
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 Methodist church.
Despite the overall mood of the marketplace, Methodist churches are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
Leveraging Seller Concessions
It's becoming more difficult to sell a Methodist church without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Second, a good business broker is a master at confidentiality locating Methodist church sale prospects and guiding sellers through negotiations. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Average Timeframes
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their Methodist church. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your Methodist church, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive Methodist church can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
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