Business Exit Planning
Selling a Mosques Business
Economic uncertainty influences the timing of many mosque sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your mosque on the market.
You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
More than a few mosque owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Dealing with Tire Kickers
Many prospective buyers will have a strong desire to acquire your mosque. The bad news is that they will lack the financial capacity to close the deal. 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 mosque until the prospect has been qualified as a serious buyer.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your mosque. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokers routinely work with mosque owners to achieve desired outcomes and deliver a successful sale as quickly as possible. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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