Mastering Niche Market Exit Planning
Selling a Non-Sectarian Churches Business
You've learned a lot during your tenure as a non-sectarian church owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a non-sectarian church sale works.
Too often non-sectarian church owners sell for a price that is well below market value. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Average Timeframes
Hoping for a quick non-sectarian church sale? You may be disappointed. 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. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Working with Appraisers
An experienced appraiser is part and parcel of a successful non-sectarian church sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a non-sectarian church sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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