Sell a Business for the Best Price
Selling a Pentecostal Churches Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet Pentecostal churches continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Many Pentecostal church owners cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your Pentecostal church. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Closing Strategies
Today's Pentecostal church buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young Pentecostal church owner, they can be critical launching points for their ownership journey.
Sale Documents
We run into a lot of Pentecostal church sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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