Sell a Business for the Best Price
Selling a Presbyterian Churches Business
Don't believe anyone who tells you it's easy to sell a Presbyterian church. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the Presbyterian church market and locate potential buyers ASAP.
Advantages of Hiring a Broker
Brokers give Presbyterian church sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Preparing for What's Next
The decision to sell your Presbyterian church can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based Presbyterian church sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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