Sell a Business for the Best Price
Selling a Protestant Churches Business
No one said selling your business in a depressed economy would be easy. Fortunately, a Protestant church sale isn't as scary as it seems.
When the economy recovers, we expect to see a sudden influx of Protestant churches in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
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 Protestant church market and locate potential buyers ASAP.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. 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. 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.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Factoring In Economic Variables
Think a Protestant church sale is simple? Think again. Interest rates, spending, inflation, and other variables directly influence how long your Protestant church will be on the market as well as its sales price. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a Protestant church. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. When it comes to selling a Protestant church, successful sales sales often boil down to the business itself - not the economy.
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