Optimizing Business Exits
Selling a Religious Practitioners Business
Most businesses are susceptible to economic conditions and religious practitioners businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
In a down economy, many religious practitioners business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of religious practitioners businesses that are actually for sale.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a religious practitioners business.
Preparing Family Members
Many sellers embarked on their religious practitioners business sale without adequately considering the impact it will have on their families. Whether you realize it or not, your religious practitioners business has been an important part of your family life. The sale of the business will likely result in new family dynamics. Subsequently, selling a religious practitioners business has to include ample communication and shared decision-making.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the religious practitioners business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling religious practitioners businesses.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Share this article
Additional Resources for Entrepreneurs