Sell a Business Tips
Selling a Spanish Speaking Churches Business
Over the past few years, the Spanish speaking church market has been exceptionally volatile. Here's what you'll need to know to sell a Spanish speaking church whem market conditions threaten a successful business sale.
With planning and patience, most Spanish speaking churches can be sold for a fair price in the current business-for-sale marketplace.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to Spanish speaking churches that exhibit strong financials and potential for future growth.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your Spanish speaking church. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. You have invested yourself in making your Spanish speaking church the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
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