Selling a Company Advice
Selling a United Methodist Church
Most businesses are susceptible to economic conditions and United Methodist churches 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.
Personal and professional concerns surround the sale of a United Methodist church. But have you considered how your customers, vendors and employees will handle the sale?
If you're ready to move on, now is the right time to sell your United Methodist church.
After the Sale
Due diligence has ended and you're ready to close on the sale of your United Methodist church. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Average Timeframes
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their United Methodist church. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your United Methodist church, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive United Methodist church can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Selling a United Methodist Church to an Employee
Although it may seem easier to sell your United Methodist church to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. 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 United Methodist 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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