Selling a Business Advice
Selling an Interdenominational Churches Business
The sale of an interdenominational church can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
It takes dedication to sell an interdenominational church under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a interdenominational church.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your interdenominational church stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Signs You're in Over Your Head
Many interdenominational church are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. Generally, listed businesses should generate interest within a few months. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your interdenominational church is priced out of the market. If that occurs, it's time to bring in the professionals to get your sale back on track.
When Is the Right Time to Sell?
When is it the right time to sell your interdenominational church? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising interdenominational church sellers to put their plans on hold until the economy fully rebounds. At Gaebler, we have a much more optimistic view of your chances in the interdenominational church-for-sale market. The inventory of what we consider to be quality interdenominational churches is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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