Exit Planning Advice By Market

Selling an Adventist Church

Think Adventist church sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.

You won't find any magic formulas for selling an Adventist church, especially while the market is struggling to overcome the perceptions created by a down economy.

At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your Adventist church on the market.

Working with Accountants

Accountants lay the financial groundwork for a business sale. Before your Adventist church goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.

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 Adventist 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. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for Adventist churches than other buyers.

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