Profitable Niche Market Exit Plans
Selling an Open Bible Churches Business
We hear from a lot of business owners who are timid about listing their Open Bible church. Despite the mood of the market, we think there are still opportunities to receive a good price for your Open Bible church. Here's what you need to know . . .
Selling a Open Bible church? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
But at Gaebler, we see Open Bible churches still selling at a brisk pace. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Advantages of Hiring a Broker
Brokers give Open Bible church sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your Open Bible church during their initial inquires. Avoid releasing details about your Open Bible church until you have established that they have the financial capacity to make a legitimate offer.
Preparing for What's Next
So you've decided to sell your Open Bible church. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your Open Bible church. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your Open Bible church attractive to buyers.
Share this article
Additional Resources for Entrepreneurs