The economy isn't the only thing that is uncertain these days. So are Calvary Chapel church buyers, many of whom are waiting to pull the trigger on their next acquisition.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to Calvary Chapel churches that exhibit strong financials and potential for future growth.
Signs You're in Over Your Head
Many Calvary Chapel church are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Preparing for What's Next
So you've decided to sell your Calvary Chapel church. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Selling a Calvary Chapel Church to an Employee
Although it may seem easier to sell your Calvary Chapel church to an employee, this approach also has some pitfalls. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based Calvary Chapel 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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