Despite your best intentions, great business sales don't happen overnight.
(article continues below)
However, serious buyers also understand the value of a good Catholic church. So for Catholic church sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
What About Market Conditions?
Today's Catholic church sellers face an intimidating economic landscape. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of catholic churches will flood the market and drive prices down even further. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a Catholic church. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Selling a Catholic Church to an Employee
Employee sales have pros and cons. 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. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your Catholic church, a sale to an employee is probably not a possibility.
Given your interest in exit planning and in catholic churches, you might find these additional resources to be of interest.
If you plan on opening a Catholic church, these helpul resources may be just what you've been looking for:
If you consider catholic churches to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are eager to get business succession tips for a different industry, please browse our alphabetical list exit planning guides below.