Business Exits By Industry
Selling a Christian Ministries Business
Think Christian ministries business 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.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
The economy hasn't squashed the market for Christian ministries businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Preparing for What's Next
The decision to sell your Christian ministries business can't be made without adequate consideration of what will happen after the sale. 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.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your Christian ministries business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your Christian ministries business in the business-for-sale marketplace. But your knowledge and personal insights about the Christian ministries business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the Christian ministries business to gain an objective sense of fair market value.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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