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Selling a Covenant Church
Market perceptions play a role in your ability to sell a Covenant church. Yet great values are always received well in the business-for-sale marketplace. All it takes is a strategy to identify solid prospects and convert them to buyers.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
There are many factors involved with the decision to sell a business. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a Covenant church sale. To improve sale outcomes, you will simply need to tailor your Covenant church to today's buyers.
Preparing for What's Next
So you've decided to sell your Covenant 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. 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 Covenant church attractive to buyers.
Brokerage Benefits
Brokers give Covenant church sellers distinct advantages in the marketplace. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your Covenant church. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young Covenant church owner, they can be critical launching points for their ownership journey.
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