Business Exit Planning
Selling a Missionary Churches Business
Selling a Missionary church doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Market timing is a constantly moving target. So if you're waiting for the perfect market conditions to sell your Missionary church, you could be waiting a while. If your business is ready to be sold, the time to sell is now. The key is to go into the sale with your eyes open and with complete awareness of market condition.
It's rarely possible to sell a Missionary church in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a Missionary church for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Pros & Cons of a Sale to an Employee
Although it may seem easier to sell your Missionary church to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. 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 Missionary church sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
The Best Person to Sell Your Missionary Church
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your Missionary church in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the Missionary church to gain an objective sense of fair market value.
Share this article
Additional Resources for Entrepreneurs