Mastering Niche Market Exit Planning
Selling a New Thought Churches Business
Selling a New Thought church doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
You won't find any magic formulas for selling a New Thought church, especially while the market is struggling to overcome the perceptions created by a down economy.
Many New Thought church owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Working with Appraisers
An experienced appraiser is part and parcel of a successful New Thought church sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for New Thought churches than other buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
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