Optimizing Business Exits
Selling a Religious Orders Business
Many business leaders say that now isn't the time to try to sell a religious orders business. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your religious orders business on the market.
When the economy recovers, we expect to see a sudden influx of religious orders businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
But at Gaebler, we see religious orders businesses still selling at a brisk pace. 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.
What to Expect in a Religious Orders Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your religious orders business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your religious orders business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Sweetening the Deal
Today's religious orders business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. In the current economy, seller financing is becoming common in religious orders business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Share this article
Additional Resources for Entrepreneurs