Optimizing Business Exits
Selling a Religious Readings Business
Market shifts affect business values and the religious readings business market has been exceptionally volatile. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a religious readings business during challenging economic times.
The religious readings business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Average Timeframes
Hoping for a quick religious readings business sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. 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.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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