In a down economy, many Evangelical church sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of Evangelical churches that are actually for sale.
(article continues below)
Despite the conventional wisdom, we believe current economic conditions are right for selling an Evangelical church. We'll tell you what you need to know to achieve a successful sale outcome
The Best Person to Sell Your Evangelical Church
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. 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 Evangelical church to gain an objective sense of fair market value.
Laying the Groundwork
Effective Evangelical church preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate an Evangelical church to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your Evangelical church on the market.
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. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Given your interest in exit planning and in Evangelical churches, you might find these additional resources to be of interest.
If starting an Evangelical church is on your agenda, these helpul resources may be just what you've been looking for:
If you consider Evangelical churches to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.