Business Exits By Industry
Selling a Cafeteria
We hear from a lot of business owners who are timid about listing their cafeteria. Despite the mood of the market, we think there are still opportunities to receive a good price for your cafeteria. Here's what you need to know . . .
When it comes to selling a cafeteria, there are no shortcuts to success.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a cafeteria, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Pre-Sale Checklist
The pre-sale checklist for a cafeteria is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your cafeteria. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your cafeteria. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your cafeteria until the prospect has been qualified as a serious buyer.
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