Business Exits By Industry
Selling a Cuban Restaurant
Most businesses are susceptible to economic conditions and Cuban restaurants are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
The Cuban restaurant-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
There are still plenty of Cuban restaurant buyers looking for opportunities that present well in the marketplace.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Timing Your Cuban restaurant Sale
If you're feeling like your tenure as the owner of the Cuban restaurant is coming to an end, the time to sell is now. Some experts are telling Cuban restaurant owners to wait for a better economy to put their business on the market. We aren't nearly as pessimistic about the Cuban restaurant marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a Cuban restaurant sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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