Niche Exit Planning Strategies
Selling a Deli
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet delis continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Cutting corners never pays off, especially in the sale of a deli.
If you're ready to move on, now is the right time to sell your deli.
Average Preparation Time
It's critical to properly plan for the sale ofa deli. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey deli operation. Since all of this takes time and effort, a deli can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your deli. 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young deli owner, they can be critical launching points for their ownership journey.
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 deli. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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