How to Sell a Niche Market Business
Selling a European Restaurant
A good business is about more than dollars and sense. To make your European restaurant what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
The European restaurant-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
However, serious buyers also understand the value of a good European restaurant. So for European restaurant sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your European restaurant. 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. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
Sale Preparations for Your European Restaurant
The outcome of a business sale is largely determined prior to a market listing. Attractive European restaurant sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your European restaurant. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Post-Sale Details
As your European restaurantsale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
Share this article
Additional Resources for Entrepreneurs