Exit Planning Techniques By Market
Selling a Filipino Restaurant
Is the economy still a little shaky for a business sale? Sure it is. Yet Filipino restaurants continue to sell at a brisk pace, regardless of the economy.
Selling a Filipino restaurant? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
However, serious buyers also understand the value of a good Filipino restaurant. So for Filipino restaurant sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a Filipino restaurant scan stir up a range of emotions. It's important to allow yourself time to process your emotions during your exit. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
Dealing with Tire Kickers
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 Filipino restaurant. 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. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your Filipino restaurant until the prospect has been qualified as a serious buyer.
How to Increase Sale Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a Filipino restaurant. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
Share this article
Additional Resources for Entrepreneurs