Exit Planning Techniques By Market
Selling a Fish and Chips Restaurant
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But fish and chips restaurants haven't heard the news and are reporting steady action on the business-for-sale market.
You won't find any magic formulas for selling a fish and chips restaurant, especially while the market is struggling to overcome the perceptions created by a down economy.
There is no simple way to sell a business. But the most prepared fish and chips restaurant sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a fish and chips restaurant negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your fish and chips restaurant? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Timing Your fish and chips restaurant Sale
When is it the right time to sell your fish and chips restaurant? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising fish and chips restaurant sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the fish and chips restaurant marketplace. The inventory of what we consider to be quality fish and chips restaurants is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
The Best Person to Sell Your Fish & Chips Restaurant
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your fish and chips restaurant in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the fish and chips restaurant to gain an objective sense of fair market value.
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