Sell a Business for the Best Price
Selling a Polynesian Restaurant
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your Polynesian restaurant, it's in your best interest to maximize the sales price through the application of proven sales techniques.
In a down economy, many Polynesian restaurant sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of Polynesian restaurants that are actually for sale.
The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your Polynesian restaurant, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your Polynesian restaurant to today's buyers.
Timing the Market
Now may be the best time to sell a Polynesian restaurant. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on Polynesian restaurants. When the economy recovers there will be more Polynesian restaurant buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Negotiation Teams
It's not unusual for Polynesian restaurant sellers to feel overwhelmed when they negotiate the sale of their business. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your Polynesian restaurant. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a Polynesian restaurant sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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