Optimizing Business Exits
Selling a Raw Bar
There is a lot of confusion about the best way to sell a raw bar these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a raw bar, capital restrictions are holding them back.
Too often raw bar owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. 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.
What to Expect in a Raw Bar Sale
Prepare yourself to feel a broad range of emotions when you sell a raw bar. From hopefulness to remorse, it's all part of exiting of your company. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a raw bar sale by setting realistic expectations before you list your business.
Signs You're in Over Your Head
Many raw bar are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your raw bar is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
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