Optimizing Business Exits
Selling a Restaurant Equipment and Supplies Rental Business
Is the economy still a little shaky for a business sale? Sure it is. Yet restaurant equipment and supplies rental businesses haven't heard the news and are reporting steady action on the business-for-sale market.
A business exit is always a trying experience. But when you need to sell your restaurant equipment and supplies rental business in a depressed economy, the challenges can seem insurmountable.
Despite the conventional wisdom, we believe current economic conditions are right for selling a restaurant equipment and supplies rental business. Here's how to do it . . .
Realistic Expectations
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your restaurant equipment and supplies rental business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Professional Appraisals
There is no substitute for a qualified appraisal in the sale of your restaurant equipment and supplies rental business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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