Optimizing Business Exits
Selling a Restaurant Menus Business
No one said selling your business in a depressed economy would be easy. Fortunately, a restaurant menus business sale isn't as scary as it seems.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
But at Gaebler, we see restaurant menus businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Realistic Expectations
For most owners, the hardest part of selling a restaurant menus business is remaining objective. 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. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Sweetening the Deal
Today's restaurant menus business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young restaurant menus business owner, they can be critical launching points for their ownership journey.
Professional Appraisals
An experienced appraiser is part and parcel of a successful restaurant menus business sale. 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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