Optimizing Business Exits
Selling a Restaurants Architects Business
You've learned a lot during your tenure as a restaurants architects business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
In a down economy, many restaurants architects business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of restaurants architects businesses 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 restaurants architects business, 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 restaurants architects business to today's buyers.
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Maintaining Objectivity
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. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your restaurants architects business. Few people know your business as well as you do. The problem is that your passion for your business can also sabotage your sale. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the restaurants architects business to gain an objective sense of fair market value.
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