Sell a Business Tips
Selling a Salad Restaurant
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But salad restaurants haven't heard the news and are reporting steady action on the business-for-sale market.
The salad restaurant-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your salad restaurant.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your salad restaurant. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a salad restaurant sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Share this article
Additional Resources for Entrepreneurs