How to Sell a Niche Market Business
Selling an Ethiopian Restaurant
Your Ethiopian restaurant has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Many Ethiopian restaurant owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
When to End Negotiations
The negotiation stage of an Ethiopian restaurant can seem never-ending. Yet eventually many negotiations reach a stage where further discussion is pointless. It's not unusual for an Ethiopian restaurant sale negotiation to reach an impasse over price or other concessions. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Sale Documents
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
When Is the Right Time to Sell?
When is it the right time to sell your Ethiopian restaurant? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising Ethiopian restaurant sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the Ethiopian restaurant marketplace. With fewer Ethiopian restaurants on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
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