Selling a Business Advice
Selling an Iranian Restaurant
A lot can go wrong during the sale of an Iranian restaurant these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
In a down economy, many Iranian restaurant sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of Iranian restaurants that are actually for sale.
Undaunted by economic conditions, many Iranian restaurant sellers are achieving their sale goals through deliberate sale strategies.
Sale Preparation Timeframes
Preparing an Iranian restaurant sale takes time. For starters, the financials need to demonstrate a track record of profitability and growth. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey Iranian restaurant operation. At a minimum, plan on spending six months preparing your Iranian restaurant for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Family Business Sale Tips
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your Iranian restaurant stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
How to Increase Sale Price
There are no simple ways to sell an Iranian restaurant. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their Iranian restaurants.
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