Business Exits By Industry
Selling a Chicken Carry-Out Business
Is the economy still a little shaky for a business sale? Sure it is. Yet chicken carry-out businesses haven't been deterred. In fact, we think this economy is a ripe environment for a chicken carry-out business sale.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a chicken carry-out business, capital restrictions are holding them back.
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 chicken carry-out business.
The Case for Confidentiality
Highly publicized chicken carry-out business sales are risky chicken carry-out businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your chicken carry-out business on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Should I Hire a Business Broker?
When selling a chicken carry-out business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your chicken carry-out business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your chicken carry-out business. 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.
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