Sell a Business Tips

Selling a Supper Club

Don't believe anyone who tells you it's easy to sell a supper club. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.

Economic data is scary stuff for small business owners. But quarterly data dumps don't impact supper club sales nearly as much as sale strategy.

The good news is that ambitious entrepreneurs continue to see supper clubs as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.

What About Market Conditions?

At first glance, today's market would seem to be a hostile place for supper club sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of supper clubs will flood the market and drive prices down even further. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your supper club as attractive as possible so to buyers right now.

Seller Financing

Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized supper club buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.

Selecting a Broker

Good business brokers inevitably produce better business sales. In the supper club industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling supper clubs.

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