Business Exits By Industry
Selling a Cantonese Restaurant
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet Cantonese restaurants continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
You won't find any magic formulas for selling a Cantonese restaurant, especially while the market is struggling to overcome the perceptions created by a down economy.
Most Cantonese restaurants are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Laying the Groundwork
Effective Cantonese restaurant preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a Cantonese restaurant to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium Cantonese restaurant opportunity.
Selling a Cantonese Restaurant to an Employee
Although it may seem easier to sell your Cantonese restaurant to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokers routinely work with Cantonese restaurant owners to achieve desired outcomes and deliver a successful sale as quickly as possible. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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