The economy isn't the only thing that is uncertain these days. So are Hungarian restaurant buyers, many of whom are waiting to pull the trigger on their next acquisition.
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At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your Hungarian restaurant on the market.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the Hungarian restaurant-for-sale market, where aggressive selling strategies are the norm. 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. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your Hungarian restaurant on BizBuySell.com and other online business-for-sale sites.
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for Hungarian restaurants than other buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. Not surprisingly, seller financing is routinely requested by today's buyers. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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