Sell a Business for the Best Price
Selling a Pancakes and Waffles Restaurant
Most businesses are susceptible to economic conditions and pancakes and waffle restaurants are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
At Gaebler, we're seeing pancakes and waffle restaurant sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a pancakes and waffle restaurant up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on pancakes and waffle restaurants. Sooner or later, rates will rise, increasing the risk for prospective buyers of pancakes and waffle restaurants. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a pancakes and waffle restaurant that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your pancakes and waffle restaurant. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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