Every business needs an exit strategy, unfortunately most do not. Why you ask? Well, most people who start their businesses love the idea and concept of owning their own company, so why on Earth would they want to plan on leaving their baby? Good question, but all good things come to an end and it’s wise to understand this and to have a succession plan to leave your business to a younger family member, key manager, or relative. If not, you need to sell you business, for at least enough money to have made it worthwhile.
Looking for potential buyers: A well-known business can be easily sold by spreading the word, otherwise you will need to reach to a wider audience. You could also hire a business for sale bangkok online.
Be willing to stay involved. Even if you are feeling burnt-out realise that the Buyer may want you Business brokers online to stay within arm’s reach for a while. Consult with your broker to determine how you can best effect a smooth transition.
There are so many franchise options out there, it is often difficult to know where to turn for a good one. There are three things to consider when deciding.
Restaurants come in two categories. 1. Fast food-counter sales. 2. Sit down. Fast food restaurants have computerized cash registers that record the sales into its computer, which has a memory. This memory has daily totals going back to the beginning of the computer’s history. Most owners close out their cash registers at the end of the day and print out the tape of each day’s activities. This does not automatically wipe out the information for the day. The computer does, I am told, have a delete button on it allowing the owner to wipe out the full memory in the computer, in the event of an audit. I have also been told, but do not believe, that an electrical blackout can wipe out the memory in the computer and that is why one seller said he couldn’t give me access to this information.
To finance the deal, seller financing is probably the best option available to you. You won’t get a bank loan without offering a 100% collateral. The Small Business Administration does offer some financing but only for deals that meet a strict set of criteria.
The normal action of sellers, in this situation, is to require that the buyer take the business based on the recorded records and guess as to how profitable the place really is. This is a very difficult situation for the brokers and buyers, since sellers do not price their business based on these reported numbers but base their price on the real numbers.
All of this publicity has made owning a store in this business a profitable business to own. There is a side to the business that comes to the owner that is not measured in money. That is the feeling a person gets by helping someone that needs help.