Have you thought about selling your restaurant? Are you ready to sell and let go? Selling a restaurant can be a mentally tough and draining decision. Several restaurant owners view ownership of a restaurant as having a child, an business identity, a way to provide for the family, and a legacy.
According to Forbes, baby Boomers, defined as people born between the years 1946 and 1964, account for approximately 40 percent of small business or franchise ownership.
Forbes also states that the Baby Boomer generation accounts for an estimated 2.3 million small businesses in the United States, employing over 25 million people. Many of these businesses are thriving, and nearly 60 percent have no succession or transition plan in place.
The Baby Boomer population today is listing restaurants for sale or looking for a restaurant valuation to consider their options to sell a restaurant.
Reasons for Baby Boomers to Sell a Restaurant:
- Pandemic
- Work labor shortage
- Inflation
- Retirement
- Health
- Divorce
- Partnership Issues
The Dallas Restaurant Broker Dominique Maddox states, “EATS Broker provides restaurant owners with a complimentary restaurant valuation. Numerous restaurant owners will inquire about a restaurant valuation but are not ready to sell”.
Today’s Restaurant Owners must be honest with themselves if they are ready to sell a restaurant? The Restaurant Broker provides some questions to consider when thinking about selling a restaurant.
How to know if you are ready to sell a restaurant? Ask yourself these questions:
- Is the restaurant ready for a sale?
- What are my plans after I sell my restaurant?
- Am I ready to sell a restaurant?
- What happens if I don’t sell my restaurant?
- Who can help with selling a restaurant?
- Should I try For Sale by Owner or hire a Restaurant Broker?
- What sales price will I need to be happy?
To learn more about EATS Broker consulting services or to receive a complimentary restaurant valuation, contact Texas Restaurant Broker Dominique Maddox at 404-993-4448 or by email at [email protected]. Visit our website at www.EATSbroker.com.
