When looking to acquire larger assets like an already established company, having an ally helps a lot. They know the ropes well which makes the process quicker and smoother. Those useful allies would be business brokers.
Oh Wait! I almost forgot. There is one more problem with either of those options. You see, there is a direct relation to your leadership skills and the value of your company. However, the problem is; now listen to this very carefully: the stronger your leadership, the less valuable your company is in the marketplace without you? Ask yourself this question: If I were no longer here how much business would we lose immediately? Within the first quarter? Within the first year? Business brokers in thailand know this and they devalue your company based on their perception of your leadership and involvement.
Depending on the complexity of the deal, it could take anywhere from 45 days to 120 days to close escrow on an F&B Business brokers online. There are techniques used to gain “early possession” of the restaurant, meaning the buyer takes possession before escrow closes, but this takes a skilled F&B broker to navigate through the rough waters to properly structure the transaction.
Of course, you need not worry about whether you can sell the business or not; that is the job of the agent. Whether in good times or bad, business brokers would not have lowered their fees.
Do they know how to Run the Business? – The more the buyer knows about the business the better chance that they will be successful and be able to pay you.
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.
You would imagine that franchise restaurants records would be very accurate because the franchise company gets a percentage of the gross income. The bigger ones connect up to the individual franchise and know what is happening faster then the owner. As stated above, the only sales that can be made and not declared to the computer are catering or delivery orders, which could be done without ringing them up.
And you’re going to want to put a team together, and that includes an intermediary, a transaction attorney and your accountant. You want to get your family on board, and you want to plan this out.