Selling a Business
Common Questions Asked
Selling a Coffee Shop Business
How long does it take to sell my Coffee Shop?:
About 3-6 months is the average time it takes to sell your coffee shop, it could however take longer
When should we tell staff that the coffee shop is up for sell?:
Tell all staff when they are together and answer all questions to make them feel at ease. The best time to tell them is as soon as advertising starts as everyone knows everyone in the industry and you do not want your staff to find out from a customer or another coffee shop.
How do we know what price to set for selling our coffee shop??:
A business sales broker knows the market and will use several different valuation methods who will then recommend the highest price they could achieve.
How much does it cost to sell a coffee shop?:
Preparation – Sales information to be completed for the sale
Marketing – Advertising and marketing
Sales Broker – Commission to be paid on completing successful sale
Lawyer & Accountants – Contracts, sales agreements, leases, tax planning and financial
Should I sell my coffee shop myself or use a business broker?
There are a number of key points worth considering when buying or selling a business.
Business brokers offer a range of services to buyers:
Work with all parties until settlement
Keep the deal moving and are focused on outcomes
Have access to listings, often before they are listed.
Negotiate for both the buyer and the seller even though they represent the seller