10 Benefits of an Exit Plan – #8 Be Mentally Prepared For Your Sale
What do you plan to do once you have sold your business? This is a question that I like to ask early on in a conversation when talking to people about preparing their business for sale. It’s fair to say that information about preparing your business for sale is readily available but there is not […]
10 Benefits of an Exit Plan – #7 Sell in less time
Another advantage of having a structured exit plan is that you will have all the information you need to present to buyers in early negotiations and more importantly during due diligence. One of the common misconceptions about selling a business is that the time-consuming and challenging part is generating and dealing with buyer inquiries. The […]
Benefit #6 – Have a More Engaged Team
As you work through your Exit Plan one of the focus points will be the team that you have in your business. The ideal outcome with your team is that they help you to build a business that operates day to day without you and that the business continues to improve and grow without you. […]
SOPs For Cafés and Restaurants – What are they and why bother with them?
SOPs aim to promote consistency and efficiency by ensuring that all employees are carrying out tasks in the same way. Having SOPs in place can also help to improve quality control and minimize mistakes.
Benefit #5 – How More Free Time Adds Value to Your Business
10 Benefits of Having an Exit Plan Benefit #5 – How More Free Time Adds Value to Your Business Another major advantage of working through a longer term exit plan is that ultimately you will end up with more free time. As you do your research and consider what your business […]
Professional Cafe Valuation
The True Value of a Professional Appraisal – Four Recent Case Studies Yesterday I spoke with two owners who had recently had their businesses “valued” to get an idea of what their business might be worth. Both calls had several things in common which is not unusual, the one thing that really […]
Benefit #4 – Understand the Value and Profit Gap
10 Benefits of Having an Exit Plan Benefit #4 – Understand the Value and Profit Gap Following on from the previous post Know Exactly What Your Business is Worth I am going to assume that you now have a clearer idea of the current market value of your business. If this is the […]
Benefit #3 – Know Exactly What Your Business is Worth
10 Benefits of Having an Exit Plan Benefit #3 – Know Exactly What Your Business is Worth Your business is quite likely one of the biggest assets that you have but do you understand its true value? In most cases a business will have involved a large upfront financial investment either […]
Benefit #2 – Have Better Systems in Place
10 Benefits of Having an Exit Plan Benefit #2 – Have Better Systems in Place A big part of the sales process is about reducing the risk in the mind of the buyer. The perceived value of your business may be more affected by potential risk than you realise. If you […]
Benefit #1 – Make More Profit
10 Benefits of Having an Exit Plan Benefit #1 – Make More Profit Having an exit plan for your business is not something that you should only think about when it is time to sell. Ideally you would have your exit planned before you start or buy the business. Lets be […]
How to Apportion Goodwill, Fixtures and Fittings
The split between goodwill fixtures and fittings is something that will be agreed as part of your sale negotiation, knowing your tax position and what will suit you best is going give you the best chance of getting the terms that you want. If you have this figure worked out before you agree […]
Do I Need To Pay GST When I Sell My Cafe?
Do I need to pay GST when I sell my Cafe? The question about whether or not GST is payable on the sale of a cafe is something that seems to confuse many people and, it is certainly something that you should look into before you sell. The short answer […]
How to Transfer a Liquor Licence NSW
Transferring your liquor license is not a lengthy or complicated process, the steps outlined below walk you through what you need to do. Transfer of your liquor licence You can transfer a liquor licence when you buy or sell a business. This allows the new business owner to trade under the existing licence. Liquor & […]
What to ask your solicitor when selling a cafe
When talking to your solicitor about the sale of your one of the most important things to review is the current lease of the business. In most cases we don’t tend to look at this document after we’ve bought the business but during the sale process it’s important to go through this […]
How to Sell a Café – Financial Preparation
How to Sell a Café – Financial Preparation One of best things that you can do in order to prepare your café for sale is to have your financials prepared and ready to provide to qualified buyers. Having your financials prepared basically means having up to date information that proves the amount of […]
Exit Planning For Cafe Owners – Lease Considerations
The Sweet Spot – Timing the Sale of Your Business This post marks the first in a new series discussing the ways in which you can add value to your cafe and maximise the return when you sell. This article discusses what an important part of the valuation process the lease […]
