Despite consumers’ growing preferences for healthy and convenient food options, deli businesses survived the shift and continued to thrive. In fact, the delicatessen and butcher shop industry has grown at an annualized rate of 0.3 percent over the last five years. With deli shops adjusting to the new norm, experts predict the industry will continue to perform well over the years to come. If you’re considering cashing in on your hard work and selling a deli, follow the business owners’ guide from Sunbelt Business Brokers.
Once you’ve decided on selling a deli business, refer to the following tips to help you receive top-dollar for your listing.
When it comes to exiting a business, preparation is key. While it’s never too early to strategize your exit, don’t fret if you’ve waited until now to solidify your plans. To help develop your plan, keep in mind the main questions an exit strategy should answer:
While these questions are a great start point for planning an exit strategy, it’s always best to consult a professional advisor to create a seamless plan for exiting and selling your deli shop.
After finalizing a sound exit strategy, be sure to prepare your business’ records for interested parties. Serious buyers will likely want to review your books to ensure they’ll be making a wise investment if they choose to place an offer on your deli. To present your business in the best light, locate and organize any tax documents, contracts, and lease paperwork.
There are many ways to value a deli restaurant, but the most accurate method involves the help of a professional. Hiring a business broker or other related professional can help avoid any emotional attachment to the business that may otherwise cloud your judgment. To determine a fair valuation, an expert may consider the deli’s financial records, location, the condition of the building, and more. To find a valuation professional near you, consider reaching out to your local Sunbelt Business Brokers office.
Before listing your deli shop for sale, you’ll need to be sure it’s in tip-top shape if you want to receive exceptional offers. To attract interested buyers, address any weaknesses in your business and develop an improvement plan. Be sure to compare your business to local competitors, including independent delis and even the deli counter at the grocery store.
While there are several ways to improve your business and increase value, specific ways you can add value to your deli include:
To further help decide what areas to improve, consider what you would view as most valuable as a potential business buyer.
Once your sandwich shop is ready, you’ll need to list your deli for sale. It’s certainly possible to list your business independently, but hiring a business intermediary offers a variety of benefits you would otherwise miss. Listing with a business broker ensures a stress-free process and can ultimately help your listing be seen by a larger pool of potential buyers. Deli businesses are in high demand, and an experienced broker may have the perfect client in mind who’s interested in buying a deli.
If you’ve decided to list your shop for sale and move on to other endeavors, locate your nearest Sunbelt Business Brokers office! Our business intermediaries offer a tried-and-true nine-step selling process and are ready to help today.
Article updated on December 20, 2019.