5 Tips to Successfully Sell an Ice Cream Shop

Article updated on November 18, 2019.

Have you been contemplating selling your ice cream shop? If you don’t know where to begin, don’t stress! Sunbelt Business Brokers is here to give you the scoop! Continue reading to learn how to sell an ice cream shop.

How to Sell an Ice Cream Shop

When growth in per capita disposable income increases, the ice cream industry sees a spike in sales. In fact, from 2014 to 2019, the $5 billion ice cream store industry saw a growth of 1.8 percent. Experts at IBIS World predict this pattern of growth will continue through 2023.

With the industry performing so well, now may be the ideal time to sell your ice cream shop. To help guide you through the sale of your store, utilize the following tips from Sunbelt Business Brokers.

1. Plan Your Exit Strategy

When preparing your ice cream store for sale, you must first determine how you will exit the business.

To begin, consider the following questions. While planning your exit, keep in mind that potential ice cream store buyers will be looking for assurance that the business will continue thriving under their ownership.

• When exactly do you plan to exit the business?
• Are your retirement plans dependent on the sale of the ice cream parlor?
• Will the sale of the shop include existing staff? If so, do you need to prepare paperwork to guarantee job security under new ownership?
• How will you transfer the ownership of your store?

Once you’ve answered these questions, think of additional issues that need to be sorted out before selling. One of the secrets to successfully selling a business is developing a well thought out exit strategy.

2. Prepare the Paperwork

Once you’ve mapped out your exit strategy, begin preparing your paperwork and organizing essential documents. Potential buyers will want to review everything from tax statements to your lease agreement. Gathering paperwork is no small task; so ask your accountant, lawyer or advisor to help organize your books.

3. Obtain a Valuation of Your Store

It’s not uncommon for business owners’ emotional attachment to their businesses to cloud judgment when pinpointing a realistic asking price. The ideal way to determine a reasonable and neutral asking price is to hire a business broker or valuation service.

While inaccurate valuations can hinder your sale, there are also numerous approaches to determining how much an ice cream business is worth. When it comes time to deciding your asking price, leaving the job to a professional is your best bet.

4. Preparing Your Store for Sale

Prior to listing your ice cream shop for sale, ensure the business and the store itself are ready for potential buyers. Spend time studying potential issues with the shop and map out an actionable plan to address your weaknesses. Don’t forget to analyze your shop’s day-to-day operations, offerings, ingredients, marketing and social media strategy, and real estate. You’ll want to resolve any issues before listing the business for sale.

In addition to solving any problems, consider ways that you can expand and diversify your customer base. Offering new ice cream flavors or health conscious options are just a few ways to attract new customers. A growing fan base and increased sales will spark the interest of potential buyers.

5. Work With a Business Broker

If you’re ready to sell an ice cream shop, consider hiring a business broker. Certified business brokers have years of experience connecting sellers with interested buyers. Additionally, they have the resources to confidentially market businesses for sale and even pre-qualify potential buyers. With a professional handling the sale of your shop, you can focus on what’s most important– your day-to-day operations and loyal customers.

Get started today by contacting your local Sunbelt Business Brokers office. Our team will make the selling process stress-free and help close a deal in optimal time!