If you’ve been thinking about selling your restaurant or bar, you’re not alone. Chances are, your main motivation falls under one of the 5 main reasons listed below:
ILLNESS OR DEATH IN THE FAMILY
This is by far the most common reason for selling a restaurant, and it’s unfortunately a very unfortunate one! Feeling unwell (our own or our loved ones’) has a sobering effect on us. We tend to immediately rearrange our priorities.
When most of our personal wealth is tied up in our business, the prospect of a sale provides an opportunity to convert our assets into cash, diversify our investments, and enjoy our newly liquid resources.
Owning a restaurant brings enormous rewards. Unfortunately, personal stress can accumulate over a long period of time. The list of stressors is long: difficult employees, theft, tight deadlines, payroll, personal financial guarantees, taxes, compliance with health inspections, rethinking the restaurant concept. There is a moment when stress reaches OVERWHELMING, we feel saturated and need to sell!
While many entrepreneurs never consider this possibility, there is the inevitable problem of age. The secret is to find the optimal time so that the sale takes place at a time of our choosing.
After years of living on the edge, many entrepreneurs simply become exhausted and hope for relief from the incessant pressure. They choose other interests that challenge their knowledge, skills, and abilities. Selling a restaurant can open the door to new professional and personal opportunities.
CHANGE IN MARKET TRENDS
A decline in the popularity of certain types of venues, or a rise in new dining and entertainment concepts like themed restaurants or casinos, may prompt a reassessment of business models. The latest trends show that the online casino app mit echtgeld is gaining popularity, where you can get real money while enjoying a pleasant game.