Ken Burgin talks with Paul Leach, a business broker and the director of GSE Business Consultants. He’s sold nine of his own food businesses over the last 24 years, and has learnt a thing or two about how the sale process works! We talked about the different professionals involved in the sales process, and went step-by-step through the decision to sell, preparing it for sale, listing the business, establishing a selling price, looking for buyers, negotiation and closing the transaction.
We also talked about negotiation with landlords, satisfying suspicious buyers, the myth of ‘growth potential’ and keeping momentum through the sales process. Paul has handled many cafe and restaurant sales, and it was great to draw on his extensive experience.