Request profit and loss statements, balance sheets, tax returns, and bank records. You’ll need this information not just for your own understanding but to include in your business plan when you seek financing. Find out what metrics go into running the business. Try to get as accurate an understanding as you can of the profit and loss statement. It might even be worth considering buying the business itself and relaunching it with a new name and theme. While there are plenty of ways to right a financially sinking ship, fighting off a bad reputation can be perilous and needs to be considered before chosen as the battle you may want to face. So be sure to look into the history of the restaurant, its reputation, and its finances. There’s a good chance that both will try to highlight the positives and minimize the negatives of their proposition. Others may realize that their ship is sinking, and are trying to jump off before it gets any lower. Not all reasons for sale are the same: some operators sell a sandwich shop when it’s going strong to get the best price they can. When looking at sandwich shops for sale, here are 10 things to check into before investing. Maybe you might find a shop that’s somewhere in between-a promising concept that just needs new leadership to get out of a rut and really shine. Or, if you’re not careful, you might wind up the owner of a money pit on its way out of business. As the new owner, you’ll take the baton of good brand recognition and an existing customer base. You could be purchasing a well-oiled machine that’s ready for even more improvement. That’s why many entrepreneurs, including those with no experience but interested in an investment, choose to buy an existing sandwich shop. But it is an uphill path, to be sure, and for obvious reasons. Starting a sandwich shop from scratch is the dream of many with experience in the industry.
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