I was asked by two customrs today f I’d be willing to sell. They claim to have been in the business before and are looking to purchase an up and running store. I’ve heard of a few different formulas used to calculate the selling price of a small shop but am not sure if it’s would be wise to consider leaving this location and starting another… tips anyone?
Re: asked if we are willing to sell… keep going or move on
You know what’s the best time to sell right?.. When you have a buyer.
Seriously, if selling was on your radar, you should give it some serious thought. Consider though, that you will sign a non-compete in most cases. If I were the buyer, I would ask for several years and include the whole county.
In general terms, pricing for a successful small store that earns more than a manager would make to run the place is often in the range of 2 to 3 times what you make on the place. Does this equal what you have into it? Maybe, maybe not. Does it equal what it would cost to start over?
Unless I really wanted to do things differently and move, I would not consider selling one store to start another.