You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
listing business for sale -- Offer coming!!
- Thread starter bodegahwy
- Start date
BlueSkyPizza
New member
Re: Getting ready to list business for sale
Best of luck in selling your stores, and in your future endeavors…
Nikko
Blue Sky Pizza
www.BlueSkyPizza.com
Best of luck in selling your stores, and in your future endeavors…
Nikko
Blue Sky Pizza
www.BlueSkyPizza.com
Last edited:
Re: Getting ready to list business for sale
Thanks Nikko,
I guess it goes without saying that if anyone is interested or knows someone who might be interested in a pizza business located in a major Colorado ski resort feel free to drop me a line.
The business is quite profitable and does over 600K in sales (NOT including sales tax) (Delco location does about $450K and a seasonal slice location does about 150K in four months) The locations are for sale too. I have a buyer for the real estate if whoever buys the business is not interested. I will not sell the real estate until I know what is happening with the business. A buyer for the business will have first shot at the real estate. The gentleman interested in the real estate might also be willing to go in with a buyer of the business but you would have to work that out with him.
Managers and staff are in place. Everything is running well at the moment (you all know how that is!) Many staff are with us for 2nd,3rd,4th year, some even longer.
Thanks Nikko,
I guess it goes without saying that if anyone is interested or knows someone who might be interested in a pizza business located in a major Colorado ski resort feel free to drop me a line.
The business is quite profitable and does over 600K in sales (NOT including sales tax) (Delco location does about $450K and a seasonal slice location does about 150K in four months) The locations are for sale too. I have a buyer for the real estate if whoever buys the business is not interested. I will not sell the real estate until I know what is happening with the business. A buyer for the business will have first shot at the real estate. The gentleman interested in the real estate might also be willing to go in with a buyer of the business but you would have to work that out with him.
Managers and staff are in place. Everything is running well at the moment (you all know how that is!) Many staff are with us for 2nd,3rd,4th year, some even longer.
Last edited:
Re: Getting ready to list business for sale
Good luck in the sale. How did your meetings with the business broker go a couple month ago? Please keep us up with this whole process, as there is very liitle info here about someone selling a successful business. Typically just liquidating the squipment. What are you moving on to?
Good luck in the sale. How did your meetings with the business broker go a couple month ago? Please keep us up with this whole process, as there is very liitle info here about someone selling a successful business. Typically just liquidating the squipment. What are you moving on to?
Last edited:
S
system
Guest
Re: Getting ready to list business for sale
It is crunch time for many operators. I know of several pizza shops in my area that could be chnaging hands or closing out right due to the economic pressures.
It is crunch time for many operators. I know of several pizza shops in my area that could be chnaging hands or closing out right due to the economic pressures.
Wizzle_Wassell
New member
Re: Getting ready to list business for sale
Da314man
Where have you been Dale??? Its been a long time since you’ve posted - whats been happening?
Da314man
Where have you been Dale??? Its been a long time since you’ve posted - whats been happening?
Last edited:
Re: Getting ready to list business for sale
Got another call today… possible buyer. Apparantly have the $$. Investor that may help with the real estate side of the deal if need be. Hope to hear more over the weekend. Could be a deal done in 30 days according to the broker that they are working with. But then, I have been through this dance twice already in the last 6 months so I am not holding my breath.
Got another call today… possible buyer. Apparantly have the $$. Investor that may help with the real estate side of the deal if need be. Hope to hear more over the weekend. Could be a deal done in 30 days according to the broker that they are working with. But then, I have been through this dance twice already in the last 6 months so I am not holding my breath.
Last edited:
Re: Getting ready to list business for sale
Got the first request for follow-up info. I spent a good portion of this morning doing a full year-to-date summary of sales and all expenses. The good news is that the sales are 6/10ths of one percent from what I told the broker. The even better news is that using forecasts for December, the totals for the year come out better for owner’s discreationary cash flow by about 10K from what I told him making my asking price a pretty darn good deal. Also, another space in the same development as my delco location sold about three weeks ago providing a comp for that (real estate) part of the deal which supported my asking price to within 1%.
Here’s hoping.
Got the first request for follow-up info. I spent a good portion of this morning doing a full year-to-date summary of sales and all expenses. The good news is that the sales are 6/10ths of one percent from what I told the broker. The even better news is that using forecasts for December, the totals for the year come out better for owner’s discreationary cash flow by about 10K from what I told him making my asking price a pretty darn good deal. Also, another space in the same development as my delco location sold about three weeks ago providing a comp for that (real estate) part of the deal which supported my asking price to within 1%.
Here’s hoping.
Last edited:
Scott_Hack
New member
Re: Getting ready to list business for sale
Bodegahwy,
That really is awesome. Did you look at selling the business to a few of the employees and keeping the real estate? Real Estate is one of the best investments you can make IMHO.
Bodegahwy,
That really is awesome. Did you look at selling the business to a few of the employees and keeping the real estate? Real Estate is one of the best investments you can make IMHO.
Last edited:
Re: Getting ready to list business for sale
Met with a broker that has a client today to review numbers. I have several interested parties for the real estate which is nice. It means I can sell the business separately if a buyer is interested and be confident of selling the property as well.
Another buyer is interested in one of the locations and the real estate which means I can sell the other if a buyer only wants that one. I had not thought I could sell them to different buyers since one location depends on the other for prep and storage but the interested buyer is already in the pizza business and is interested in the dependent location.
Best of all, talking to buyers gives me a good level of confidence that the asking price is in-line with the market at 3X owner’s dicretionary cash flow. If a contract comes up this week, I can still take the best of the winters business before closing. If not, cash flow is excellent for the next 15 weeks. The crew is hired and trained. Things are good right now.
Here’s hoping.
Met with a broker that has a client today to review numbers. I have several interested parties for the real estate which is nice. It means I can sell the business separately if a buyer is interested and be confident of selling the property as well.
Another buyer is interested in one of the locations and the real estate which means I can sell the other if a buyer only wants that one. I had not thought I could sell them to different buyers since one location depends on the other for prep and storage but the interested buyer is already in the pizza business and is interested in the dependent location.
Best of all, talking to buyers gives me a good level of confidence that the asking price is in-line with the market at 3X owner’s dicretionary cash flow. If a contract comes up this week, I can still take the best of the winters business before closing. If not, cash flow is excellent for the next 15 weeks. The crew is hired and trained. Things are good right now.
Here’s hoping.
Last edited:
Re: Getting ready to list business for sale
The broker is meeting with the interested buyers this AM to talk about choices and if they are serious get an NDA and get serious. I am also meeting with the other buyer this AM as well. Hopefully I will know a lot more by tonight.
The broker is meeting with the interested buyers this AM to talk about choices and if they are serious get an NDA and get serious. I am also meeting with the other buyer this AM as well. Hopefully I will know a lot more by tonight.
Last edited:
Re: Getting ready to list business for sale
The broker’s buyers are meeting me at the store this AM to look the place over. They signed the NDA and are interested. The other buyer I met with wants to buy one of the locations and said I could expect an offer within the week. I told them I will not sell only one unless I have a buyer for the other and they said they might be willing to buy both and then would spin off the one they are not really looking at.
All this and Christmas too!
The broker’s buyers are meeting me at the store this AM to look the place over. They signed the NDA and are interested. The other buyer I met with wants to buy one of the locations and said I could expect an offer within the week. I told them I will not sell only one unless I have a buyer for the other and they said they might be willing to buy both and then would spin off the one they are not really looking at.
All this and Christmas too!
Last edited:
Re: Getting ready to list business for sale
Met with the potential buyers today and gave them a tour of the main location. Broker called back a few times today with requests for info. Last call was 10 minutes ago saying he was expecting them to write an offer in the next couple of days.
Met with the potential buyers today and gave them a tour of the main location. Broker called back a few times today with requests for info. Last call was 10 minutes ago saying he was expecting them to write an offer in the next couple of days.
Last edited:
S
system
Guest
Re: Getting ready to list business for sale
how do you know how much to ask for busness, is there a caculation to use or something? just wandering for future reference…
how do you know how much to ask for busness, is there a caculation to use or something? just wandering for future reference…