Looking for advice on business sale.

I own and operate a pizza delco in Canada and recently found out that after our 5 year term they have decided not to renew our lease and are forcing us out (after the business has been located here for 25+ years).

We are in a bad position due to having older equipment some of which is grandfathered in (water cooled walk in compressor) among a few others and it would cost us substantially more than it may be worth to move in our current poor economic environment.

My question is: Is there a reasonable way to sell the good will and equipment of the business without a lease in place as we do around 200k in sales yearly and it seems like a waste to just sell the equipment at auction as we wont see much of anything.

Any advice is welcome!

Thanks!

A pizza operation doing 200 k in sales really has no good will to offer, the business its not overly profitable at that level and it would be hard to find someone to purchase your name, recipes and procedures at that rate.

How much of your five year term remains? If less than two years, sell your equipment for what you can get and move on. If you have 4-5 years left you might be able to get someone to give you 50K to be able to operate that long and they can look at moving the business when the time comes…

All in all not a pretty picture.