In this podcast, Ken Burgin talks with Paul Leach from GSE Business Consultants about Buying and Selling Cafes and Restaurants. Paul is an experienced business consultant and broker: he originally trained as a chef and has many years of experience as a cafe and bakery owner.
There are some great hospitality businesses for sale, and many that will be disappointing – it’s essential to understand the factors that make the difference between a good purchase and a bad one. Paul also assists business owners to prepare their business for sale through an orderly exit process, and is the founder of Australia’s best Facebook Group for hospitality operators: Growth, Strategy and Exit Planning For Cafe Owners. If you want to know how to buy or sell a cafe or restaurant, this podcast is packed with useful information.
Topics Discussed…
- State of the cafe and restaurant market – what type of businesses do people want to buy after two years of Covid?
- City or country businesses – how does the market differ?
- With the buying and selling process, what parts do people find most challenging?
- Legal issues – leases, contracts, licenses and other obligations. What do people struggle with?
- Landlords and occupation costs – there has been more scrutiny on how landlords behaved during Covid lockdowns
- Understanding the figures – due diligence for buyers, and preparing a case for sellers. Are better figures now available with decent bookkeeping becoming the norm?
- Financial benchmarks – what makes a business an attractive purchase?
- How to make your business more ‘saleable’ beyond good profit figures?
- How to value your business and justify the price. Any value in ‘potential’?
- Why use a broker to sell vs. doing it yourself?
🎧 Subscribe to Hospo Reset Podcast on Apple Podcasts. on Google Podcasts, on Spotify or your podcast app of choice. Here is the full list of Hospo Reset podcasts.