When it comes time to sell your cafe you can either sell privately or engage a business broker. Its important to be prepared for the process so you know exactly what to expect. Obtaining an appraisal for your cafe is a good first step. You want to know what price you can expect to receive for your business sale. An appraisal can be obtained by speaking with a few business brokers and your accountant. Its important to obtain a few appraisals so you can make comparisons. After this, you then need to decide if you will spend some time preparing your cafe for sale, or it is ready to market. This may make a big difference to your sale price. When you are ready to sell, you will need to prepare all of your documents including a contract of sale. You then need to market the business for sale, which can be done with a business broker or privately.
The price of cafes can vary based on their profit, location and potential. In Australia, there are cafes for sale from $30,000 - $600,000+. The type of cafe you buy will depend on what you can afford, your business experience and where you want the business to be located. The cheaper cafes tend to be owner-operated and may require you to work full time in the business, whilst the more expensive cafe's may have a management team in place.
When you're looking to own a cafe there are a couple of options. You can either start or buy a cafe. The main benefits of buying a cafe include; ability to see financial history so you can predict future sales and income; obtaining a desirable location with a good lease, established clientele and an established team. You may find the costs involved in buying a cafe are better than the costs of fitting out a cafe from scratch. An established cafe has an income from day 1, so you aren't spending time on fit-out, marketing, hiring team members and sourcing clients.
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