At a certain point in a bakery owner’s life, there comes a time to hang up the apron and sleep through your alarm. Selling your bakery is an exciting step into a new phase of life, even if it is difficult for a business owner to move on. When you decide to sell your bakery, many moving parts go along with that choice. If you’re ready to swap bread and cakes for relaxing on the beach, here are some things to consider when selling a bakery.
Gather Up Your Ingredients
When selling any business, you have to get all of your books in order. Have your financials laid out for prospective buyers and highlight any growth or success you have seen over the year, as well as projections for the year ahead. You should also have a detailed list of your inventory and equipment. Industrial baking equipment adds up, so having a record of your equipment, how much it’s worth, and how to service it will help buyers know what they are getting into and how to take care of everything. Your buyer may be newer to the foodservice industry, so having the worth of your business laid out can make that transition go more smoothly.
When selling your bakery, you aren’t just selling the physical space, but all the relationships you nurtured over the years. Keep in mind when you find a buyer for your bakery, you must notify your suppliers, vendors, and other partners that work with your bakery. You’re going to want to find a buyer that can easily take over those relationships and keep them going with the same enthusiasm you had.
Marketing Your Bakery
One of the hardest parts of selling a business is marketing. As a business owner, you’re already busy opening up shop, helping with products, following up on orders, talking to vendors, and everything else that can pop up throughout the day. Finding the time to market your bakery may be impossible. It’s a great idea to bring in a broker to help you with the sale of your business. Working with a broker opens your business up to their network of potential buyers. They also have the time and expertise to market your business at the best price to the most appealing buyers. You can work with a broker instead of using your time trying to post your business to online sites. Using a broker’s knowledge of the market will help you find a buyer that is ready and eager to take over your bakery.
No matter how you decide to sell your business, Alliant Capital is here to help. From selling sweet treats to handing over the keys to the new owner, we’ll work with you every step of the way to ensure you find the perfect buyer for your bakery business. When we find a buyer, we help you through the sale..Our agents are ready to answer questions you may have about selling your business. Who knew selling could be so sweet?