Hi All,
After leaving our careers behind us a year ago, my partner and I decided to lease a tired cafe and renovate it. We have been running it for a few months now and we have come to the realisation that we enjoyed the planning and set up stage (negotiating leases, re design, decorating and marketing) more than the day to day coffee pouring. We now have a taste for buying business and selling them.
We are set up as a company.
Can anyone give me some advice on this? I have very limited knowledge of the property market.
Regards,
Peter.
As the property is leasehold, you can only on-sell the business that you have created. So, what you have to do is to get the business functioning properly (and profitably), get a 2 year track record then to place the business on the market either yourselves (with the guidance of your accountant) or a business broker (who specialises in the sale of cafes).
Metrics for cafes include kg of coffee per week, no. of trading days/hours, weekly t/o and gross profit.
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