Top 10 Tips to consider before selling a licensed and leisure business

When someone is buying a business, their main causes for concern are:

• 1. Will the staff stay?
• 2. Will the customers stay?
• 3. Will I be able to run the business OK from Day One?
• 4. Will the property need significant repair or redecoration?
• 5. Are the books up to date, and do they give a clear picture of the full situation?
• 6. Has the business continued to be invested in, or is it run down (so I’ll suffer next year)?

In a nutshell, therefore, The Top 10 tips to maximise your selling price and minimise your selling time are:

• 1. Property: Appearance and cleanliness.
• 2. Services: State of repair and maintained well.
• 3. Legal issues: Compliancy and clear documentation.
• 4. Staff: Well trained and clear job roles.
• 5. Suppliers: Organised and clear documentation.
• 6. Admin: Up to date and transparent.
• 7. Systems: All business processes systemised and clear.
• 8. Marketing: Organised, clear and effective. Paid up for following year.
• 9. Customer service: Clear systems and measurement.
• 10. Checks: Getting an independant proffessional to check the above and the business appearance from the purchaser’s point of view.