How do I review a gourmet mushroom grower’s restaurant and market customers?

Split customers into groups: restaurants, market stalls, shops and any direct sales. For each group, look at how orders arrive, how often, how steady they are and how much of the total each customer represents. A few restaurants that account for most sales is a concentration to understand, not necessarily a problem.

Look at payment. Ask which customers pay on time, which run late and whether any have unpaid invoices. Ask how prices are set and how often they change. Restaurants close and change menus, so ask how many customers were lost in the past year and why. Check whether the grower holds a market stall spot that does not pass to a buyer automatically.

Ask who talks to the chefs. Deliveries, tastings and quick answers about what is in season are often handled by the owner. Ask if the buyer could do a round of deliveries with the seller. A phone call to two or three regular customers, arranged by the seller, tells you more than a spreadsheet. Plan introductions as part of the handover, and ask your lawyer about any supply agreements. Ask whether any customer has asked for a product the farm could not supply, since that points to growth the buyer could pursue.

Key takeaways

• Group customers by type and see how concentrated sales are.
• Check payment habits and recent customer losses.
• Ride along on deliveries and call a few regulars.