What should I prepare to sell my concession stand business?
Prepare sales records for each event, tell the organisers early enough that they can meet the buyer, package the equipment, recipes and supplier details, and plan to work a stretch of the season with the buyer. Selling in the off-season gives the buyer time to learn the business before the first event.
A buyer of an event concession is mostly buying your place on the calendar and your way of running it. A storefront donut shop sale hinges on a lease; this one hinges on organisers, records and a handover that lets the buyer take your spot with confidence. The more of that you can show, the easier the sale.
Time the sale around the season
Sellers often weigh the off-season when timing a listing. Buyers can inspect equipment, read your records and meet organisers without the rush of an event day. They also have time to arrange financing and plan to start with you for the first events. Listing in mid-season can work, but it leaves less room for a careful handover.
Document sales for each event
Gather sales for each event across your seasons, with dates, locations and notes on weather. Keep your bank deposits and books lined up with them, so your accountant can explain the figures. Buyers trust records they can trace, and they will ask about events that were dropped.
Organisers, equipment and training
Decide when to tell each organiser, and ask how they would like to meet the buyer. Be honest about which spots are secure and which are up for review. List the equipment, recipes, supplier contacts and brand assets in the sale. Offer to work some events with the buyer; a season of hands-on training is often what makes a buyer comfortable.
Related reading
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Buying
- Expert answerHow do I negotiate when buying a business?
- Expert answerHow do I negotiate the price when buying a business?
- Expert answerHow do I find a donut shop for sale?
- Expert answerFranchised or independent donut shop: what should a buyer weigh?
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaIndustryHow to sell your business
- 02Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 03Business Development Bank of CanadaGovernmentHow to Find the Right Buyer for Your Business
- 04Business Development Bank of CanadaGovernment7 steps to increase your business’ value—before you sell it
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