There is a lot of appeal in owning and operating a small coffee shop or café in Seattle. This is a city where people tend to walk or cycle a lot, which means there is a good deal of foot traffic and a lot of opportunities to capture the dinner, lunch and even breakfast crowds.
This is also a city where casual dining in a café is typical and routine. The local coffee shop is a great place to meet friends for a morning coffee a muffin, a wonderful light lunch or supper, or a decadent dessert and iced or hot beverage after supper.
As an owner, making the decision to put your business up as cafe for sale in the city is a big step. Before doing anything on your own, or even before announcing this to your employees, talking to a business broker that specializes in restaurant sales is an essential first step.
Set a Timeline
In most cases, a restaurant or coffee shop in the city will take approximately three to five months to sell. Additionally, you may need an additional three or more months to prepare the café for sale.
A business broker can valuate your business. This means they will assess what the café would be worth compared to the current market value. This includes assessing your capital investments, understanding your customer base and even assessing any rental agreements, if you own the property, or if you have any contracts that will continue to create income for a buyer.
At the time of the valuation, the broker may also make recommendations to assist you in making the café more attractive to buyers. This can be essential in keeping the time the business is on the market to a minimum.
Management and Financials
One simple suggestion many brokers will make for a privately owned and operated café for sale is to hire a manager and not do everything as the owner. Potential buyers may not want to be locked into being at the café during business hours and having a manager in place running the daily operation takes this pressure off a potential buyer.
Another common issue with a smaller café in Seattle is a lack of structure with regards to the financials. Ensuring vendors are under contract to continue to supply the café at current costs, making sure profit and loss statements are accurate and in place and even updating manual bookkeeping to online systems can all be recommendations from a broker to help with the sale.
