Once upon a time there was a very popular breakfast joint. After more than a decade of delighting regulars and new visitors alike it was time for the industrious owner to try new things.
They contacted BCG to learn about selling their business and quickly learned that some of the ‘old school’ cash sale practices that maximized income over the years actually made selling their very profitable restaurant for a good price almost impossible.
What to do?
BCG devised a win/win plan. The very best person to sell the restaurant to was a key employee who had the knowledge and talents to continue forward. Since this key person had no available capital we were able to ask a far higher price since the owner was carrying all the paper.
The owner won by selling to a qualified, experienced buyer who we knew would continue to operate the restaurant successfully. And for a very good price and terms.
The employee because they were able to purchase and subsequently pay off the valuable restaurant with zero credit. And because we completely understood the financials the monthly payment on the loan was well within the capability of the restaurant to pay the loan and the new owner nicely.
The moral of the story? If you want to accomplish something in the world of business and you’re not sure how to go about it give BCG a call!