How to Sell Your Business
During the coronavirus pandemic. Some essential businesses have seen their values going up in today’s environment. Eleven percent of businesses have seen no impact from Covid-19, and another 11% saw sales rise because they work in industries such as delivery, online education, e-commerce and others that are now in hot demand. Of course, it will be challenging to sell businesses that have temporarily been shuttered during the pandemic, because valuations are based on historical financial data. More than 45% of business sale transactions have been delayed, according to the Market Pulse Report. However, if they reopen their businesses and recover, many owners will be able to position them for sale. So, what should you do if you want to sell in the next year or two?
A good business broker will be able to help come up with flexible deal structures and capital sources to make a deal possible…Bielat Santore & Company; call for free consultation – 732.531.4200.
The CDC Released a Flowchart
To determine if a restaurant or bar should reopen. As more states slowly lift stay-at-home orders, the Center for Disease Control has issued guidelines for reopening restaurants and bars. The guidelines presented in a flowchart, begin by asking some basic questions on whether the states or locality the businesses has allowed them to reopen, and if the organization can protect employees who are at high risk. If the answer to either of those questions is “no,” the business should not open.
Is It Safe to Go Out to Eat?
Before you decide, public health experts advise taking these steps. Restaurants are slowly returning in many states. Just because you can eat out again, though, does not mean that you should. And if you decide to go back before the virus is under control, it will not necessarily be clear which dining rooms are safest. Restaurants will have to navigate a situation that is new to them and to the rest of the world. New guidance for restaurant operators from the Centers for Disease Control and Prevention favors broad principles (“Intensify cleaning, sanitization, disinfection and ventilation”) over specific standards.
Summer Weather Could Help Fight Coronavirus Spread
But won’t halt the pandemic. New research has bolstered the hypothesis that summer’s heat, humidity, abundant sunshine and opportunities for people to get outside should combine to inhibit — though certainly not halt — the spread of the coronavirus. But infectious disease experts add a cautionary note: Any benefit from summer conditions would likely be lost if people mistakenly believe the virus can’t spread in warm weather and abandon efforts that limit infections, such as social distancing.
Did You Know?
35 popular restaurants that won’t reopen after the pandemic. One of the industries that has been hardest hit by the coronavirus shutdown of American businesses is the food service trade. In just the first three weeks of March, restaurant sales nationally plummeted 47%. This is due largely to the fact that restaurants all over America are now temporarily limited to providing dine-out services only. Because restaurants tend to operate with substantial debt and on small profit margins at the best of times, a long-term closure inevitably means death to some. According to a survey conducted in late March by the National Restaurant Association, 3% of operators reported that they had already permanently shuttered their eateries, while 11% of the remainder said that they might well close within the next 30 days.
Employee Tip
If you’ve been financially impacted by the coronavirus, you may be able to pause payments on these 8 bills. Many employees are out of work or facing reduced hours as US businesses temporarily close to prevent the spread of the coronavirus. Lenders are empathizing with people who are struggling to pay their bills during the pandemic. If you reach out to companies, you may be able to pause any of these eight bills — and make life a little less stressful during the outbreak.
Bielat Santore & Company – Restaurant Industry Alerts
Ocean County, NJ Roadside Restaurant-Bar. Iconic, roadside Ocean County, NJ eatery for sale! family owned and operated restaurant/bar with long-standing track record; known to locals as the “Gathering Place;” seats 65 inside and 40 on outdoor deck/patio; real estate and liquor license included in sale; financing available to qualified. Further details call 732-531-4200.
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Thank you and remember all of the “Restaurant Industry Alerts” and “Thursday Restaurant Rap” interviews can be found at www.123bsc.com/news/. We intend to continue to keep you informed as we all look for an end to this crisis.
