Have you finally found the perfect How to finance the business for your future establishment and agreed on a purchase price with the owner?
Now it’s time to secure financing to finalize your dream project. While banks can sometimes be cautious (despite your enthusiasm and a solid business plan), you can then turn to other possible sources of financing, including:
- Alternative loans
- Microcredit
- Guarantee credit
- Supplier credit
- Grants
- Crowdfunding
- Relatives
- Rent-free period
- Equipment financing
Would you like to learn more about british student data these financing methods? We explain how they work in more detail in this article, ” Financing a Restaurant: Help with Starting a Business.”
The (real) reason for selling the restaurant
What are the (real) reasons the seller is selling their restaurant? Sometimes it’s just early retirement, a career change, or a new challenge. All legitimate reasons in themselves. But make sure the seller’s motivations aren’t reasons that what to choose when working with an agency will harm your future baby . That’s why a thorough analysis of the numbers, equipment, furniture, employees —in fact, all the points mentioned above— will ensure you get off to a good start.
If the reasons given seem impossible to overcome, even for your brilliant new concept, it may not be worth the effort.
Bonus tip: What is the procedure for buying a restaurant business? How to finance the
The purchase of a business requires compliance with the following legal formalities:
- Declaration of the proposed sale at the town hall
If you intend to purchase a How to finance the business located in a commercial protection area , the transferor of the business must first declare their intention to transfer it to the town hall. The latter has a 2-month right of pre-emption, during which it can purchase the property sold.
2. Inform employees before the sale
The establishment which transfers its taiwan lists business must inform its employees of the proposed transfer at least 2 months before its actual sale.
3. Signing of the deed of transfer of the business
The next step is to draft and sign the deed of sale of the business, including elements such as the sale price, turnover, operating results for the last 3 financial years and information on the lease (duration, amount).