If you are considering selling your fish and chip shop as you wish to cease ownership of your fast food business due to ill health, owner retirement, Covid-19 trading pressures or other interests, we can help you start this journey and source an interested buyer.
When considering the sale of your fish and chip shop or restaurant, it is vital to prepare your business for sale, ensuring that it is presentable to prospective buyers, both visually and operationally. You will be required to conduct a business valuation to determine the financial worth of your business, helping you establish an asking price which represents market value. Am experienced business transfer agent can help you maximise sale value by attracting reputable buyers actively searching for a fish and chip shop business.
When selling a fish and chip shop business, prospective buyers are likely to question how the business can further increase turnover by identifying opportunities and challenges. In addition to the due diligence process, sharing a comprehensive understanding of the food industry and how the business is adapting to changing consumer needs can help paint an image of business direction.
As the food industry directs focus to quality assurance, a rise in demand for locally sourced ingredients and organic fruit and vegetables has led to the use of higher quality ingredients by traditional fish and chip shops. Data gathered by Feed It Back shows that negative reviews as a result of poor food quality have increased by 10 per cent, rising to an overall 18 per cent, highlighting the growing importance of quality ingredients.
As more independent cafes, restaurants and fish and chip shops fight to satisfy consumer expectations, the industry is embracing new trends and continues to work towards reinventing the quintessentially, British staple meal to cater to consumers with a variety of dietary requirements.
The spotlight for the food industry shines on sustainable sourcing across multiple supply chains to mitigate climate change, prevent food waste and protect the environment by using recyclable packaging. Sustainable fishing is the foremost industry concern due to the environmental impact on sea life and local fishing communities. Consumers can identify fish and chip shops providing MSC (Marine Stewardship Council) certified seafood which meet sustainable fishing standards and a rigorous chain of custody standard for traceability.
As obesity is an ongoing issue tackled by Public Health England, portion control is a key mechanism used to reduce obesity. The National Federation of Fish Friers (NFFF), the official professional body representing the fish and chip industry, launched the ‘Perfect Portion’ initiative to educate the fish and chips sector on food quality and portion control. This consists of measures such as offering a variety of portion sizes, managing oils and nutritionally testing food.
"Having previously worked with Selling My Business, I approached them to sell my fish and chip shop business as I am fast approaching retirement. They found me a genuine buyer within record time and sealed the deal after I agreed on a competitive offer which was beyond what I expected. "
Carole – Fish & Chip Takeaway and Restaurant, Cumbria
The stage before carrying out a business valuation of your food business is instrumental as by streamlining operations, eliminating unnecessary costs and maintaining high standards of business reporting, you can mirror a well operational business. The Selling My Business team have access to a self-built database of over 10,000 registered buyers, so the necessary records must be collated during the preparation stage and readily available for due diligence checks. The next stage of conducting a business valuation will help establish an asking price for your business.
Valuing a fish and chip shop business consists of calculating the worth of company assets, inventory, balance sheet, earnings and deducting company liabilities. Several factors will be taken into consideration when carrying out a fish and chip shop business valuation, such as:
The factors determining the value of each fish and chip shop business will vary as the operational structure and financial health will contribute to the overall business valuation. At Selling My Business, we have a dedicated, in-house valuation team who can offer a free fish and chip shop business valuation.
Valuing a fish and chip shop business consists of determining the worth of tangible assets required to deliver food service in both a takeaway and restaurant setting. We have a demonstrable history and a proven track record of working to sell all-sized fish and chip shops to competitive buyers across the country. The Selling My Business valuation team require 3 years’ worth of recent/historic accounts to begin the valuation process for your fish and chips business. If you have questions concerning how to value a fish and chip business, contact Selling My Business for tailored advice.
The coronavirus pandemic has pushed countless businesses in the food services sector into financial decline and in more serious cases, company liquidation. As the economy enters a stage of recovery and consumer demand sufficiently returns, food and hospitality businesses face many hurdles as a result of Covid-19. The coronavirus lockdown continues to leave a long-lasting mark on the industry, adversely impacting businesses in the following ways:
If you are considering closing your fish and chip takeaway or restaurant, an alternative to company liquidation is selling your business through a reputable, experienced and hands-on business transfer agent. Serious buyers continue to show strong buying appetites during the coronavirus pandemic, excluding ingenuine buyers from the running.
If you are interested in starting your fish and chip business, buying an existing fish and chips takeaway is an ideal way of owning a chippy and entering the food trade. As the proprietor of an already established fish and chip business, there are many advantages, such as:
Upon acquiring the business, you may choose to make a minimal investment to refine the service, add your personal touch, such as rebranding to continue operations seamlessly. There are many benefits to acquiring a ready-made fish and chip shop business, contact a member of the Selling My Business team for more information.
Selling My Business have over 100 years’ collective experience in directing the sale of owner-managed businesses, a significant percentage of which are independent, family-run and franchise fish and chip shop businesses. We have worked with UK’s leading fish and chip proprietors, facilitating the sale of household names recognised on both a regional and national scale.
The Selling My Business team are highly experienced in the sale of fish and chip shops and we have a database of buyers actively searching for businesses in the food service industry. Contact a member of the Selling My Business team for a free fish and chip shop business valuation.
Contemplating selling your business? Our free, comprehensive guide will walk you through how you can sell your company. Our FREE guide covers all of the essentials, including:
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