Pizza Today - March 2022 - 77

important as well if the buyer seeks an owner willing to
finance a portion of the deal, something that is becoming
increasingly commonplace in today's market.
" Seller financing on its own increases the chances for a
successful sale, " Debussy says. " However, the owner carrying
the note must feel comfortable that the buyer can
make the payments while also sustaining the business. "
Leveraging professional help
In the case of an outside sale, most business owners
contact a business broker to assist with a professional
business valuation. This allows the owner to evaluate if a
sale is worthwhile and, if so, to establish an asking price.
Fruin hired a Chicago-based brokerage firm to market
Flingers, handle all inquires and vet prospective buyers.
In return, Fruin agreed to a 10 percent commission, a
figure in line with the typical eight to 12 percent commission
rate.
At Pizzeria Caldera, Hansen interviewed multiple
brokers before selecting one with a strong network and
broad marketing base. A residential real estate agent,
Hansen might have been able to sell Pizzeria Caldera
himself, though he quickly realized a business sale is
" more of a legal transaction than a real estate transaction. "
To that point, Hansen considers a competent attorney
just as important as a broker given how much of a
business sale is accomplished through legal contract. In
his transaction, attorneys from both sides drafted and
examined documents and " did a lot of the heavy lifting "
in the four months leading to the May 1, 2021 close.
Debussy reminds that sellers should also be prepared
to stay on for some time after the sale, from a few weeks
up to a year, to assist the incoming owner. Hansen, for
example, had two months of set hours at Pizzeria Caldera
before officially departing this business on July 1.
Attorneys and brokers can help negotiate and finalize
those details, the price and tie up loose ends. In the
Flingers' deal, Fruin and Cummings " met in the middle "
on the final price, which included a $90,000 bonus
structure designed to retain staff and propel consistent
operations.
" I'm still the landlord, so I have a vested interest in
seeing [Cummings] succeed, " Fruin says, adding that his
planning, preparation and professional help allowed him
to avoid a " panic situation. " n
DANIEL P. SMITH Chicago-based writer has covered
business issues and best practices for a variety of trade
publications, newspapers, and magazines.

http://wellsfoodservice.com http://wellsfoodservice.com

Pizza Today - March 2022

Table of Contents for the Digital Edition of Pizza Today - March 2022

Vital Restaurant Reports
Commentary
Digital
Conversation
Mike's Monthly Tip
Man on the Street
Building Blocks
Tony's Trending Recipe
Knead to Know
Destinations
Nurturing Young Talent
Six Money Savers
Regulatory Red Tape
Operating Hours
Solid Slice Sales
Trending Tavern Style
Southeast Asian Fusion
Pasta for Profits
Hot Topping: Chorizo
Valuation of the Biz
Transferring Ownership
The Spinoff Pizzeria
Employee Morale
Go on the Offensive at Pizza Expo
On the Road: Triple Jay's Pizza, Atlanta, Georgia
Product Showcase
Pizza Today Yellow Pages
The Marketplace
Expo Spotlight
Pizza Today - March 2022 - CT1
Pizza Today - March 2022 - CT2
Pizza Today - March 2022 - Vital Restaurant Reports
Pizza Today - March 2022 - Cover2
Pizza Today - March 2022 - Commentary
Pizza Today - March 2022 - 4
Pizza Today - March 2022 - 5
Pizza Today - March 2022 - 6
Pizza Today - March 2022 - 7
Pizza Today - March 2022 - Digital
Pizza Today - March 2022 - 9
Pizza Today - March 2022 - Conversation
Pizza Today - March 2022 - 11
Pizza Today - March 2022 - Mike's Monthly Tip
Pizza Today - March 2022 - 13
Pizza Today - March 2022 - Man on the Street
Pizza Today - March 2022 - 15
Pizza Today - March 2022 - Building Blocks
Pizza Today - March 2022 - 17
Pizza Today - March 2022 - Tony's Trending Recipe
Pizza Today - March 2022 - 19
Pizza Today - March 2022 - Knead to Know
Pizza Today - March 2022 - 21
Pizza Today - March 2022 - 22
Pizza Today - March 2022 - 23
Pizza Today - March 2022 - Destinations
Pizza Today - March 2022 - 25
Pizza Today - March 2022 - 26
Pizza Today - March 2022 - 27
Pizza Today - March 2022 - 28
Pizza Today - March 2022 - 29
Pizza Today - March 2022 - 30
Pizza Today - March 2022 - 31
Pizza Today - March 2022 - 32
Pizza Today - March 2022 - 33
Pizza Today - March 2022 - Nurturing Young Talent
Pizza Today - March 2022 - 34A
Pizza Today - March 2022 - 34B
Pizza Today - March 2022 - 35
Pizza Today - March 2022 - 36
Pizza Today - March 2022 - 37
Pizza Today - March 2022 - 38
Pizza Today - March 2022 - 39
Pizza Today - March 2022 - Six Money Savers
Pizza Today - March 2022 - 41
Pizza Today - March 2022 - 42
Pizza Today - March 2022 - 43
Pizza Today - March 2022 - Regulatory Red Tape
Pizza Today - March 2022 - 45
Pizza Today - March 2022 - 46
Pizza Today - March 2022 - 47
Pizza Today - March 2022 - Operating Hours
Pizza Today - March 2022 - 49
Pizza Today - March 2022 - 50
Pizza Today - March 2022 - 50A
Pizza Today - March 2022 - 50B
Pizza Today - March 2022 - SG1
Pizza Today - March 2022 - SG2
Pizza Today - March 2022 - SG3
Pizza Today - March 2022 - SG4
Pizza Today - March 2022 - SG5
Pizza Today - March 2022 - SG6
Pizza Today - March 2022 - SG7
Pizza Today - March 2022 - SG8
Pizza Today - March 2022 - SG9
Pizza Today - March 2022 - SG10
Pizza Today - March 2022 - SG11
Pizza Today - March 2022 - SG12
Pizza Today - March 2022 - SG13
Pizza Today - March 2022 - SG14
Pizza Today - March 2022 - SG15
Pizza Today - March 2022 - SG16
Pizza Today - March 2022 - SG17
Pizza Today - March 2022 - SG18
Pizza Today - March 2022 - SG19
Pizza Today - March 2022 - SG20
Pizza Today - March 2022 - SG21
Pizza Today - March 2022 - SG22
Pizza Today - March 2022 - SG23
Pizza Today - March 2022 - SG24
Pizza Today - March 2022 - SG25
Pizza Today - March 2022 - SG26
Pizza Today - March 2022 - SG27
Pizza Today - March 2022 - SG28
Pizza Today - March 2022 - SG29
Pizza Today - March 2022 - SG30
Pizza Today - March 2022 - SG31
Pizza Today - March 2022 - SG32
Pizza Today - March 2022 - SG33
Pizza Today - March 2022 - SG34
Pizza Today - March 2022 - SG35
Pizza Today - March 2022 - SG36
Pizza Today - March 2022 - SG37
Pizza Today - March 2022 - SG38
Pizza Today - March 2022 - SG39
Pizza Today - March 2022 - SG40
Pizza Today - March 2022 - 51
Pizza Today - March 2022 - Solid Slice Sales
Pizza Today - March 2022 - 53
Pizza Today - March 2022 - 54
Pizza Today - March 2022 - 55
Pizza Today - March 2022 - Trending Tavern Style
Pizza Today - March 2022 - 57
Pizza Today - March 2022 - 58
Pizza Today - March 2022 - 59
Pizza Today - March 2022 - Southeast Asian Fusion
Pizza Today - March 2022 - 61
Pizza Today - March 2022 - Pasta for Profits
Pizza Today - March 2022 - 63
Pizza Today - March 2022 - 64
Pizza Today - March 2022 - 65
Pizza Today - March 2022 - Hot Topping: Chorizo
Pizza Today - March 2022 - 67
Pizza Today - March 2022 - 68
Pizza Today - March 2022 - 69
Pizza Today - March 2022 - Valuation of the Biz
Pizza Today - March 2022 - 71
Pizza Today - March 2022 - 72
Pizza Today - March 2022 - 73
Pizza Today - March 2022 - Transferring Ownership
Pizza Today - March 2022 - 75
Pizza Today - March 2022 - 76
Pizza Today - March 2022 - 77
Pizza Today - March 2022 - The Spinoff Pizzeria
Pizza Today - March 2022 - 79
Pizza Today - March 2022 - 80
Pizza Today - March 2022 - 81
Pizza Today - March 2022 - Employee Morale
Pizza Today - March 2022 - 83
Pizza Today - March 2022 - 84
Pizza Today - March 2022 - 85
Pizza Today - March 2022 - Go on the Offensive at Pizza Expo
Pizza Today - March 2022 - 87
Pizza Today - March 2022 - 88
Pizza Today - March 2022 - 89
Pizza Today - March 2022 - On the Road: Triple Jay's Pizza, Atlanta, Georgia
Pizza Today - March 2022 - 91
Pizza Today - March 2022 - 92
Pizza Today - March 2022 - 93
Pizza Today - March 2022 - Product Showcase
Pizza Today - March 2022 - 95
Pizza Today - March 2022 - Pizza Today Yellow Pages
Pizza Today - March 2022 - 97
Pizza Today - March 2022 - 98
Pizza Today - March 2022 - 99
Pizza Today - March 2022 - 146
Pizza Today - March 2022 - 101
Pizza Today - March 2022 - 102
Pizza Today - March 2022 - The Marketplace
Pizza Today - March 2022 - 104
Pizza Today - March 2022 - 105
Pizza Today - March 2022 - 106
Pizza Today - March 2022 - 107
Pizza Today - March 2022 - 108
Pizza Today - March 2022 - 109
Pizza Today - March 2022 - 110
Pizza Today - March 2022 - 111
Pizza Today - March 2022 - 112
Pizza Today - March 2022 - 113
Pizza Today - March 2022 - Expo Spotlight
Pizza Today - March 2022 - Cover3
Pizza Today - March 2022 - Cover4
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