Commercial kitchen equipment for sale in Lexington

       On behalf of a client we will be conducting a liquidation of a large amount of commercial kitchen equipment that was part of a local catering business .  Here is the list :

Hatco booster heater,

 walk-in cooler 10x18ft (2 ton compressor),

 Walk-in freezer 4x6ft (1 ton compressor),

Hood system – 10 ft galvanized single fan with Koorsen fire suppression

Ice maker 1,400 lb. (700 lb. bin, cooled,

Hobart dish machine AM12,

8 Rectangle silver chafers,

 10 Serpentine Silver Chafers,

23 stainless chafers,

10 Large coolers,

8 56gal. trash cans,

Cleveland steamer 3 phase pressureless,

Garland 6 burner range,

 Blodgett convection over and under FA10Q (85,000 btu, rebuilt with 3 phase fan),

Groen Tilt Fryer 20 gal,

Marketforge Tilt kettle FT10CE 10 gal. 3 phase,

Tilt kettle 5 gal. single phase,

Winston CVAP roasting oven (1 phase),

CVAP Proofer, 8 stainless work tables with undershelving,

6ft. cast iron grill,

15 speed rack shelving units,

 19 cambro food cabinets,

2 sheet size and 2 hotel size crescor holding cabinets,

 hobart digital scale (max 300lbs.),

 #10 can rolling rack,

 2 4ft. propane griddles,

4 portable range ovens,

 Carter Hoffman 150 plate holding cabinet,

Carter Hoffman 120 plate holding cabinet,

queen mary rolling shelf,

3 compartment deep sink,

 2 compartment deep sink,

Hobart 14" slicer,

 Superior tabletop convection oven,

 2 commercial flood lights,

table ware for 325 place settings (k,F,S,SF, Goblet, D plate, B&B, Cfe cup, Saucer),

 HP officejet pro 8600,

Neat scanner,

 Dymo label and stamp printer,

 Goldstar microwave,

Crownex holding cabinet,

 Buffalo Chopper with pelican head,

20 stainless shelves,

200+ plate covers,

100 full sheet pans,

80 half sheet pans,

80 2" hotel pans,

20 4" hotel pans,

14" berkel slicer,

 2 hot water heaters (100gal+50gal),

RoboCoup processor

ADT Alarm system ( 1 panel,5 door sensors,4 motion sensors )

Merlin phone system ( 6 handsets )

 Ford E150 full sized van 2002  (200,000 miles )

 Ford E250 Full sized van 200, ( 296,00 miles )

Small Grocery Store For Sale in Central KY

        A small grocery store and cafe is for sale in central Kentucky and near Lexington .  The business is priced to sell at $80,000 plus inventory which is estimated to be around $15,000 .

Food Truck in Lexington, KY area for sale

Food Truck For Sale

Lexington, KY Area

            A well equipped food truck is for sale in central Kentucky .   This vehicle had a new engine installed in 2016  ( engine has less than 20,00 miles ) .

1999 GMC Workhorse

29 feet long

3 compartment sink

Handsink

Griddle

Steam table

2 burner stove

Cold prep station

Soda and water station

Storage

Display

Statewide license

Price -  $31,000 

Second Generation Restaurant Space

          The investment required to open a new restaurant can be considerable .   This is especially true if building a restaurant from the ground up .  However a great way to save on the capital investment required is to take over a location that was already built to be a restaurant and is now available to be converted into another concept .   This is " second generation space " and the savings lie in the fact that much of the necessary infrastructure is in place .  Examples of such costs include

1. Hood systems
2. HVAC
3. grease traps
4. plumbing
5. kitchen equipment
6. electrical work
7. "soft costs" including deign, permits , etc

        Depending of many factors the value in such space can vary but carefully evaluated it can be a material capital investment savings for the new restaurant .  This can result in lower debt service and break even point for the new venture .

Podcast on getting the most out of the sale of your business

See link below to Morgan and Westfield Deal Talk interview with Mark Sievers


Getting the most out of the sale of your business

2016 Global Entrepreneurship Week in Lexington

https://www.eventbrite.com/e/2016-gew-stand-up-for-your-start-up-tickets-28774198402?aff=erellivmlt

Video of Pita Bread Making Machine that is available

When is the right time to sell your business

                           When is the Right Time To Sell Your Business ?

                                                By Mark Sievers

                  In a recent article I wrote about how to  get the most of the sale of a business .   This a  companion piece about “ when is the right time to sell your business ?” .    There is no magic answer to that question but there are several factors to contemplate .   This article will attempt to shed light and perspective on these factors but they generally fall into the two categories of business and personal  with some overlap .

Business Considerations  

                First and foremost it is always a good idea to sell before you have to or need to .   If there are potential looming health, personal , competitive , regulatory or other reasons it is often  advisable to sell before these become issues because if you wait you may not have the luxury of being patient in the selling process therefore you may lose negotiating leverage .

               It is also useful to understand where your business is in terms of a business lifecycle  .    Typical lifecycle stages of a business include the following :

1. Start-up

2. Early Stage

3. Rapid Growth

4. Maturity

5. Declining

           Any business can be sold at any stage but each stage creates nuances and dynamics of the valuation and sale process .    Typically , businesses are sold at the maturity stage .   These are usually attractive acquisition candidates because of solid business history which reduces perceived risk and makes the business purchase an easier deal to get done because it’s a better fit for traditional bank financing .    Often it’s a  situation is where someone started the business years or even decades  ago and is ready to retire . 

          A business in the declining stage will be harder to sell and will have obvious downward pressure on valuation due to the earnings trend.   However, it could still be a nice acquisition candidate for someone who is a turnaround specialist or is in a related business that can bring synergy to a new combined enterprise . 

          Businesses in a start-up or early growth stage are harder to sell because you are selling “potential “ and not actual results .    If these businesses have significant intellectual property ( IP ) then the valuation argument can be enhanced .    A useful acquisition approach on these types of businesses includes a royalty or earn out approach where if the new owner brings the potential to fruition the seller shares in the upside .    How these gets measured and funded is a subject for a whole different article but I will the technique  will need to strike a balance between being too complicated and overly simple .       

        Businesses in the rapid growth stage can be very attractive acquisition candidates and will often command higher earnings multiples due to the growth curve .    However, in order to keep the business on a growth path the buyer may need extended assistance from the seller in the form of continuing involvement as part of the management team or a consulting arrangement .    The term of that involvement may be restricted if the buyer is using tradition bank financing in the form of an SBA loan .    

          If the business is a partnership then the decision to sell can become more complicated .    It is very important that both or all partners be in agreement about a sale and a valuation range before starting the process .               

         Another factor that can come into play are tax and financial planning issues .   If , for some reason, it might be more favorable to sell in the current year rather than a succeeding year then the sale process should be started as soon as prudent .     

         The seller (and key partners if any ) also should be prepared to thoughtfully embrace the sale process .    This will include complying with buyer due diligence , negotiations and using the right team of professional to assist the process  .   

 Personal Considerations        

           If you are a business owner considering a sale for the right business reasons then you need to think through if you are mentally ready to sell .      For many business owners this can be easy if they are “burnt out “ or just know “its time”  .    I was involved in a business sale last year and after the closing I asked the seller how he felt , etc..  He responded by saying “ Well,  for the first time in 42 years I can now take Saturday off “  .     It also allowed him the flexibility to travel and spend more time with grandchildren .     For others it can be a new opportunity to “ scratch that itch” and go back to school  , be a volunteer , or pursue a hobby  .   

           However, for some it can also be a challenging transition .    Being a small business owner becomes part of your identity and defines how you think of yourself and possibly how others think of you .    Without thinking this through a seller can feel a little lost after the sale .   Your business life and your social life become intertwined over the course of decades so “letting go” can be difficult .    Therefore,  thinking though that next stage in their life is important.   I know of someone who , when faced with this ,  said she was looking at the business sale not as a finish line but a starting lining in a new chapter of her life . 

            Another personal consideration is the impact on the family.  This is particularly important if family members are involved in the business .    The impact of a business sale on all family members needs to be thought through .   Some family members with have that same sense of identity with the business that the owner does .     That can be especially true if the business name includes the family name .  

           The financial impact of a business sale on the seller and his family should also be understood.   In addition to the loss of salary and dividends taken from the business there can be the loss of perks from the business ( certain expenses , travel, etc. ) .    

          In summary a seller has to understand a combination of factors when deciding to sell.   This includes not waiting too long  , the pricing implications of the business stage life cycle ,  partnership or shareholder dynamics , and being psychologically prepared to embrace the sale process  and life afterward .   And finally , another way to look at it is to consider the opportunity cost of not selling in terms of other opportunities , pursuits  and life goals .  This perspective should help clarify the thinking in this decision .

 . 

               
Published in the Kentucky Business Quarterly in 2016