How We Sold \nOur Ice Cream Store\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\"So now my wife and I had to decide \nwhat to do with the ice cream store.\"<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t![\"\"](\"https:\/\/thebestbizlife.com\/wp-content\/uploads\/2022\/10\/Summer-sweets-twilight-pic-Sm-1024x576.jpg\")
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tSo the year is 2021 My Cancer Resection operation is now behind me and I am Cancer free and getting better every day. The bakery, the bakery property, and the original bakery location in Brick, NJ have been sold. So now My wife and I had to decide what to do with the ice cream store.<\/p>
Even though I was physically getting better I couldn’t really help all that much at the store except to do the bills and the ordering. This put more stress on my wife and to be honest I think we were just tired after operating the store for 15 years at this point. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cUp to this point, the store had grown every year for 15 years.\u201d<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t![\"\"](\"https:\/\/thebestbizlife.com\/wp-content\/uploads\/2022\/10\/summer-sweets-inside-busySm-1024x576.jpg\")
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tSo we sat down and decided that we should sell it.\u00a0 Up to this point, the store had grown every year for 15 years.\u00a0 We thought covid was going to be devastating but we actually had our best summers during covid. People were all cooped up in their houses and everyone wanted to walk down to the local ice cream store just to get out of the house.\u00a0 We set the store up so that it was super efficient.\u00a0 The line moved extremely fast and as soon as the customers paid, we moved them outside where they could wait to hear their names for their orders.\u00a0 It was awesome.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cWe decided to sell after 15 very successful years which we thought was a great way to go out\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tEven though we had conquered Covid and we were constantly growing we decided to sell after 15 very successful years which we thought was a great way to go out.\u00a0 Now we had to go through the actual process of getting the store sold.\u00a0 Similar to selling the bakery, many of our friends and our competition had asked us if we ever thought of selling to contact them because they would be interested.\u00a0 So I gathered all of the information about those people from the past and I either called them or emailed them with the specifics of the sale.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cSo I reached out to several of the interested parties and\u2026\u2026\u2026. Crickets\u201d<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\u00a0We were very specific on the price because we knew we wanted to sell both the property and the business altogether.\u00a0 We did not want to be landlords just in case we were going to move out of state. So I reached out to several of the interested parties and\u2026\u2026\u2026. Crickets. Just like with the bakery everyone wants to be considered but no one comes up with the cash.\u00a0 So now we decided to list the store with the same family of Realtors that had sold it to us 15 years earlier.\u00a0\u00a0<\/span><\/p>We were asking top dollar for the store and the property because we knew that it was a good buy but was the market going to see it that way? \u00a0 Well, luckily it did. It wasn’t long after the store hit the MLS that we started getting calls on it.\u00a0 Some of the prospects were only interested in buying the business or buying with a lease option both of which we had no interest in.\u00a0 We wanted it to be a clean break.\u00a0 The whole enchilada.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t \u201cIt\u2018s super important to operate as if you will never sell it.\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t![\"\"](\"https:\/\/thebestbizlife.com\/wp-content\/uploads\/2022\/10\/Summer-sweets-inside-Sm-1024x576.jpg\")
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\u00a0So just like everything else in life, the pace started off really strong and we had a bunch of showings.\u00a0 Then things got a little quiet.\u00a0 So now we started to get a little nervous.\u00a0 Is the price too high is there a lack of people with the funds?\u00a0 Being in the wholesale baking business for so long I saw my fair share of food establishments being bought and sold.\u00a0 One of the lessons I took away from seeing these businesses change hands is it is important to have patience and it is super important to operate as if you will never sell it.\u00a0 I saw so many times that the owner wanted to get out of their business so bad that they let the buyer dictate all of the terms and once you let that happen your finished.\u00a0<\/span><\/p>\u00a0<\/p>
I knew this was going to be a long process so I was prepared for anything.\u00a0 I knew we owned a valuable piece of property with a profitable business so now we just had to wait for the right buyer to see that also.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cWell, my friends you came to the right business.\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tA few weeks went by and we received a message from the agent that she had a couple that wanted to see the store.\u00a0 She explained that they were not from the area but they did own a summer home in Lavallette a few blocks from the store.\u00a0 So off to the showing we go.\u00a0 The couple was very nice and they explained they were going to be retiring soon and they wanted a business that was seasonal and had a good cash flow.\u00a0 Well my friends you came to the right business.<\/span><\/p>\u00a0We checked all of their boxes and they checked all of ours.\u00a0 So off to the closing you say, not so fast.\u00a0 They wanted to get an SBA loan to purchase the property and the business. I\u2019m not going to bad mouth the SBA loan process.\u00a0 What am I talking about\u2026\u2026\u2026\u2026\u2026. of course I\u2019m going to bash the SBA loan process. It sucks.\u00a0 I have had several SBA business loans over the course of my business career and every time it’s like getting a full mouth root canal.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cAt several points, we thought the deal was not going to get done\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tThis time was no different. We started the sale process in June 2021. We didn’t get a signed contract until August 2021 and we did not close until February of 2022.\u00a0 At several points, we thought the deal was not going to get done and we would be running the store this summer of 2022.\u00a0 Luckily we gave the government 2 kidneys and a liver and the buyers had to auction their two children but we were able to finally close.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cThe transition period went extremely well and they are thriving\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tSince the new owners were not previously in the ice cream business they negotiated a transition process in which we would train them and their incoming staff on our processes and procedures.\u00a0 This stage went amazingly well because the new owners were very receptive to learning and they were very self-sufficient.\u00a0 I was expecting the transition process to be long and arduous because they were never in business before but the exact opposite was true.\u00a0 They came in straight away and picked everything up very quickly and even added some new signature products right away which I wouldn’t normally advise but it was a perfect fit for the store.\u00a0\u00a0<\/span><\/p>Conclusion:<\/strong><\/p>All in all the transition period went extremely well and they are thriving in their newly obtained business.\u00a0 We couldn’t be happier<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t![\"\"](\"https:\/\/thebestbizlife.com\/wp-content\/uploads\/2022\/10\/SS-front-picture-night-2-Sm.jpg\")
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"How We Sold Our Ice Cream Store “So now my wife and I had to decide what to do with the ice cream store.” https:\/\/youtu.be\/6cZP8d2DaLA So the year is 2021 My Cancer Resection operation is now behind me and I am Cancer free and getting better every day. The bakery, the bakery property, and the…<\/p>\n","protected":false},"author":3,"featured_media":2142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1,59],"tags":[63,62,69],"class_list":["post-1707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basic-blogs","category-home","tag-entrepreneurship","tag-sell-a-business","tag-sell-ice-cream-store"],"yoast_head":"\n
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\"So now my wife and I had to decide \nwhat to do with the ice cream store.\"<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tSo the year is 2021 My Cancer Resection operation is now behind me and I am Cancer free and getting better every day. The bakery, the bakery property, and the original bakery location in Brick, NJ have been sold. So now My wife and I had to decide what to do with the ice cream store.<\/p>
Even though I was physically getting better I couldn’t really help all that much at the store except to do the bills and the ordering. This put more stress on my wife and to be honest I think we were just tired after operating the store for 15 years at this point. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cUp to this point, the store had grown every year for 15 years.\u201d<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tSo we sat down and decided that we should sell it.\u00a0 Up to this point, the store had grown every year for 15 years.\u00a0 We thought covid was going to be devastating but we actually had our best summers during covid. People were all cooped up in their houses and everyone wanted to walk down to the local ice cream store just to get out of the house.\u00a0 We set the store up so that it was super efficient.\u00a0 The line moved extremely fast and as soon as the customers paid, we moved them outside where they could wait to hear their names for their orders.\u00a0 It was awesome.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cWe decided to sell after 15 very successful years which we thought was a great way to go out\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tEven though we had conquered Covid and we were constantly growing we decided to sell after 15 very successful years which we thought was a great way to go out.\u00a0 Now we had to go through the actual process of getting the store sold.\u00a0 Similar to selling the bakery, many of our friends and our competition had asked us if we ever thought of selling to contact them because they would be interested.\u00a0 So I gathered all of the information about those people from the past and I either called them or emailed them with the specifics of the sale.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cSo I reached out to several of the interested parties and\u2026\u2026\u2026. Crickets\u201d<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\u00a0We were very specific on the price because we knew we wanted to sell both the property and the business altogether.\u00a0 We did not want to be landlords just in case we were going to move out of state. So I reached out to several of the interested parties and\u2026\u2026\u2026. Crickets. Just like with the bakery everyone wants to be considered but no one comes up with the cash.\u00a0 So now we decided to list the store with the same family of Realtors that had sold it to us 15 years earlier.\u00a0\u00a0<\/span><\/p>We were asking top dollar for the store and the property because we knew that it was a good buy but was the market going to see it that way? \u00a0 Well, luckily it did. It wasn’t long after the store hit the MLS that we started getting calls on it.\u00a0 Some of the prospects were only interested in buying the business or buying with a lease option both of which we had no interest in.\u00a0 We wanted it to be a clean break.\u00a0 The whole enchilada.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t \u201cIt\u2018s super important to operate as if you will never sell it.\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\u00a0So just like everything else in life, the pace started off really strong and we had a bunch of showings.\u00a0 Then things got a little quiet.\u00a0 So now we started to get a little nervous.\u00a0 Is the price too high is there a lack of people with the funds?\u00a0 Being in the wholesale baking business for so long I saw my fair share of food establishments being bought and sold.\u00a0 One of the lessons I took away from seeing these businesses change hands is it is important to have patience and it is super important to operate as if you will never sell it.\u00a0 I saw so many times that the owner wanted to get out of their business so bad that they let the buyer dictate all of the terms and once you let that happen your finished.\u00a0<\/span><\/p>\u00a0<\/p>
I knew this was going to be a long process so I was prepared for anything.\u00a0 I knew we owned a valuable piece of property with a profitable business so now we just had to wait for the right buyer to see that also.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cWell, my friends you came to the right business.\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tA few weeks went by and we received a message from the agent that she had a couple that wanted to see the store.\u00a0 She explained that they were not from the area but they did own a summer home in Lavallette a few blocks from the store.\u00a0 So off to the showing we go.\u00a0 The couple was very nice and they explained they were going to be retiring soon and they wanted a business that was seasonal and had a good cash flow.\u00a0 Well my friends you came to the right business.<\/span><\/p>\u00a0We checked all of their boxes and they checked all of ours.\u00a0 So off to the closing you say, not so fast.\u00a0 They wanted to get an SBA loan to purchase the property and the business. I\u2019m not going to bad mouth the SBA loan process.\u00a0 What am I talking about\u2026\u2026\u2026\u2026\u2026. of course I\u2019m going to bash the SBA loan process. It sucks.\u00a0 I have had several SBA business loans over the course of my business career and every time it’s like getting a full mouth root canal.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cAt several points, we thought the deal was not going to get done\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tThis time was no different. We started the sale process in June 2021. We didn’t get a signed contract until August 2021 and we did not close until February of 2022.\u00a0 At several points, we thought the deal was not going to get done and we would be running the store this summer of 2022.\u00a0 Luckily we gave the government 2 kidneys and a liver and the buyers had to auction their two children but we were able to finally close.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\u201cThe transition period went extremely well and they are thriving\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tSince the new owners were not previously in the ice cream business they negotiated a transition process in which we would train them and their incoming staff on our processes and procedures.\u00a0 This stage went amazingly well because the new owners were very receptive to learning and they were very self-sufficient.\u00a0 I was expecting the transition process to be long and arduous because they were never in business before but the exact opposite was true.\u00a0 They came in straight away and picked everything up very quickly and even added some new signature products right away which I wouldn’t normally advise but it was a perfect fit for the store.\u00a0\u00a0<\/span><\/p>Conclusion:<\/strong><\/p>All in all the transition period went extremely well and they are thriving in their newly obtained business.\u00a0 We couldn’t be happier<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"How We Sold Our Ice Cream Store “So now my wife and I had to decide what to do with the ice cream store.” https:\/\/youtu.be\/6cZP8d2DaLA So the year is 2021 My Cancer Resection operation is now behind me and I am Cancer free and getting better every day. The bakery, the bakery property, and the…<\/p>\n","protected":false},"author":3,"featured_media":2142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1,59],"tags":[63,62,69],"class_list":["post-1707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basic-blogs","category-home","tag-entrepreneurship","tag-sell-a-business","tag-sell-ice-cream-store"],"yoast_head":"\n
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\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\tSo the year is 2021 My Cancer Resection operation is now behind me and I am Cancer free and getting better every day. The bakery, the bakery property, and the original bakery location in Brick, NJ have been sold. So now My wife and I had to decide what to do with the ice cream store.<\/p>
Even though I was physically getting better I couldn’t really help all that much at the store except to do the bills and the ordering. This put more stress on my wife and to be honest I think we were just tired after operating the store for 15 years at this point. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t So we sat down and decided that we should sell it.\u00a0 Up to this point, the store had grown every year for 15 years.\u00a0 We thought covid was going to be devastating but we actually had our best summers during covid. People were all cooped up in their houses and everyone wanted to walk down to the local ice cream store just to get out of the house.\u00a0 We set the store up so that it was super efficient.\u00a0 The line moved extremely fast and as soon as the customers paid, we moved them outside where they could wait to hear their names for their orders.\u00a0 It was awesome.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Even though we had conquered Covid and we were constantly growing we decided to sell after 15 very successful years which we thought was a great way to go out.\u00a0 Now we had to go through the actual process of getting the store sold.\u00a0 Similar to selling the bakery, many of our friends and our competition had asked us if we ever thought of selling to contact them because they would be interested.\u00a0 So I gathered all of the information about those people from the past and I either called them or emailed them with the specifics of the sale.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t \u00a0We were very specific on the price because we knew we wanted to sell both the property and the business altogether.\u00a0 We did not want to be landlords just in case we were going to move out of state. So I reached out to several of the interested parties and\u2026\u2026\u2026. Crickets. Just like with the bakery everyone wants to be considered but no one comes up with the cash.\u00a0 So now we decided to list the store with the same family of Realtors that had sold it to us 15 years earlier.\u00a0\u00a0<\/span><\/p> We were asking top dollar for the store and the property because we knew that it was a good buy but was the market going to see it that way? \u00a0 Well, luckily it did. It wasn’t long after the store hit the MLS that we started getting calls on it.\u00a0 Some of the prospects were only interested in buying the business or buying with a lease option both of which we had no interest in.\u00a0 We wanted it to be a clean break.\u00a0 The whole enchilada.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t \u00a0So just like everything else in life, the pace started off really strong and we had a bunch of showings.\u00a0 Then things got a little quiet.\u00a0 So now we started to get a little nervous.\u00a0 Is the price too high is there a lack of people with the funds?\u00a0 Being in the wholesale baking business for so long I saw my fair share of food establishments being bought and sold.\u00a0 One of the lessons I took away from seeing these businesses change hands is it is important to have patience and it is super important to operate as if you will never sell it.\u00a0 I saw so many times that the owner wanted to get out of their business so bad that they let the buyer dictate all of the terms and once you let that happen your finished.\u00a0<\/span><\/p> \u00a0<\/p> I knew this was going to be a long process so I was prepared for anything.\u00a0 I knew we owned a valuable piece of property with a profitable business so now we just had to wait for the right buyer to see that also.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t A few weeks went by and we received a message from the agent that she had a couple that wanted to see the store.\u00a0 She explained that they were not from the area but they did own a summer home in Lavallette a few blocks from the store.\u00a0 So off to the showing we go.\u00a0 The couple was very nice and they explained they were going to be retiring soon and they wanted a business that was seasonal and had a good cash flow.\u00a0 Well my friends you came to the right business.<\/span><\/p> \u00a0We checked all of their boxes and they checked all of ours.\u00a0 So off to the closing you say, not so fast.\u00a0 They wanted to get an SBA loan to purchase the property and the business. I\u2019m not going to bad mouth the SBA loan process.\u00a0 What am I talking about\u2026\u2026\u2026\u2026\u2026. of course I\u2019m going to bash the SBA loan process. It sucks.\u00a0 I have had several SBA business loans over the course of my business career and every time it’s like getting a full mouth root canal.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t This time was no different. We started the sale process in June 2021. We didn’t get a signed contract until August 2021 and we did not close until February of 2022.\u00a0 At several points, we thought the deal was not going to get done and we would be running the store this summer of 2022.\u00a0 Luckily we gave the government 2 kidneys and a liver and the buyers had to auction their two children but we were able to finally close.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Since the new owners were not previously in the ice cream business they negotiated a transition process in which we would train them and their incoming staff on our processes and procedures.\u00a0 This stage went amazingly well because the new owners were very receptive to learning and they were very self-sufficient.\u00a0 I was expecting the transition process to be long and arduous because they were never in business before but the exact opposite was true.\u00a0 They came in straight away and picked everything up very quickly and even added some new signature products right away which I wouldn’t normally advise but it was a perfect fit for the store.\u00a0\u00a0<\/span><\/p> Conclusion:<\/strong><\/p> All in all the transition period went extremely well and they are thriving in their newly obtained business.\u00a0 We couldn’t be happier<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t How We Sold Our Ice Cream Store “So now my wife and I had to decide what to do with the ice cream store.” https:\/\/youtu.be\/6cZP8d2DaLA So the year is 2021 My Cancer Resection operation is now behind me and I am Cancer free and getting better every day. The bakery, the bakery property, and the…<\/p>\n","protected":false},"author":3,"featured_media":2142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1,59],"tags":[63,62,69],"class_list":["post-1707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basic-blogs","category-home","tag-entrepreneurship","tag-sell-a-business","tag-sell-ice-cream-store"],"yoast_head":"\n\u201cUp to this point, the store had grown every year for 15 years.\u201d<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\u201cWe decided to sell after 15 very successful years which we thought was a great way to go out\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\u201cSo I reached out to several of the interested parties and\u2026\u2026\u2026. Crickets\u201d<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\u201cIt\u2018s super important to operate as if you will never sell it.\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\u201cWell, my friends you came to the right business.\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\u201cAt several points, we thought the deal was not going to get done\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\u201cThe transition period went extremely well and they are thriving\u201d\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"