Sell my Fish and Chips shop

I want to sell my fish and chips shop business

If you are considering selling your fish and chips 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 chips 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 chips shop business.

 

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• Previous sales and acquisitions experience
• Sector specialisms and average success rate
• Sales value expectations and growth potential

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Selling a Fish & Chips Shop business

When selling a fish and chips 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.

• Rising consumer expectations of food quality

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 chips 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.

• Environmental impact of product sourcing

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.

• Health and nutrition

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.

Preparing your fish and chips shop business for sale

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.

How much is my fish and chips shop business worth?

Valuing a fish and chips 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 chips shop business valuation, such as:

• Location: Rural/residential and customer demographics
• Property features: Fish and chip counter capacity, preparation room, storeroom
• Equipment: Availability and standard of industrial catering equipment
• Expansion opportunities: Adjoining premises i.e. Lodgings, takeaway, restaurant, rental property
• Property ownership type: Freehold, leasehold, franchise

The factors determining the value of each fish and chips 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 fish and chip shop business valuation.

Value my fish and chips shop business

Valuing a fish and chips 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.

Impact of coronavirus pandemic on fish and chips industry

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:

• Restructuring workforce: Businesses have been forced to review and minimise overheads due to reduced demand by making Coronavirus Job Retention Scheme (furlough) claims, accessing the Job Support Scheme and implementing redundancies
• Public health guidance: As a result of the lockdown, fish and chips shops have periodically been forced to abide by localised/national curfews, comply with social distancing measures and provide a table-only service (restaurants only)

If you are considering closing your fish and chips 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.

Benefits of acquiring a fish and chips shop business

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:

• Minimal initial start-up capital – You can instantly reduce overheads by taking advantage of industrial equipment owned by the business, retaining furnishings and existing operational structure
• Preferred business model – You have the flexibility to select your preferred ownership of the premises from a variety of businesses on the market, i.e. freehold, leasehold, or franchise
• Established reputation – As an operational fish and chips business, it may already have an established reputation and a loyal customer base

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.

How can Selling My Business help?

We are experienced in the sale of all-sized food businesses, from fish and chips shops offering a takeaway service or restaurant seating with varied frying hours, footfall and weekly turnover. The location of your chippy is likely to target prospective buyers within physical range of the business, depending on their appetite for involvement. Other areas which will also be taken into consideration include business overheads and the value of existing stock. The property tenure and EPC rating will also influence the buyers’ decision as this will likely impact expenditure. The physical layout of the property, such as customer area, parking and interior design will also help the prospective buyer arrive at a decision. Health and hygiene ratings are indicators of how much investment will be required to elevate the standards of the business. Forging relationships with reputable and responsible retail fisheries can also help towards delivering a high standard service and increasing business value.

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 chips 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.