The best way to achieve the best price possible when you sell your newsagency is for the business to be as profitable as possible. The price you will sell the business for will depend on provable profitability.
Too many newsagents run their businesses expecting that their pay day will be when they sell and that the price will be a multiple based on some sort of industry formula. These formulas no longer apply except that of a sale price based on a multiple of net profit.
I urge newsagents to stop running their businesses expecting that their pay day will be when they sell. Instead, run your business as if every day is your pay day. The profit you make today and this week is the return your business delivers to you. If it’s not profitable then do something about it. It’s your business! Act! Look at your costs, your pricing policies, your marketing and your management. Take control of the business. Back in 2010 I wrote more on this topic here.
You don’t buy a newsagency today as a safe place to park your retirement money. No, you buy it as a viable operational business that delivers a return each day and week. Your profit today and this week is your responsibility.
The most important profit you will make is today and this week. Is this how you run your newsagency?