Professional Advice Needed on easing out.

Corn Dog Queen
Junior Burger
  • Total Posts : 9
  • Joined: 2005/06/28 19:48:00
  • Location: Thunder Bay , MN
  • Status: offline
2005/08/11 11:34:00 (permalink)

Professional Advice Needed on easing out.

Hello fellow foodies,
I am looking for advice on how to go about easing out of the business.
Brief background, family run catering business with a strong (good) reputation, we're in our fourth generation and it's time for me to let go. My son is not going to be taking over and I still want to have the summer concession business if at all possible.
We have a fully equipped catering kitchen, walk in freezer, walk in fridge, 2 gas/electric convection ovens and 3 double oven units with assorted tops. Three 4'x8' work tables, a showcase refrigeration unit, 1 double deep fryer and other chopping tables and work tables.
We have over 30 chaffing dishes, with hundreds of inserts, coolers, proofers,full commercial dish washing set up, commercial BBQ's, and alto sham and much more.
Here is what I am hoping to accomplish, Work the concession trade for the 3 months in the summer, but have someone else work this kitchen to it's full potential.
We also have all necessary concession equipment.
I do not want to sell the business at this time because we would never realize it's worth, and need an income for the 7-9 months left over from concession work.
It is a beautifully set up kitchen with dishes, glassware and cutlery etc enough to cater out for over 1000 people.
I am physically not wanting to do this anymore and because our winters are harsh I like to get away.
I guess my primary question is - how do I go about finding an interested party to come in and use the faciliites (full use of everything) to conduct their own catering / food service operation for an agreed price. I realize I can advertise - but not sure how to begin to go about it, and do I need to involve my lawyer ? Really just wanting to cover expenses of the building sitting here, and maybe a little bit of revenue for income.
Have any of you out there leased places similar, or leased out ?
Do you think I am being realistic or just dreaming ?

Any comments would sure be very much appreciated.
Really any seed of thought on this may help me find my way.
I've been in this business since age 6 and I'm now 51, love it but tired.


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