491: Graceful Exits: How to Sell Your Coffee Shop w/ Aaron Friedman

When you start a business, pretty much all your attention goes to getting it up and running and then to keeping it going and growing it over the hopefully many years of its life. What we often do not plan on or put energy into how we will exit the business. Whether it is passing it on to or selling it outright, many are ill prepared to make this transition and when they do want to sell or exit, are left with very few options and a business that is not sellable. Today we are going to be covering the ins and outs, of what it takes to prepare yourself and your business for this future transition. I am so pleasded to welcome to the show, Aaron Friedman of Guideposts.io. Aaron Friedman is a seasoned business leader with over two decades of experience spanning information technology, startups, venture capital, and acquisitions. Hailing from El Paso, TX, Aaron's passion for innovation was cultivated early on in his grandfather's machine shop working on racing engines. With a history of founding and selling companies across the globe, Aaron now specializes in acquiring and transforming companies. Beyond his professional pursuits, Aaron dedicates his free time to mentoring local entrepreneurs with Score.org, restoring classic cars, and indulging in his fascination for sailing. He has a proven track record of driving operational excellence and navigating complex business landscapes and is counted on as a trusted partner for navigating business exists. We cover The Silver Tsunami and the Impact on Business Exits The Importance of Profitability and Building a Strong Foundation Delegate or Die: The Need for Delegation and Focus on Growth Defining Forward: Risks, Vulnerabilities, and Documentation The Value of a Turnkey Operation Consistency and Branding: Keys to Business Value Documenting Recipes and Processes for Consistency and Risk Mitigation Delegating and Empowering Key Employees for Growth and Exit Planning for the Future: What Do You Want Your Business to Look Like After You Exit? Effective Communication and Setting Expectations in Delegation Regularly Creating an Exit Plan: A Practice for Business Owners LINKS: https://www.guideposts.io/ Related Episodes: 223 : Building a Financially Resilient Business w/ Andrew Carroll 489: Tips for Creating a Resilient Cafe 486: Why You should Fire Your Landlord and Consider Owning Your Building w/ Paul Neal 414: Secret Ingredients for a Successful Coffee Shop 330 : Establishing Systems in Your Coffee Shop 453 : The Craft of Operations 374: Opening a Coffee Shop: Fantasy vs Reality (w/ bonus commentary)" Insights, perspective, accountability, and growth are just a few of the benefits that have changed lives through consulting, workshops, and trainings. ​For the last few years I have wanted to bring to more people, that same kind of transformational experience in a small group setting and now we are now ready to begin! I have personally been in a group for podcasters for the last 6 years and have also hired coaches, consultant, and been a part of an online community. It has all been indescribably transformational. Key Holder Coaching Groups will be hosted by Chris and consist of a curated group of 5 coffee shop owners. We will meet together 2x per month for 2 hours over a 6 month period. This structured group will allow each member to have multiple hot seat opportunities to present specific issues to the group and gain insight, feedback and direction to help them develop themselves, their people, and their business. In addition we will be consistently updated on each others progress and have opportunity to speak into each others lives. Key Holder Coaching members will have access to each other via the Circle.so community app Key Holder Coaching Group Applications are Open! APPLY TODAY! Get the best brewer and tool for batch espresso, iced lattes, and 8 minute cold brew! www.groundcontrol.coffee The world loves plant based beverages and baristas love the Barista Series! www.pacificfoodservice.com