Selling a shop is three negotiations at once: the business on its earnings, the stock at a value both sides accept, and the lease with a landlord who may have an absolute right to refuse. The third one decides the timetable more often than the first two decide the price.
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Start with the landlord
Read the lease for its remaining term, assignment provisions, personal guarantees and any break or renewal rights, then start the consent conversation before marketing. Consent takes weeks, some landlords use the request to reset the rent, and a short remaining term is a discount rather than a question. Renewing before a sale often returns more than it costs.
Stock and fixtures
Inventory is usually valued separately at cost for saleable stock, with obsolete and slow moving lines written down. Agree the counting method and the obsolescence rule in the letter of intent so the closing count is arithmetic. Fixtures and fit out are part of the business, and a buyer prices whether the store will need refitting soon.
Staff and the handover
Employees usually transfer, and a buyer will ask about pay rates, hours and any long service entitlements. Where a manager runs the shop day to day the business is easier to sell and prices better, because the buyer is not purchasing your presence behind the counter.
Other questions people ask
Can I sell with a short lease?
Yes, at a discount. The buyer is buying uncertainty, and renewing or extending first usually returns more than the cost of doing it.
How is a shop valued?
On a multiple of seller's discretionary earnings, plus stock at valuation. Location, lease terms and whether the owner works in the business all move the multiple.
Do I tell my staff?
Usually once the deal is certain rather than probable, with any key manager the buyer wants to keep told earlier under their own agreement.