How do I sell a business?

I opened a coffee shop about a month and a half ago. We invested like $50,000 in it, and it is going well, but not yet turning a profit (as expected a new business). However, we have no more capital to cover the loss of the business, and our personal income isn't enough to maintain us and cover the loss. We tried to secure a loan but we have bad credit and were turned down.

We are at a point where our only option is to lose it come month's end to the landlord, or to sell it. I'd like to do the latter since at least we can get something back. Also for a capitalized $42,000 business, how much can we expect to get. The business itself is solid and well set up - it is just young and we have no money to run it.

p.s. we considered bringing on a partner, but that would actually be harder than selling it, as we understand it.

Since you are not making any money, you shouldn't expect to be able to sell the business at all, unless you are selling to someone who has an idea of how to run this business. Find out if there are any young and aggressively expanding chains of coffee shops in your area and see if they would be interested in buying your coffee shop. Alternatively, just cancel the lease on the real estate and start selling the equipment.

Whatever you do, expect to realize a loss.

get a 'FOR SALE' sign

Find a financial planner maybe that will help you to get the money you need. You could also try the Chamber of Commerce to see if the can send you in the right direction.
If you do sell it be sure to get a lawyer and a tax consultant so hopefully you can get out without a loss.
Good luck.

Join my small business group. Here what others say. I think you can either sell or rent that building. I do not know where you are located.

Check out the following site for selling businesses online. http://www.bizbuysell.com

Eric
http://ericsquest.blogspot.com