Can anyone advise me on how to close a small espresso business? Whether and when to announce it?

Question

I am about to close a small retail coffee business that is not performing well enough financially after 16 months open. I need advice on when to tell employees, customers, and also how to go about finding a tenant to take over my lease and possible purchasers for equipment and other stuff.

Answer 1

There is no good way to do it other than quickly.

Figure out which is your best performing day of the week and set to close in two weeks on the day after that best day of the week.  This is assuming that the business is set up in an corp or an LLC.  If it is all in your name then you are obligated to pay on your lease until it runs out.

The sooner the better.

If you wanted to invite some of your favorite customers for a free cup of coffee on your final day that would be a nice gesture for their patronage.

Good Luck

Answer 2

Employees need to know three months in advance, while your customers in the last weeks of your planned closing, you can advertise on the local print media for a tenant and equipment sale etc