Business succession is the planned handover of an operation to family, employees or external buyers — and in hospitality it is a race against time: thousands of healthy businesses close every year because no successor was found or the handover started too late. Rule of thumb: 3–5 years of lead time. What is sold is not the furniture but a transferable, documented business model — and that has to be built first.
Enter the sustainable result — a first value range following earnings logic appears instantly.
Rough orientation, not a valuation: hospitality businesses often change hands at 3–5 times the sustainable result — location, lease, owner dependence and investment backlog shift the range strongly. Negotiations need a real valuation with your tax advisor.
| Route | Typical | Crux |
|---|---|---|
| Family | Transfer/gift with usufruct or annuity | Fairness among siblings, tax structuring, the senior's role |
| Employees (MBO) | Head chef/manager takes over step by step | Buyer financing — vendor loans and earn-outs help |
| External buyer | Sale via brokers/exchanges (e.g. nexxt-change) or discreetly via networks | Proving transferability: numbers, standards, a team that stays |
| Leasing out | Keep ownership, lease the operation | Tenant selection and inventory rules (see lease agreement) |
3–5 years before the intended handover — value drivers like owner independence and a clean track record take years. The most common mistake is not the wrong buyer but the late start.
In a business transfer, employment contracts pass to the acquirer with all rights (§ 613a BGB) — often a plus for buyers (a settled team!) when personnel records and terms are transparent.
Via tax-advisor/consultant networks, industry contacts (suppliers hear a lot), anonymised listings on succession exchanges like nexxt-change and the IHK succession service. Discretion protects team, guest and supplier relations until signing.
Selling delivers the capital cut, leasing ongoing income with remaining ownership risk (maintenance, tenant changes). Retirement planning usually decides — calculate both with the tax advisor.