How to Sell a Restaurant Guidance:
Selling your restaurant can be a very emotional process. Do you want to sell because it is time to retire, or is it because after 10+ years you are tired of the long, hard hours? You may want to sell a restaurant because you no longer get along with your partner(s). Heavy new competition leading to a decrease in sales might be the motivating factor in selling your restaurant. Being straightforward and honest with a qualified restaurant broker is the best way to begin the selling process. Your lease and the last 2 years of tax returns are documents that you will need to share with a broker. A buyer will be looking for at least 10 years remaining on your lease. If you are unsure about signing a new lease then consult with me right away. There are options that you may not have considered. Cash sales are a natural part of any restaurant. Do not discuss your cash sales with anyone. Reporting all cash sales is the law and the best way to get the highest price for your restaurant.
A Seller Can Expect Us To:
Represent you
Establish a value of the business, and the real estate, if part of the sale
Prepare you for the sales process
Read your lease
Photograph your restaurant
Create a color brochure
Use strict confidentiality in marketing your restaurant
Expose your restaurant to our exclusive list of buyers and to hundreds of buyers through restaurant business related web sites
Meet every interested buyer at your restaurant for a walk through
Supervise negotiations to achieve the highest selling price
Recommend an attorney experienced in restaurant transactions, if necessary
Create a Letter of Intent outlining contract details for the attorneys
Inventory and record a detailed equipment list
Contact the landlord and their attorney
Keep the transaction moving
Supervise the walk through before the closing
Attend the closing
Write a Press Release to the local media
Call right now if you are interested in buying or selling a restaurant 917-715-4346