Selling Your Restaurant
Selling your restaurant will probably be one of the most important endeavors you will undertake. The process of selling a restaurant is different for every restaurant as there are many different components involved in each stage of the selling process.
Confidentiality is the key to successfully selling your restaurant. If word gets out that the restaurant is up for sale, the staff walks out the back and the customers walk out the front! Your restaurant will be marketed & advertised for sale only in a confidential manner. Limited information is used when advertising your restaurant for sale: only information that will be useful in attracting potential buyers, but not reveal the identity.
We use many methods to market your restaurant, including connecting with our existing base of restaurant buyers, networking with other business brokers throughout Florida, networking with restaurant professionals and suppliers and using international contacts as well as internet, website and print advertising.
Pre-Qualify & Screen Buyers
Potential buyers are pre-qualified and are required to sign non-disclosures prior to the release of any sensitive information. We do not disclose the identity of any restaurant with anyone who has not signed a confidentiality agreement.
Determining A Fair Market Price
There are several value methods used to determine the sales price of a restaurant. Because each restaurant is unique, I look at various factors to determine a sale price. The analysis and pre-market preparation includes gathering all necessary information, consulting and walking you through the process of getting to a fair market value price.
Information on your restaurant will be compiled in different formats ready to be dispensed to qualified buyers at the appropriate stage of the buying / selling process.
Including but not limited to:
Copies of all contracts and legal documents
Lead Buyers Through The Process
We stay in constant contact with qualified buyers and help them through the process of buying a restaurant, an approach that benefits both sellers and buyers.
Building a relationship with the buyer allows us to better match buyers and sellers appropriately. It also helps makes the transaction go smoother and helps prevent contracts from falling apart due to misunderstandings and logistical concerns.
Negotiation Of Contract
The negotiation of the contract is a critical yet delicate time in the process of selling a restaurant. Sellers and Buyers are dealing from different perspectives and usually the one who is best prepared will have the most leverage when the process enters the negotiating stage. Price can be a difficult component to pin down and, therefore, it is for the buyer to assess.
Usually, businesses sell for a higher price when the economy is expanding, and for a much lower price during recessions. Motivation also plays an important factor. Keeping both parties focused on the ultimate goal and keeping the process smooth and addressing any problems that may arise.
Due Diligence Phase
During the due diligence period many potential sales of restaurants become unraveled. The best way to prevent jeopardizing the sale is with pre-planning and preparation in the early stage of listing in order to prevent surprises later.
Closing Prep, Closing & Beyond
I will be available after closing and transfer of ownership for any questions you may have.