To sell your restaurant, you need to follow many of the steps that are used for other small businesses. For example, getting a clear picture on how much it is worth and making sure everything prepares well enough before selling. One thing about restaurants though – they require additional documentation from potential buyers because there can be certain things in operation at all times like food preparation or alcohol consumption during work hours etcetera which may not always happen with traditional companies so make sure these kind of documents get collected as well!
To prepare your business for sale, collect the following items:
A copy of your lease, including copies of any applicable licenses (liquor license, sidewalk patio permit) and health inspection records.
Copies of architectural plans for current property improvements or a detailed appraisal if you are buying an existing business that will not need additional work before opening.
These items should also include construction cost estimates so they can be factored into the total valuation formula. They must have been available during contract negotiations; otherwise it is crucial all these important financials documentations become accessible at this point in time once contracts have been signed off from both parties involved – namely yourself as well as landlord.
Your business broker will be able to help you organize your finances, licenses and inspection records in order to prepare for the sale of your restaurant. Once all these details are in place, it is time market yourself effectively by highlighting what makes your restaurant unique from its competitors: location, proximity to public transportation or views that make it stand out as well as outdoor space or other features. For example a potential buyer may want a waterfront view but most restaurants don’t have one on offer; this would set yours apart!
Are all of your licenses up-to-date and in compliance?
Do health inspection records reflect what you would want an interested buyer to see?
Does it appear that your finances are organized enough for a potential sale. Once you’re ready, I can help by marketing the restaurant properly. For instance, what makes this place uniquely good – its location (nearby public transportation), space outdoors or something else entirely?
The great thing about selling a restaurant is that you don’t have to do it alone. After introducing your business and scouting for potential buyers, we will introduce them to our network of vetted investors who are not only willing but qualified as well! You’ll follow the same steps as any small-business owner: negotiating then signing on the dotted line.