So, you’re thinking of selling your restaurant. As with everything else you ever sold, you’ll probably want the same things – price high as possible, hassle as little as possible.

Thankfully, there are some things you can do to improve the chances of selling your restaurant, at a great price.

Make your offer easy to understand

To use a culinary example – think of this as plating the food. It’s just like when chefs at your restaurant take great care in food presentation, plating the food in a way that makes it more enticing for customers. Only, instead of a tantalizing entrée or scrumptious main course, you’ll be preparing a sweet deal that is your restaurant.

If you’re serious about selling your restaurant above and beyond its asset value, potential buyers should be able to easily understand exactly what they are getting.

Here’s a checklist that will help you do just that:

  • Make a list of inventory and other assets such as equipment, fixtures and furniture. Remember to add the replacement cost to each item.
  • Create uncomplicated profit and loss statements for the last three years.
  • Make sure you have a way to prove cash sales. For instance you can use handwritten records on the side.
  • Put together a list of your cost of goods sold, and if possible, of your monthly food waste costs.
  • If you have employment contracts, get them organized for easy review.
  • List out any debt which will require settlement as part of the sale.

Write up your story

Selling a restaurant isn’t all about numbers. While you should and will spend considerable time on the due diligence, you can connect with ideal buyers by telling your story. So write up a story about your restaurant.

Talk about how and why you opened, bought (or inherited) the restaurant. Also mention the different opportunities available for the owner of the restaurant. You can even touch potential obstacles. Don’t forget to mention the reason why you are selling. It will be a good idea to include the ways in which you advertise to customers. Potential buyers will appreciate the insight you provide in your story.

You can also add some reviews from your customers. Buyers will get the feeling that happy customers are part of your restaurant story, making them more likely to continue the story.

Clean it up

Your loyal customers might not be deterred if your furniture is a tad bit run down. Potential buyers however, will use it as an excuse to cut your selling price. So make sure your tables, chairs and décor are in good shape. Kitchen and bathrooms should be spotless and clutter-free, and all equipment operational.

Moreover, your staff should be knowledgeable and courteous. A friendly and pleasant environment not only attracts customers, but potential buyers as well.

Review your lease

People looking to buy a restaurant will be wary of lease complications. Make sure you clearly lay out the expiration date of your lease. Also, note what extension options you have and whether there are any transfer clauses.

You may not be clear on these items yourself. So first get yourself up to speed regarding your lease, and then make the details presentable for the buyer.

Be positive

Under no circumstances should you try to appear flustered, especially in front of potential buyers. Sometimes external factors beyond your control can delay your sale. Just follow the action steps outlined above and maintain a positive attitude. The external factors can also sometimes turn things in your favor.

Market it Properly

You need a buyer to find your restaurant opportunity or nothing else matters. To market your restaurant, whether with or without a broker, adding your opportunity to the listings on needs to be part of the plan. It is the internet's only platform dedicated to helping people sell restaurants and is the best resource to help you achieve your goals. With no commission and no contracts and a low monthly rate of $49/month, selling your restaurant is now simplified. Enjoy your first 60 days free with Promo Code: 60Free (only for the first 100 listings). 

The bottom line is that you should have done your homework and be ready with an offer that’s attractive for the buyer in every way. Let us help you get started today with Restaurants for Sale Global.