After years of serving Texas diners, you have decided to sell your restaurant. No matter if this is your first time selling a restaurant or your fourth, it is a good idea to review tips for getting the best price.
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Ensure that your restaurant looks ready to sell
When you look at your restaurant in its current condition, ask yourself if interested parties would want to make an offer based on the property’s current appearance alone. Spruce up the landscaping, maintain the parking lot and equipment, and deep clean the inside of the restaurant to set the right tone for buyers.
Get your finances ready
Interested buyers will more than likely want to know how financially successful your restaurant is. Hopefully, you did a good job of bookkeeping and overall financial performance. Work with an accountant to create a profit and loss statement and any other financial records you need to show what kind of return on investment buyers can expect.
You do not want to find yourself unprepared when an interested party wants to stop by to see your restaurant. The moment you list your establishment for sale, keep the interior and exterior looking their absolute best at all times. Also, bear in mind that any guest who sets foot inside your restaurant could be a potential buyer or someone conducting research for a buyer. Be sure you alert your staff to the possibility of interested parties dropping in at any time.