Selling your restaurant or bar is a stressful process requiring focus and time to make sure you get top dollar for your restaurant or bar.
Here are some of the typical questions and answers a restaurant or bar owner would ask:
1. Does it cost me anything to sell my restaurant or bar?
We charge no fees unless we sell your restaurant or bar. You'll have escrow fees which can range from $500 to $2,500 depending on what state you're business is located.
2. How long will it take to sell my restaurant or bar?
This depends on a number of factors:
Your location - rural areas take longer than urban areas.
Your pricing - The closer you are to our suggested pricing, the shorter the time to sell.
Your documentation - The better the documented income, the shorter the time to sell.
How Well Your Business Is Packaged For Sale - We do all the thorough investigation of your business so we’re prepared when a buyer calls us.
3. What’s the value of my restaurant or bar?
The value of your restaurant or bar depends on a number of factors:
Your location - urban restaurants command a higher price than rural restaurants. Great traffic locations command a higher price than destination locations.
Your documentation - the cleaner your financials, the higher your price.
Condition of your restaurant and equipment - the better the condition, the higher the price.
The lease - the longer the lease, the higher the price and the lower the rent compared to market, the higher the price.
All these factors play into the well trained restaurant broker’s analysis to determine how to price you restaurant.
4. Do you have any buyers?
Selling Restaurants has more than 60,000 buyers registered on our website looking to buy a restaurant. When we start to sell your restaurant, it is likely one of those buyers will buy your business.
5. How do I keep the sale confidential?
We at Selling Restaurants understand how to market a business confidentially. Our ads are written in a way that one can’t determine who’s being sold. All buyers must sign a confidential agreement before any confidential information is made available. Then we talk to any interested party and qualify them before we talk about your business.
6. What do I need to get started?
We'll need 3 years of tax returns, three years of profit and loss statements, the lease if you don't own the property and an equipment list. These documents help us place a value on your business.