It sounds so simple, doesn’t it? Just place an ad in the paper to sell your restaurant, find a buyer for your business and close the deal. Simple, right!
As brokers, we hear the horror stories most restaurant owners experience when trying to sell their restaurant without using a broker. Most stories go something like this: “I placed an ad in the local newspaper or Craigslist and got plenty of phone calls, but they were all tire-kickers looking for a deal. And they called in the middle of lunch hour or dinner hour! I was so frustrated with the process...I would spend hours talking to a buyer and showing the business, only to have the person disappear on me or worse yet, get into contract and have them change the terms and price in the middle of the deal and when it came down to the wire, they walked on me. All this effort wasted after spending $500 on a two-week newsprint ad!”
Some Sellers do find buyers. But that’s when all the questions pop-up: How do I qualify the buyer? What contracts do I need? How do I protect myself from unscrupulous Buyers who sue for any reason? What escrow company do I use? How do I set up the deal for success with the landlord, who is always the deal-killer? How do I find financing for the deal and set up my business for a loan? How do I get the deal closed? What are the steps needed to close this deal? How do I handle multiple offers? Am I getting top-dollar for my restaurant?
If you’ve tried to sell your restaurant on your own, and have been frustrated with the results, give us a call to find out how we make the process simple for you while getting you top-dollar for your restaurant, bar or club and do it in a professional and confidential manner. Call us at 800-576-3615.
