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How to Sell Your Restaurant Quickly

Nov 3, 2016
Article #355
Author: Mel Jones

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As a restaurant broker for 13 years, there certainly ways to sell your restaurant quickly. 

First, find a qualified restaurant broker in your area. You can do that via our website www.sellingrestaurants.com or is we don't have a broker in your area, go to BizBuysell.com and look for brokers who list a number of restaurants. But don't just stop there. Read their ads, look at the data. It is professional, or simply thrown together in a hurry?  Did he or she do their homework so when you read the ad, it entices you to want to buy the restaurant?  Just look for those broker who spend the time to get to know your business. Well written ads tells you the broker knows the business. 

Second, get you numbers in order such as tax returns, profit and loss statements, W-2's, equipment list and lease. A good broker will request these documents and will study them as well.  But not only that, they need to have a finance or accounting background to be qualified to dig into your numbers.  At SellingRestaurants, our CEO was a CFO of a Fortune 20 company.  He knows numbers!

Finally, get your restaurant staged by cleaning it, fixing torn or worn seats, replacing floor if needed, and washing down the kitchen. Treat this like a house.  No one will buy a place that looks like a dump. Make it shine!

There is a term in sales "sell the sizzle, not the steak."  That's what a good broker will do for you and if you're intimately involved in the process and cooperating with the broker, you ought to be able to sell your restaurant fast!

                                                                                                                                                                                                                                                      

Mel Jones is one of the premier restaurant brokers in the nation having published hundreds of articles on buying and selling a restaurant and bar business, selling thousands of restaurants in CA., WA and AZ and building one of the most copied business models in the brokerage industry.  Mel started SellingRestaurants in 2004 with the one simple concept, give the buyers the information they need to make intelligent buying decisions without being pestered by a broker or hiding information, prepare the business for market by researching key details that make or break deals and educate the buyer on the buying process to create an intelligent buyer.  Prior to SellingRestaurants, Mel was a Chief Financial Officer for Universal Music Group, the largest music company in the world.  There he participated in more than $11.5 billion of merger and acquisition transactions.  He also work for top companies such as Nestle Foods, USA. He hold a Bachelors in Business Administration Finance as well as attened Law School at Gonzaga University.  Give Mel a call at 480.274.7000 or e-mail him at [email protected] if you have any questions. 

 

 

 


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