Today I'm reminded how critical it is to prepare your restaurant for a buyer's inspection. There are few things more critical during the early stages of a deal than making your restaurant shine and giving the buyer a great impression of what they are buying.
For example, we're in the early stages of a large restaurant deal. The buyer scheduled the walk through the restaurant to take a look mainly at the kitchen. The owner had plenty of notice about the walk throgh to order a clean-up. Now keep in mind this is a high volume restaurant with lots of profit so the owner has no excuse for dirt and mess. The restaurant should look like an operating room!
Well, it turns into a fiasco because the kitchen was a filthy mess! We walk the buyer through the kitchen and we're all in amazement. Grime on the refrigorator doors. Dirty floods. Grease on the floors along with food. What a mess.
But it reminds me that the best way to lose a buyer is to have him or her walk through a filthy mess!
So clean your restaurant's kitchen before a buyer walks through. It can make and break a deal!
We at SellingRestaurants feel obligated to educate the public, our customers and our clients with information that can help them make more intelligent buying and selling decisions.
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.