It sounds so simple, doesn’t it? Just place an ad in the paper, Craigslist or a website and whamo, a buyer appears!
As brokers, we hear horror stories from business owners who have tried just that! Most stories go something like this: “I placed an ad in the local newspaper or on a website and got plenty of phone calls, but they were all tire-kickers looking for a deal. And they'd call my business during working hours! I was so frustrated with the process. I would spend hours talking to this buyer and showing the business, only to have the person disappear on me. Or worse yet, they'd make a ridiculous offer and often didn't have the money to buy my business! All this effort wasted after spending $500 on a two-week newsprint ad and an internet ad.”
Some Sellers do find buyers and make deals. That’s when all the questions pop-up: Did I get the highest possible price? How did I price my business? How do I qualify the buyer? What contracts do I need? How do I protect myself from unscrupulous buyers who sue for any reason? If I carry a note, how do I secure it? What escrow company do I use? How do I setup the deal for success with the landlord, who is always the deal-killer? How do I get an SBA Loan for the sale and setup my business for an SBA loan? How do I start the liquor license transfer? How do I get the deal closed? When do I hand over the keys to my business? These are all great questions that only an experienced and professional business brokers can navigate you through.
If you’ve tried to sell your business on your own, and have been frustrated with the results, give one of our agents a call to find out how we make the process simple for you while we get you top-dollar for your business and do it in a professional and confidential manner.
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.