There’s more to Vancouver than just being one of the cleanest and most livable cities in the world. There surely are little known facts about the city that make a huge impact on its culture and economy. For instance, did you know that 35 percent of the people living in Vancouver are foreign born? While that’s just a little over 1/3 of the population, it’s enough to diversify culture in the city, and when there’s too many different cultures in one location, odds are the market will be assorted, too.
A proof to the massive cultural diversity is the various kinds of restaurants riddling the city blocks. From legendary restaurants that serve timeless dishes to famous pubs that bring in new cuisines, you can find just about any kind of bistro you want to dine in if you scour the city properly. You can also tell by this fact that food service business is not going to lose its flavor anytime soon. Therefore, the chance of selling your restaurant remains big. However, presenting your restaurant for sale in Vancouver may require some caution.
Staging and Marketing
Like any other business for sale, your restaurant should look presentable before you have it listed. You need to prepare a clear inventory of furniture, equipment, and utensils and make sure all of them are functional and well-maintained. Spruce up your interior and, if possible, upgrade technology. The physical elements of your restaurant are the most visible aspect of your product so they must be in top shape.
Staging also includes records. It is a business you are selling and any buyer would like to make sure that the business really is lucrative like what you said in the promotion. To know this, they will look into your financial records, including tax returns and expense records, going back at least the last three years. This is also a way for your buyer to ensure that you are not passing on unsettled financial obligations.
The Business Broker
While you’re probably an experienced businessman, selling a commercial property can be totally out of your league. You might think that it’s just as easy as handing over the title and receiving the payment much like how you service food to your customers, but the truth is, it’s a lot more complicated than that. You need to know the ins and outs of the commercial property industry and use the trend to your advantage.
This is why it’s crucial to hire a reliable business broker when presenting restaurants for sale in Vancouver. A restaurant business broker who has an experience running a restaurant, such as Jean Seguin is more ideal.
– Dining in Victoria BC, WorldWeb.com
– 7 Common Mistakes People Make When Buying a Restaurant POS System, ToastTab.com