11 steps to selling a restaurant business
Steps for sellers:
Get in touch. We will set up a meeting in our offices to discuss your business, assist in determining a fair market value for it and how we can help you.
Compile your documents, such as leases, financials and your equipment list so that we can get your listing going.
Marketing. The fact that we are number one on google gives you access to the largest network of buyers and unbelievable online exposure. This gives you the best opportunity of selling your business.
Viewings. Don ́t worry, we ́ll make sure to set these at times that are convenient for you and make sure that there is no stuff or customers around.
Offers. This is where our hard work pays off and we present any offers that come in.
Negotiations. We ca n counter or accept at this point and we do our best to get you the most profitable transaction.
Accepted offer and due dilligence. This is when the buyer and their professional team will be requesting information and documents related to the business. This part of the deal can take 2-4 weeks.
Landlord negotiations. This is when the buyer presents their package to the landlord. This is often the most time consuming part of the deal.
Subject removal. Congratulations, the buyer is now happy to remove the subjects and the deal is considered firm and binding.
The next step is lawyeres. They handle the following
Completion and possession. This is when you get paid. The money will get transfered from the buyers lawyers trust account to your lawyers trust account and the deal is done.
Contact me if you have questions about this or anything else relating to your restaurant search!