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Property sale can be a daunting decision and a big job for restaurant owners. There are a lot of factors to consider before putting your restaurant on the market. First, you need to be clear on your reasons for selling. Changing economic conditions? Partnership disputes? Burnout? Or are you looking to sell to finance an even better business idea?
Once the decision is made make sure to begin upgrading your equipment within the realm of financial possibility. Try to set aside money for repairs and upgrades ahead of time so you have it when you need it. Next, you’ll need to get an appraisal. The building and equipment will be easier than the financials. You’ll need to financial documents to back up claims about profits.
How do you get the word out? Start with some discretion by using word of mouth with trusted friends, family and professional acquaintances. Of course, the internet offers a lot of options here too. Check out RestMart for a national network of buyers. There’s a lot to consider, but follow these tips for a successful property sale.