Thinking of selling your restaurant and unsure where to start? Here are the five best ways to sell your restaurant that will have you ready to go in no time.
First and foremost. Get your books in order.
Accounting is no one’s favorite task. If necessary, bring in help to get the books ready to go. Restaurants are sold on a multiple of cash flow. No matter how much you are doing in sales and no matter how great the business looks, the books and records are the key to getting the most money in the shortest amount of time.
Secondly: Interview Brokers
The number two item on the list of the best ways to sell a restaurant is to interview restaurant brokers. Have a series of questions ready to ask them to include things like: