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California's Largest Restaurant Brokerage - Specializing in Sales, Acquisitions & Leasing of Restaurants, Bars, Clubs & Related Commercial Buildings

What You Should Do To Get Your Restaurant, Bar Or Club Ready For Sale

By in 1999 - Volume 1 with 0 Comments

The following are suggestions on how to help facilitate the sale of your restaurant, bar and/or club:

1) Have a copy of your most current health inspection report and make sure that all of items that the health department asked to be corrected have been completed.

2) Remove all items from the restaurant that are not included as part of the sale i.e. any personal wall hangings, computers, artifacts, etc. If it is necessary to keep some of these items in place until after the close of escrow please make sure that your equipment & fixtures list to not include these items.

3) Bring the deferred maintenance up to date prior to putting the business on the market. When buyers see items that need fixing then they often wonder about the condition of things they can’t see.

4) Have the following items ready for a perspective buyer:

a.) current premises lease and any other leases the buyer will be assuming,

b.) two years most current tax returns, year-to-date income and expense statement and balance sheet,

c.) a list of the fixtures and equipment that are included as part of the sale and

d.) copies of all current licenses – business, ABC, etc.

5) Make sure the facility is clean throughout. The cleanliness level of the facility has a major impact on the buyers initial impression which will carry over on his/her thinking in evaluating the entire facility.

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About The Author
Steven Zimmerman, CBI, M&AMI, CBB, FIBBA

Steve is the Founder, Principal Broker and Chief Executive Officer of Restaurant Realty Company. Steve has personally sold/leased over 1000 restaurant, bar or club businesses, sold many commercial buildings and completed over 3,000 restaurant valuations since 1996. His real estate experience also includes sales, acquisitions, management and ownership of numerous properties throughout California including restaurants, hotels, apartment buildings, single family houses, an office building and a multi-use retail building. Steve is also the author of Restaurant Dealmaker – An Insider’s Trade Secrets for Buying a Restaurant, Bar or Club available on Amazon. Prior to starting Restaurant Realty Company Steve had over 20 years of restaurant experience and was President and Chief Executive officer of Zim’s Restaurants, which was one of the largest privately owned restaurant chains in the San Francisco Bay Area. READ FULL BIO | HIRE EXPERT WITNESS - LEARN MORE