Selling a restaurant is a job for an experienced and professional team. That's why We Sell Restaurants sells more restaurants than anyone else. For two decades, this brand has developed the specific processes to attract hundreds of thousands of buyers and secure millions of dollars in transaction every single year.
The company has a global reach and maintains an inventory of restaurants for sale in nearly all 50 states. This provides the greatest possible exposure to buyers looking to purchase a restaurant. Our restaurant sellers tell us we are superstars with restaurant broker reviews like these.
Technology for Selling a Restaurant
If you're selling a restaurant, technology is an invaluable tool. Our online platform reaches most potential buyers, and social media is used to generate interest and spread the word. We also use technology to create an informative package about your restaurant, and our online listings help us reach the widest possible audience. With so many options available, it's important to consider how technology can best be used to sell your restaurant. By utilizing the right tools, we make the selling process easier and more efficient.
We provide access to up to the minute details when your business is listed for sale, providing statistics on how many people have viewed the listing, how many people are actively engaged and who has acknowledged confidentiality on the business and knows it is for sale. All this, while keep the name of the business out of the public domain unless the buyer is fully qualified.
Our proprietary back-office platform, the B.O.S.S. (Broker’s Operational and Sales System) tracks the buyer and seller journey. In addition, it stores and tracks all agreements, generates checklists for both buyers and sellers and uploads all changes to external listing sites.
Confidentiality When Selling a Restaurant
Confidentiality when selling a restaurant is a key concept that must be considered when selling a restaurant. We Sell Restaurants sets the standard nationwide for this business practice. Each buyer is contacted and asked to provide proof of funds in an amount that aligns with either the brand requirement or the seller's request before they are provided with a full 20-plus page full color package on the listing. For more information on the requirement for confidentiality agreements when selling a restaurant, read this article.
Building a Package for Selling a Restaurant
Creating a beautiful listing package is one reason our restaurant brokers sell more restaurants than anyone else. PERIOD. The industry leading Business Analysis Tool or BAT lists all of the following information for buyers which is key to their buying decision and critical for anyone looking to sell a restaurant. The elements of the We Sell Restaurants business analysis tool include:
- Review of confidentiality
- Restaurant Broker's bio complete with awards, background and experience
- A full written description of the restaurant for sale
- Income statement or profit and loss statement containing every expense for the business
- Written description of any add-backs applied to the listing
- Full restaurant information including:
- Lease terms
- Operating hours
- Key infrastructure like the grease trap
- Whether there is a liquor license
- Hood system
- Type of non-compete seller is willing to sign
- Whether it is a franchise business
- If a franchise, the rate of franchise fees and royalty expense
- The number of hours worked by the owner
- The owner's reason for sell
- Complete list of assets and equipment that transfer in the sale
- Comparative analysis discussion and key terms
- Industry comparisons
- Industry Key Metrics versus the actual restaurant for:
- Profit Margins
- Food Cost
- Labor Cost
- Occupancy Costs
- State specific data on jobs in the restaurant industry
- Description of Growth in the Restaurant Industry
- Photographs of the restaurant
- Definitions of key terms like:
- Discretionary Earnings
- Add Backs
- Net Sales
This important package becomes a sales tool that leads to more restaurants sold by We Sell Restaurants than any other firm in the nation.
Speaking to Buyers When Selling a Restaurant
No matter how well written the package, selling a restaurant requires customer interaction, an item where Certified Restaurant Brokers excel. We Sell Restaurants also commits to an unmatched standard to touch every single buyer inquiry a minimum of three times after their initial outreach with a program spanning three days. Our Certified Restaurant Brokers are mystery shopped to this standard to confirm they are meeting our expectations. It's no wonder that we sell more restaurants than anyone else with all this effort.
We draft full written agreements and move more deals to closing. We have lending resources, closing resources, legal resources and more to make your journey to sell your restaurant better and more efficient than any other broker's in the country.
What Does a Restaurant Broker Do to Sell Restaurants?
Here is a lengthy list of items associated with the work of a Restaurant Broker to get your deal to the closing table. Here is a list of the top ten things a Restaurant Broker Does to get your restaurant sold
How Do You Become a Certified Restaurant Broker?
- A Certified Restaurant Broker will Review financials and recast to lending standards to prepare an Opinion of Value for selling a restaurant
- Create ad copy using best practices for selling a restaurant designed to attract buyers
- Prepare a buyer’s package to present the listing to buyers
- Market the Business on National Websites & Respond to all Buyer Inquiries
- Qualify the buyer for the business and if needed, the franchise brand
- Work with the Buyer to Answer Questions and Arrange Buyer and Seller Meetings
- Prepare the Offer in the form of a Written Asset Purchase Agreement
- Introduce the Buyer to the Closing Attorney and Lending Resources for Selling a Restaurant
- Assist Buyers with All Lender, Landlord, and Franchise Applications & Forms
- Hold Weekly Calls with the buyers and Sellers and Closing Checklist
Certified Restaurant Brokers undergo the most extensive training in the nation, spending weeks in study before testing to attain the title, "Certified Restaurant Broker." Their studies include valuation skills, buyer studies, legal understanding of agreements, negotiations and much more. They are taught at our corporate headquarters in Central Florida.
Certified Restaurant Brokers offer a full evaluation of your business at absolutely no charge to the seller. Our Restaurant brokers understand the market, including the lending environment so they are up to date on selling prices and the multiple paid for restaurant sales.
Anyone considering selling their restaurants would be well served by connecting with the professional and only Certified Restaurant Brokers in the nation. for more information on selling your restaurant. Contact the Restaurant Brokers
at We Sell Restaurants to learn what your restaurant is worth in today's market.
What Does it cost to Sell Your Restaurant?
There are multiple ways to sell your restaurant including for sale by owner, using a residential real estate person, using a general business broker and ultimately, hiring a Certified Restaurant Broker. The cost of each varies along with the results that can ultimately be obtained. Ultimately, a Restaurant Broker that specializes will have access to the greatest buyer pool resulting in the quickest path to closing. The pros and cons of each approach along with detailed information the costs for selling a restaurant
are available in the article, “What Does it Cost to Sell Your Restaurant?”
What Mistakes Should You Avoid in Selling Your Restaurant?
There are five deadly mistakes when it comes to selling your restaurant
. The mistakes include:
- Choosing a Broker Based on the Cheapest Rate
- Pricing Above market
- Taking Your Eye Off the Ball
- Saying “No” to a Deal
- Going to Market Without Good Financial Data
To avoid falling victim to these deadly mistakes, prepare up front, perform due diligence on the broker and avoid pricing above the market as it will slow down the number of buyers and increase the time on the market.
Finding a Lender When Selling a Restaurant
Most reputable restaurant brokers will have lending sources ready to go for their business opportunities. This is critical since no all lenders are fans of the industry. In addition, they will recast the business and prequalify it’s ability to make it through the lending process, leaving the buyers to qualify separately.
A restaurant buyers qualify for
lending with the following items:
- SBA Form 1919
- Personal Background and Financial Statement from the Buyer
- Business Financial Statements from the Seller
- Three Years of Federal Tax Returns
- Interim Balance Sheet
- Interim Profit and Loss Statements
- Business Overview and History
The Restaurants Brokers review each item at length in the article, “Buying a restaurant with SBA Lending – What the Lender Needs
.” And this is where a good broker comes into their own. They know all about the ins and outs of lending on restaurants, so it's no wonder they're invaluable to someone going the SBA lending route.
The process may seem overwhelming at first but if you have someone who knows what they’re doing guiding your way then there will be nothing stopping success in its tracks.
If you are thinking of selling your restaurant, it’s important to do your research and understand the process. There are many factors to consider, such as finding a qualified broker, building a package that showcases your business in the best light possible, and negotiating with buyers. By following the advice in this article, you can make sure that you sell your restaurant for the best price possible and avoid common mistakes made by sellers. Ready to get started? Contact us today to speak with one of our certified restaurant brokers!
Contact the Restaurant Brokers
at We Sell Restaurants to learn what your restaurant is worth in today's market.
Restaurants Sold by We Sell Restaurants
Eric Gagnon of We Sell Restaurants brought his expertise as a Certified Restaurant Broker to the latest episode of the Business Exit Stories podcast by Marvin L. Storm.
Listing Id:9473 Lease Term:Expires Septemb.. Monthly Rent$1783, Sq.ft.1200,
Listing Id:9452 Lease Term:Expires March 3.. Monthly Rent$3195, Sq.ft.1600,
Listing Id:9400 Lease Term:Expires 2027 Monthly Rent$3383, Sq.ft.2900,
We Sell Restaurants, the nation’s largest restaurant broker, outpaced the national average with an astonishing 33% increase in closed deals. The 2021 BizBuySell Insight Report.
Listing Id:9363 Lease Term:expires March 3.. Monthly Rent$2875, Sq.ft.1500,
Listing Id:9345 Lease Term:, Expires 01/01.. Monthly Rent$2815, Sq.ft.1470,
Listing Id:9299 Lease Term:Expires Decembe.. Monthly Rent$1469, Sq.ft.1054,
The impressive statistic is 23 points higher than overall marketplace growth and reflects buyers’ confidence that they can rely on our guidance when buying or selling restaurants through advice from i
Listing Id:9286 Lease Term:remainder of cu.. Monthly Rent$$3700.00, Sq.ft.1000,
Listing Id:9269 Lease Term:expires August .. Monthly Rent$3640, Sq.ft.1225,
Listing Id:9268 Lease Term:Expires 2027 wi.. Monthly Rent$1485, Sq.ft.940,
If you are selling a restaurant, you may be wondering exactly why you need the services of a restaurant broker. After all, finding a buyer can’t be all that hard, right?
Listing Id:9261 Lease Term:Expires 2024 + .. Monthly Rent$10080, Sq.ft.4000,
Listing Id:9250 Lease Term:April 2028 Monthly Rent$7575, Sq.ft.1784,
Listing Id:9249 Lease Term:5 Monthly Rent$2326.70, Sq.ft.1200,
Listing Id:9242 Lease Term:Up for Renegati.. Monthly Rent$14619, Sq.ft.7200,
Listing Id:9228 Lease Term:Month to Month .. Monthly Rent$2635- Sq.ft.850-
Listing Id:9225 Lease Term:Expires Novembe.. Monthly Rent$3625, Sq.ft.1870,
Listing Id:9220 Lease Term:3 years Monthly Rent$4200, Sq.ft.2215,
Listing Id:9212 Lease Term:66 months Monthly Rent$1972, Sq.ft.1200,
Listing Id:9186 Lease Term:Expires Novembe.. Monthly Rent$4947.88, Sq.ft.1508,
Listing Id:9172 Lease Term:expires Februar.. Monthly Rent$1916.04, Sq.ft.1090,
Listing Id:9169 Lease Term:, 2029 Monthly Rent$5180, Sq.ft.5600,
Listing Id:9168 Lease Term:Sept 2024 Monthly Rent$1351.50, Sq.ft.470,
Listing Id:9164 Lease Term:Month to Month .. Monthly Rent$1712.74, Sq.ft.1000,
Listing Id:9151 Lease Term:5 Monthly Rent$4214.5, Sq.ft.1500,
Listing Id:9145 Lease Term:Expires 12/27 Monthly Rent$3000, Sq.ft.1500,
Listing Id:9140 Lease Term:Expires 2030 Monthly Rent$9550.84, Sq.ft.426,
Listing Id:9131 Lease Term:1 year remainin.. Monthly Rent$2700, Sq.ft.1200,
Listing Id:9127 Lease Term:Aug 2023 + (3) .. Monthly Rent$3000, Sq.ft.4950,
Listing Id:9122 Lease Term:Expires Decembe.. Monthly Rent$6495, Sq.ft.1828,
Listing Id:9113 Lease Term:Expires July 31.. Monthly Rent$8506, Sq.ft.1310,
Listing Id:9110 Lease Term:Expires Aug, 20.. Monthly Rent$6206,4239, Sq.ft.633,1992,
Listing Id:9093 Lease Term:Expires October.. Monthly Rent$5000, Sq.ft.3948,
Listing Id:9083 Lease Term:Expires 12/5/24 Monthly Rent$2912, Sq.ft.1508,
Listing Id:9081 Lease Term:5 Monthly Rent$$1300, Sq.ft.1500,
Listing Id:9059 Lease Term:Expires October.. Monthly Rent$6000, Sq.ft.4000,
Listing Id:9054 Lease Term:Expires Decembe.. Monthly Rent$2250 - Sq.ft.1250-
Listing Id:9052 Lease Term:3 Monthly Rent$5094.38, Sq.ft.3280,
Listing Id:9051 Lease Term:expires October.. Monthly Rent$2900, Sq.ft.1000,
Listing Id:9050 Lease Term:expires January.. Monthly Rent$7218.58, Sq.ft.3500,
Listing Id:9039 Lease Term:1 Monthly Rent$8900, Sq.ft.2800 ,
Listing Id:9036 Lease Term:expires January.. Monthly Rent$9585, Sq.ft.6300,
Listing Id:9034 Lease Term:2 Monthly Rent$3979.81 , Sq.ft.2094,
Listing Id:9031 Lease Term:5/20/2031 Monthly Rent$3527.00, Sq.ft.1550,
Listing Id:9028 Lease Term:N/A Monthly Rent$n/a, Sq.ft.n/a,
Listing Id:9025 Lease Term:March 2025 Monthly Rent$7000, Sq.ft.1494,
Listing Id:9021 Lease Term:7yr expires 10/.. Monthly Rent$15426-, Sq.ft.6275-,
Listing Id:9019 Lease Term:Expires January.. Monthly Rent$5092, Sq.ft.1200,
Listing Id:9013 Lease Term:expires August .. Monthly Rent$4231, Sq.ft.2700,
Listing Id:9011 Lease Term:April 2026 Monthly Rent$5900, Sq.ft.2800,
Listing Id:9002 Lease Term:Dec 2023 + (1) .. Monthly Rent$1882.00, Sq.ft.1440,
Listing Id:8995 Lease Term:5yr Monthly Rent$3539, Sq.ft.1000,