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
The closing day is a day of much anticipation for restaurant owners and restaurateurs alike. For sellers, it signifies the culmination of years of hard work, dedication, and passion. It's a moment ...
Listing Id:10449 Lease Term:5 (Expires Dece.. Monthly Rent$4000, Sq.ft.5000,
Listing Id:10370 Lease Term:Expires March 3.. Monthly Rent$3354, Sq.ft.1600,
Listing Id:10284 Lease Term:Expires October.. Monthly Rent$6200, Sq.ft.1100,
When it comes to buying or selling a restaurant, a successful transaction often hinges on having the right support and expertise by your side. At We Sell Restaurants, we take pride in our dedicated...
Listing Id:10273 Lease Term:expires April 3.. Monthly Rent$5800- Sq.ft.2000-
Listing Id:10269 Lease Term:10 yrs expires .. Monthly Rent$6327, Sq.ft.1800,
Listing Id:10267 Lease Term:Five years left Monthly Rent$8800, Sq.ft.2047,
Every restaurant carries its own story, from the inspired vision of its inception to the passionate patrons it serves daily. But sometimes, the most exhilarating chapters are those of transition...
Listing Id:10243 Lease Term:expires January.. Monthly Rent$2354.68, Sq.ft.1300,
Listing Id:10233 Lease Term:Expires Septemb.. Monthly Rent$6337, Sq.ft.1660,
Listing Id:10199 Lease Term:June 2025 Monthly Rent$1100, Sq.ft.900,
Last year was an extraordinary one for We Sell Restaurants as our dedicated team of restaurant brokers achieved a remarkable feat by selling more restaurants in a single year than ever before...
Listing Id:10179 Lease Term:expired June 20.. Monthly Rent$3140.49, Sq.ft.1176,
Listing Id:10134 Lease Term:Expires 2028 + .. Monthly Rent$4409.10- Sq.ft.1180-
Listing Id:10126 Lease Term:expires August .. Monthly Rent$1600, Sq.ft.3000,
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:10121 Lease Term:Expires on Apri.. Monthly Rent$2197, Sq.ft.850,
Listing Id:10103 Lease Term:1 year Monthly Rent$8700.00, Sq.ft.2200,
Listing Id:10095 Lease Term:4 years Monthly Rent$7100, Sq.ft.4400,
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:10093 Lease Term:Expires April 2.. Monthly Rent$3746.82, Sq.ft.1191,
Listing Id:10078 Lease Term:January 2024 Monthly Rent$1700, Sq.ft.850,
Listing Id:10071 Lease Term:4 years Monthly Rent$7349, Sq.ft.1879,
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:10038 Lease Term:Expires 8/31/20.. Monthly Rent$5100, Sq.ft.2300,
Listing Id:10029 Lease Term:Expires 06/15/2.. Monthly Rent$4104.98, Sq.ft.3000,
Listing Id:10018 Lease Term:4 years Monthly Rent$6518.77, Sq.ft.1800,
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:10005 Lease Term:3 year lease Monthly Rent$3814, Sq.ft.1700,
Listing Id:10001 Lease Term:June 2024 Monthly Rent$3646.24, Sq.ft.1000,
Listing Id:9999 Lease Term:66 months Expir.. Monthly Rent$1782.87, Sq.ft.954,
Listing Id:9982 Lease Term:Expires June 20.. Monthly Rent$5287.33, Sq.ft.2800,
Listing Id:9951 Lease Term:1.5 years Monthly Rent$2780, Sq.ft.1650,
Listing Id:9936 Lease Term:N/A Monthly Rent$N/A, Sq.ft.5000,
Listing Id:9935 Lease Term:Expires May 202.. Monthly Rent$3640, Sq.ft.2500,
Listing Id:9930 Lease Term:Expires Septemb.. Monthly Rent$6403- Sq.ft.1640-
Listing Id:9926 Lease Term:thru May 1, 203.. Monthly Rent$12534, Sq.ft.3272,
Listing Id:9923 Lease Term:5 years Monthly Rent$3800, Sq.ft.1670,
Listing Id:9899 Lease Term:2023 Monthly Rent$1178.84, Sq.ft.112,
Listing Id:9897 Lease Term:Expires April 2.. Monthly Rent$2449.50, Sq.ft.1800,
Listing Id:9886 Lease Term:5 years Monthly Rent$4000, Sq.ft.3000,
Listing Id:9878 Lease Term:expires April 3.. Monthly Rent$3465, Sq.ft.1450,
Listing Id:9870 Lease Term:Expires April 2.. Monthly Rent$11180 includes .. Sq.ft.3900-
Listing Id:9852 Lease Term:10 Years expiri.. Monthly Rent$5940.67, Sq.ft.1876,
Listing Id:9850 Lease Term:TBD Monthly Rent$3200, Sq.ft.900,
Listing Id:9842 Lease Term:Remainder of 5 .. Monthly Rent$3150- Sq.ft.2500-
Listing Id:9839 Lease Term:through April 2.. Monthly Rent$9000, Sq.ft.2000,
Listing Id:9838 Lease Term:April 2024 + (.. Monthly Rent$4000.00, Sq.ft.2650,
Listing Id:9836 Lease Term:NA Monthly Rent$2841, Sq.ft.1500,
Listing Id:9830 Lease Term:3 years; expire.. Monthly Rent$5200.00, Sq.ft.5460,
Listing Id:9827 Lease Term:April 2032 Monthly Rent$8541, Sq.ft.2200,
Listing Id:9826 Lease Term:1 year left on .. Monthly Rent$5982, Sq.ft.4400,
Listing Id:9825 Lease Term:Expires in 2025.. Monthly Rent$1600, Sq.ft.1375,
Listing Id:9823 Lease Term:Negotiable Monthly Rent$2000, Sq.ft.900,
Listing Id:9818 Lease Term:expires March 3.. Monthly Rent$4200, Sq.ft.1200,
Listing Id:9811 Lease Term:Expires 2026 wi.. Monthly Rent$5100, Sq.ft.1500,
Listing Id:9777 Lease Term:5 years Monthly Rent$2950, Sq.ft.1200,