Advantages of Using a Restaurant Broker
When the owner of a restaurant begins to think about selling their restaurant on their own, without a restaurant broker, the first place they typically go to is their vendors. This is like standing on the street corner and announcing to the world that your restaurant is for sale. It is remarkable how fast news travels to your staff and customers. You then run the risk of loosing your best trained staff and hard earned patrons. Owners are not in the position to control confidentiality. Only a broker specializing in restaurants knows the steps and paperwork necessary to spread the word confidentiality to interested buyers. The local real estate agent, who has been a good customer for many years, typically is unfamiliar with business brokerage and has no experience or fundamental knowledge on establishing the fair market value of a restaurant or the necessary steps to market the restaurant and maintain confidentiality.
Utilizing the services of a broker allows you to focus on running your business, thereby reducing the risk of business erosion during the sale process. It is also not unusual for a seller to be emotionally influenced during this process, which can sometimes put a good deal in jeopardy. A broker will allow you to focus on running your business and remove the emotion to help negotiate the best possible business deal for you. An experience restaurant broker knows how to establish the value of a restaurant and market it while maintaining strict confidentiality.
A sale facilitated by me will help maximize the selling price by involving a large consortium of buyers in a confidential and competitive bidding process. I am a specialist in selling restaurants, food service businesses and commercial properties. Call me now to confidentiality discuss your next purchase or sale. 917-715-4346