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 & other leases the buyer will be assuming
- b) 2 years most current tax returns
- c) year-to-date income and expense statement and balance sheet
- d) a list of the fixtures & equipment that are included in the sale
- e) 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.