For Sale By Owner
(FSBO) Issues
(FSBO) Issues
Selling your restaurant on your own is much tougher than you might think.
It sounds SOOO simple, doesn't it? Just place an ad in the local paper or on the Internet,
find a buyer and close the deal...and do it all in two weeks!
After having gone through unpleasant, costly experiences themselves, here are the key
questions former FSBO sellers recommend you know "inside-out".
Top 10 Q's to Ask Yourself BEFORE Selling Your Restaurant on Your Own
It sounds SOOO simple, doesn't it? Just place an ad in the local paper or on the Internet,
find a buyer and close the deal...and do it all in two weeks!
After having gone through unpleasant, costly experiences themselves, here are the key
questions former FSBO sellers recommend you know "inside-out".
Top 10 Q's to Ask Yourself BEFORE Selling Your Restaurant on Your Own
 | 1.WHAT IS MY BUSINESS WORTH?: How do I know if I'm asking too much, or | |
| if I'm leaving money on the table? Well, without a professional valuation, or the professional advice of an experienced broker...you don't. Click the link for more info on VALUATIONS | ||
| 2. HOW WILL I KEEP THE SALE CONFIDENTIAL? What would happen if your | |
| most regular customers found out that you were selling? What about your employees? Your long-term suppliers? Worse yet...your landlord? At MegaBite, our process minimizes the chances of anyone finding out about the sale before you are ready for them to know. | ||
| 3. HOW DO I SORT OUT THE "TIRE-KICKERS" FROM THE SERIOUS | |
| BUYERS?: Do you know what questions to ask them to sort out the wheat from the chaff? Do you know the typical questions a "tire-kicker" will ask? Call us, and we'll tell you. | ||
| 4. HOW DO I MAKE SURE THAT BUYERS HAVE ENOUGH MONEY BEFORE I | |
| SHARE ANY INFORMATION?: Many people who "don't have two nickles to rub together" are out there shopping for a restaurant. A lot of them, "look good, sound good, and smell good", but they're BROKE! How bad would it be to invest several months of due diligence in them only to have the deal collapse in the end because they were never qualified to own a business in the first place. | ||
| 5. WHAT FORMS AND CONTRACTS DO I NEED?: The right forms and | |
| contracts are critical. If they're too complex, buyers will panic and walk away. If they're too simplistic, you may be unnecessarily exposed. What are the key terms and conditions you need in your contracts and forms? | ||
| 6. HOW DO I MAKE SURE THAT BUYERS KEEP MY INFORMATION | |
| CONFIDENTIAL?: Moreover, when is the right time to release information? What do I give the buyer first? When do I give him the details? | ||
| 7. HOW DO I FIND THE FINANCING FOR THE DEAL?: Not only are there | |
| different kinds of lenders, there are also different types of financing for any restaurant deal. Changing any of the forms of financing can change the value of the deal in the eyes of both buyer and seller. | ||
| 8. HOW DO I PREPARE MY BUSINESS FOR SALE?: Do you know what buyers | |
| look for? Do you know the 3 Restaurant Deal Killers? What information will be critical to every buyer? | ||
| 9. HOW DO I GET THE DEAL CLOSED?: Do you know the steps? Do you know | |
| how/when to open escrow? Do you know what's required to prepare for the closing? What happens during the closing? | ||
| 10. HOW DO I DEAL WITH THE LANDLORD? Why won't my Landlord | |
| cooperate, and what can I do to get him on board with the sale? This is a tough one, but can be managed. |
MegaBite Restaurant Brokers
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| email us: CLICK HERE or send to: info@MegaBite-RB.com call us: 214-405-0385 |