How can I sell my restaurant faster?
Have your books and point-of-sale reports ready before you list, keep the kitchen in working order, talk to your landlord about the lease early, tell your staff what you can, and prepare a clear equipment list. A buyer who finds answers quickly can decide quickly.
Restaurants sell slowly when buyers cannot get answers. Most delays come from missing records, an unclear lease or a kitchen that needs work. Your readiness is the part you control. Start the preparation before you tell anyone the restaurant is for sale. Time spent on records and repairs now can mean fewer delays once a buyer is interested.
Get the records ready
Gather your financial statements, point-of-sale reports, supplier lists and payroll summaries into one place. Ask your accountant to confirm that sales in the reports match the books. Clear records speed up a buyer’s due diligence, because questions about sales, costs and equipment can be answered from the files instead of from memory. If something looks odd, such as a slow month, write a short honest explanation and have it ready.
Make the room and the kitchen ready
Fix what is broken, deep clean and service the main equipment. Buyers walk through, and a tired kitchen makes them wonder what else was left undone. Write a list of what is owned, leased or financed, with a note on condition. Keep service steady while you sell, so buyers can see the restaurant trading normally.
Sort out the lease and the people
Read your lease early, and ask your lawyer and the landlord how a new tenant would be approved. Decide when and how you will tell staff and suppliers. Our page on selling a business quickly covers timing in general, and a tidy handover plan helps once an offer arrives.
Related reading
15 pages on the same subject, grouped by topic.
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- Expert answerCan I sell my restaurant myself, without a broker?
- Expert answerHow do I sell my restaurant if I am also the head chef?
- Expert answerHow do I sell an Indian restaurant?
- Expert answerHow do I sell a Chinese restaurant?
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 02Canada Revenue AgencyGovernmentSelling a business
- 03Business Development Bank of CanadaGovernmentWhat are financial statements?
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