How do I sell a food court restaurant?

Selling a food court unit is not quite like selling a restaurant on its own street. A buyer is taking over a counter in a shared space, and the mall landlord has a say in who that buyer is. The sale goes more smoothly when you deal with the landlord and the paperwork first, before a buyer asks. Here is the usual order of work.

Talk to the landlord early

Read your lease for what it says about transfers, and find out how much term remains. A buyer will ask both questions on the first call. Contact the landlord’s office before you list, ask how it handles a change of tenant and what it will need from a buyer, and have your lawyer review the lease and any request you make. The kiosk sale page covers a similar step.

Franchisor approval, if you have one

If the unit is part of a franchise, check the franchise agreement for whether the franchisor must approve the buyer and for any steps and costs. Ask what its process involves before you speak to buyers. Our page on what grounds a franchisor can refuse a transfer explains what to expect.

Sales records and mall context

Pull together clean sales and expense records for several years, along with equipment lists, supplier terms and staff details. Add what you know about the mall: anchor stores, events, seasonal swings and changes among neighbouring tenants. A buyer will want to understand the traffic behind your sales, and your accountant can help you present the records clearly.

Keep the unit running while listed

Buyers visit, often unannounced, and they judge the counter by how it looks and runs. Keep to the mall’s hours, keep the staff steady and keep suppliers paid. Decide in advance how you will talk to staff and the mall about a possible sale, so word does not spread before you intend it to.