Should I sell my restaurant through a broker who specialises in restaurants?

Selling a restaurant is not quite like selling an office or a shop. The premises are open to the public, the staff are close to the owner, and the lease usually matters as much as the kitchen. Some brokers work mostly in hospitality, and others handle every kind of small business. Either can serve you well, so the question is what fits your sale.

What restaurant experience can change

A hospitality-focused broker may already know buyers who are looking for restaurants, such as operators, chefs and investors. They may also be used to the landlord conversation, any franchisor approval, and showing a business without alarming staff or guests. These are practical advantages, not guarantees, and a generalist may offer them too.

Confidentiality in a busy room

Word travels fast when staff, suppliers and regulars hear that a restaurant is for sale. Ask how the broker handles confidentiality: how buyers are screened, when they sign an agreement, and how viewings happen after closing time. Our answer on choosing a business broker covers the wider interview.

Questions to ask in the interview

• Which restaurants have you sold recently, and what happened at the landlord stage?
• How do you find and screen buyers?
• How will you protect staff and guests from rumours?
• What does your listing agreement require of me, and for how long?

Compare the answers, ask for references from past clients, and read the listing agreement with your lawyer before you sign. Brokers are partners in a sale, and a good fit is partly a matter of how well you communicate.