What costs come with selling a restaurant?

A sale does not end the day you accept an offer. Several costs arrive before and after, and they are particular to a restaurant. Make a list early and ask each adviser what they expect to charge. Having the whole picture before you list lets you plan your own cash and avoid surprises at closing.

Getting the restaurant ready

Buyers notice a worn kitchen. Plan for repairs, servicing the main equipment, a deep clean and fixing anything an inspector would raise. If equipment is leased, ask the lessor what ending or moving the lease costs. Decide what stays and what you take, and write it down. Do these before buyers visit.

Lease, deposits and gift cards

The landlord may charge for reviewing a new tenant and may ask for the premises to be left in a set condition. Ask your lawyer what the lease requires. Find out what you owe customers for gift cards and deposits for upcoming events, and how the buyer will take those on. Settle these points in the sale terms, not after closing.

People and advisers

If staff leave at closing, ask your lawyer and accountant what you owe them. Add professional fees for the sale itself, including a broker if you use one, a lawyer and an accountant. Our page on what it costs to sell a business covers the general side, and a handover plan helps with the weeks that follow the sale.