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How
to Get Your Restaurant, Bar or
Nightclub Ready For Sale
by
Steven D. Zimmerman,
Restaurant Realty Company
August 1999
The
following are suggestions on how to
help facilitate the sale of your
restaurant, bar and/or club:
1) Have a copy of your most current
health inspection report and make
sure that all of items that the
health department asked to be
corrected have been completed.
2) Remove all items from the
restaurant that are not included as
part of the sale i.e. any personal
wall hangings, computers, artifacts,
etc. If it is necessary to keep some
of these items in place until after
the close of escrow please make sure
that your equipment & fixtures list
to not include these items.
3) Bring the deferred maintenance up
to date prior to putting the
business on the market. When buyers
see items that need fixing then they
often wonder about the condition of
things they can’t see.
4) Have the following items ready
for a perspective buyer:
a)
current premises lease & other
leases the buyer will be
assuming
b) 2 years most current tax
returns
c) year-to-date income and
expense statement and balance
sheet
d) a list of the fixtures &
equipment that are included in
the sale
e) copies of all current
licenses - business, ABC, etc.
5)
Make sure the facility is clean
throughout. The cleanliness level of
the facility has a major impact on
the buyers initial impression which
will carry over on his/her thinking
in evaluating the entire facility.
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