Owning a restaurant franchise can be an incredibly profitable business venture. If you’ve invested in your business for years and financially gained more than you ever anticipated, you might have found yourself in a position where you’re ready to retire from restaurant ownership entirely. Or, perhaps a series of life circumstances have made you decide that it’s time to step away from owning your own business. Atlantic Business Brokerage can help you through the bittersweet process of listing your restaurant franchise for sale. Consider these three important steps before listing.
Consider an Exit Strategy for Your Restaurant Franchise
As a business owner, you’ll want to take into consideration how you plan to exit gracefully from restaurant ownership. Will you provide your current employees with the knowledge that you intend to sell your franchise? Do you need to leave the business as soon as possible, or do you have a couple of months to spare? Will you need to supplement your income with an additional franchise venture after parting ways with your restaurant? Plan your exit strategy accordingly, to keep your personal financial health (as well as your employees!) in an optimum position.
Prepare Your Restaurant Franchise Documents for Your Broker
You’ll want to make sure that you have all of the necessary documentation for your franchise in order prior to meeting with your broker. Our brokers at Atlantic Business Brokerage can help assist you with determining which documents you’ll need if you’re feeling uncertain. You’ll likely want to provide documentation of your franchises annual cash flow and revenue, as well.
Ensure Your Restaurant Franchise is in Tip-Top Condition
Lastly, you’ll want to ensure your restaurant franchise is in tip-top condition prior to contacting Atlantic Business Brokerage to list your franchise for sale. Whether you have broken kitchen equipment that needs to be repaired or you need a fresh coat of paint by the entryway, it’s best to ensure your restaurant is looking sell-worthy prior to placing it for sale. Then, contact Atlantic Business Brokerage to get your restaurant franchise listed!
Sell With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match. Contact us to discuss your business buying and selling goals today at 410-561-9800 or Toll-Free at 800-279-7569. Email us at [email protected], and follow us online on Facebook and LinkedIn.