WHEN CONFIDENTIALITY IS AN ISSUE

 

 

At a certain point when you’re having a baby, everybody knows…there’s no turning back. In the beginning you can deny that you’re pregnant and most people will believe you when you say that it’s only a rumor.

 

 

When you decide to sell your biggest asset (or your biggest liability), your restaurant, your decision has to be to place it in front of the greatest number of qualified buyers…those who’ve indicated that they are looking for what you’re selling, those financially capable of Closing a deal, those who have the experience to operate your place, and more importantly, those that are capable of making a decision.

 

This is a daunting task…but one that we’ve thrived on for over 26 years.

 

When you feel strongly that ‘confidentiality’ is a critical issue, the solutions are simple:

 

1.     Make sure that your asking price is ‘not just what you want’  but is a price that is justifiable…what is the real estate worth in TODAY’S market-not what it was worth three years ago at the height of the real estate boom (do you have a recent appraisal…what does the Town Assessor think its worth).

2.     What is the business worth? Only a restaurant specialist who deals with the market on a daily basis can tell you.

3.     At your asking price, will the buyer get excited? How long will it take for him to get his entire investment back) principal and interest)? After recovery of his annualized/amortized investment and being paid for his time working the business, it the net profit big enough to get excited?