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TO SELL

POINTS TO CONSIDER WHEN SELLING A HOSPITALITY BUSINESS

Confidential meeting

  • At a personal and confidential meeting we would take down the information for a Salient Data sheet .This gives us an overview of the business.

Review financials

  • Have your record keeping up-to-date and your financial statements in order. This is one of the first items that a potential purchaser will want to review.
  • We would review the most current financials together to get a feel for value (based on the income approach).

Other methods of valuation

  • We would discuss the other methods of arriving at a valuation (the replacement approach and the comparable approach).

Review Lease

  • We would review the highlights of the Lease to see how marketable the package would be to a potential purchaser.

Marketing Strategy

  • We would first approach our list of contacts in our data base who are looking for various types of facilities, whether they want liquor primary, food primary, coffee shops, nightclubs or fast food etc.
  • We would run “blind ads” in the “Business to Business” section of the Calgary Herald
  • Your facility would be placed on our website www.restaurants4sale.ca with no mention of name or address for reasons of confidentiality. This gives us a chance to qualify potential purchasers before we divulge the business that is for sale.
  • Our website gets over 400,000 hits a year. It is updated on a regular basis and is used as a resource for many people looking to buy a hospitality facility in Alberta.
  • Emails are answered within 24 hours of receipt, or sooner if possible

Non-competition clause

  • A Buyer would no doubt request a clause in the purchase contract to ensure that you are not going to open up a competing business within a certain proximity of distance from the subject facility and for a predetermined amount of time

Equipment Leases

  • In addition to having a copy of the Lease for your premises, you should also have available copies of any leases for equipment used in the business i.e. dishwasher, glass washers, POS systems etc.

Deferred Maintenance

  • Any obvious repairs to equipment, leaseholds or d├ęcor should be rectified before putting the business on the market

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