Back to all

Selling Your Restaurant: A Checklist

When selling your restaurant, there are several actions you can take to make the process as smooth as possible. We have put together a checklist to make sure nothing is missed when you embark on this exciting next phase of your journey. 

 

Is everything up to date?

Make sure all your due diligence documents are up to date, including your premises licence, lease, rent and rates invoices, any planning permissions that were obtained, health and safety and fire safety certificate. Have a physical record of all of these to hand as a conscientious buyer will usually want evidence that all legal requirements and recommendations are in order.

 

Do you have all the necessary inventory paperwork?

Make sure you have the necessary evidence on the various equipment you own, or lease, as the fixtures, fittings and loose equipment can be a vital selling point for the restaurant. An extraction system alone can cost anything from £100,000 to £300,000. Make a point of noting both the cost and length of these, plus whether they can be assigned or not.

 

Have you consulted a restaurant property expert?

Buying and selling restaurants is a highly specialised field which relies on specific expertise, connections and experience. Make sure to enlist a specialist agency to help with the process and provide support as well as connecting you to the best buyers. This is especially important if the restaurant is still open and trading as an agent will have confidential marketing tools and operator-only marketing platforms

Related articles

Blog image
Posted 30/03/20

The Resilience of the Hospitality Industry

In the spirit of that togetherness, if you would like to chat, get anything off your chest or just share your thinking about what to do next, we are here to listen, support and advise. Call us on +44 (0)20 7935 2222 to have a chat with one of the team – now, more than ever, let’s keep talking.

Read more
Blog image
Posted 03/03/20

5 Unmissable Industry Events in 2020

The UK offers a plethora of brilliant annual events for those already part of the restaurant industry and anyone eager to learn more.

Read more
Blog image
Posted 03/03/20

The Role of Crowdfunding in Modern Restaurants

When you think of crowdfunding, you may think of tech startups, charitable causes or various small companies trying to get to the next level.

Read more