Restaurant For Sale? Make Your Broker Answer These Questions

Posted by Eric Gagnon on May 23, 2010 3:54:00 PM

Restaurant for Sale?  The restaurant brokers at We Sell Restaurants answer the questions any seller should ask before listing their restaurant on the Dishing with Donna Radio Show.  The key questions include:  How long have you been a restaurant broker?

The correct answer here is someone who has a track record.  You do not want to work with a residential agent or someone that sells dry cleaners or convenience stores that is “just learning” the restaurant business.  

What was your business background before you began selling restaurants?   Look for someone with a financial background.  Individuals that come from banking, accounting, franchise restaurant business or the restaurant business are good fits for restaurant brokerage.  If someone’s walking your kitchen and doesn’t know what a hood is, do you really want them talking to potential buyers about the place?  

What is your education?  Are you licensed?  If so, by whom?  Almost no states require a business brokerage license but Georgia requires a valid real estate license.  Always ask if he or she will “co-broker” or cooperate with other Brokers on your listing.   Carefully consider if a broker tells you he does not co-broker. 

Can you give me the name of three restaurants you’ve sold in the past three months?  Listing is easy.  Getting the job done and selling restaurants is a bit tougher.

Last but not least - Why should I use your restaurant brokerage services?

Topics: Restaurant Brokers

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