Preparing Your Business for Sale with Robin Gagnon of We Sell Restaurants
Welcome to another exciting episode of Restauranttopia! In today’s episode, we dive deep into a topic that every restaurateur should be well-acquainted with: Preparing your restaurant for sale. We’re privileged to have Robin Gagnon, co-founder of “We Sell Restaurants”, with us to demystify the process. Whether you’re contemplating selling or merely want to be ready for the future, this episode is a goldmine of insights.
- What is an Exit Strategy?
- Robin defines an exit strategy as a planned approach to transitioning out of your business, either through selling, merging, or closing down. Having a strategy in place ensures you get the best possible outcome when you decide it’s time to step back.
- When to Start Preparing?
- Robin’s advice? Start now. It’s never too early to have a plan. The sooner you begin preparations, the more control you have over the sale conditions, maximizing the potential value of your restaurant.
- Understanding Restaurant Valuation
- A restaurant’s value isn’t just about its current revenue. Robin delves into the multiple factors that influence a restaurant’s worth, including location, brand reputation, customer loyalty, and more.
- Tools and metrics used in the valuation process to provide a clear picture of what your business is worth on the market.
- The Process of Listing and Selling
- From choosing the right time to list your restaurant to negotiating the final deal, Robin breaks down the steps involved.
- Tips on presenting your restaurant in the best light to attract potential buyers.
- Understanding the role of brokers and how they can ease the selling process.
- Critical Record Keeping Requirements
- Just like in any other business, keeping detailed and accurate records is essential. Robin highlights the kinds of records prospective buyers are most interested in and why.
- The importance of maintaining organized financial statements, licenses, lease agreements, employee contracts, and other pertinent documents.
Selling your restaurant can be an emotional journey. It’s more than just a business transaction; it’s parting with a place you’ve poured your heart and soul into. But with the right preparation and guidance, as provided by Robin in this episode, you can ensure your restaurant’s legacy continues and that you reap the rewards of your hard work.
A big thank you to Robin Gagnon for her invaluable insights. If you’re considering selling your restaurant or wish to understand the selling process better, be sure to check out “We Sell Restaurants” for expert advice and assistance.
Listen to the full episode for in-depth details, anecdotes, and more tips on preparing your restaurant for sale. As always, stay tuned for more enlightening episodes from Restauranttopia!
About Robin Gagnon of We Sell Restaurants
Co-Founder | We Sell Restaurants
Office: (404) 800-6700
Certified Restaurant Broker (CRB)
Certified Business Intermediary (CBI)
Certified Franchise Executive (CFE)
Restauranttopia is your go-to podcast for everything restaurant related. From operations to marketing, and everything in between, we bring experts from all corners of the restaurant world to share their insights, experiences, and tips to help you succeed in this dynamic industry.