How to Sell a Restaurant Business in London

Londoners are food lovers and their demand of variety of cuisines has increased restaurant business in British capital. Still there might be some reason that can force you to take hard decision of selling your running food business. However, if you have decided to sell your restaurant in British capital, you should not rely on guesswork because it is the business to which you have dedicated your time and money. You should select proper channel and careful steps that will make you able to get the best rate in quick time. Here is a step by step guide for selling a restaurant business in London.

Instructions

  • 1

    Valuation of Restaurant Business


    You cannot make a demand to any client without knowing the exact value of your business because it may put in loss. You need to get the accurate value of your business before you can put it on sale. To get the value of your business, you can contact business valuator in London. Some top-ranked valuating agencies.


    (a) John D Wood & Co


    (b) Castles Estate Agents


    (c) BUNCH & DUKE

  • 2

    Contact Business Brokers


    Now, you know the real value of business. Next step is to put it on sale. There are many methods one of which is to contact a business broker who will put it on sale on your behalf. He many contact existing parties to put your demand. It is also an easy way to handle all the legal things that arise while selling a business. Here are some business brokers in London.


    (a) Sunbelt Business Brokers


    (b) Horizon Business Agents


    (c) Abacus Business Sales

  • 3

    Online Business Portal Advertisement


    If you do not want to sell your business through business broker, you may put your business on sale on many online business markets. There are many websites that provide you an opportunity to put your business on sale free of charge. In this way, the client will contact you directly. However, when you post an advertisement on business portal, you should mention the particulars of your business like square feet, accessories, location, parking facility near location, transportation etc. Here are some online business portals where you can post your advertisement.


    (a) Business for sale


    (b) Nationwide Business


    (c) Biz Sale


    While putting your business online, you should write details because many buyers always like to know the history and current situation of the business.


    a) Construction year
    b) Current seller has the possession of the property
    c) Current vendor has built an excellent reputation with local area people and visitors
    d) As a result of good repute repeat clientele is observed

  • 4

    Print Advertisement


    Another popular way to put your business on sale is print advertising. You can give an advertisment in newspapers and magazines. To publish an ad in a newspaper you will have to contact an advertising agency which will design and manage a spot for you in your desired newspaper. Below are some of the most read Newspapers in London.


    1. Telegraph


    2. Daily Star


    3. The Guardian


    Here are advertising agencies that can help you in getting your advertisement prepare and publish in Newspapers.


    (a) T4 Media Ltd


    (b) Leagas Delaney Ltd


    (c) Saatchi & Saatchi

  • 5

    Check out the deal


    Once you have published an advertisement, you will be contacted by several potential clients.  Many will come up with their plan to see your restaurant business. Make sure you have clean look of your restaurant during selling days. Once you get offers, you need to asses the best offer before you proceed further. You aim should be to get the maximum profit out of your deal.

  • 6

    Negotiate the Deal


    Now, you will negotiate the deal with the serious clients. Clients will ask you about the current condition of the business. Make sure to provide all the positive aspect related to you restaurant. Then negotiate the condiitons of the deal. You need to make a decision cheking your own position because client may ask you for installement or other payment options.

  • 7

    Hire Solicitor for legal documentation


    Once the deal has been finalised you need to hire a business solicitor who will document the clauses of the contract. It also help you sell you to avoid any complications that may arise in the future. Here are some of the business lawyers in London.


    (a) Gillhams Solicitors & Lawyers


    (b) RLegal Solicitors


    (c) MS Legal

  • 8

    Transfer Ownership.


    Now it is a time to transfer the ownership rights of business to buyer. Once you sign the deal and payment has been made to you, then the final step is to transfer ownership to buyer's name.

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