Ready to put your restaurant on the market? There’s a long list of things you’ll need to think about, and marketing is one of them. When you’re trying to make a successful sale, you can’t simply wait for buyers to come calling. Instead, you need to help them see the value in your business. The good news is, there are steps you can take to ramp up buyer interest in your eatery—and bring you one step closer to getting your deal done.
Here are five tips you can use to market your restaurant effectively…
1) Figure out what makes it special
What makes your business attractive? Start with the obvious. If you have impressive sales numbers, a well-established name, and a loyal customer base, that’s all worth highlighting. But these aren’t the only factors worth considering.
Do you have a desirable (and hard to obtain) liquor license? Is your location in high demand—and, if so, is the lease less expensive than most others in the area? Knowing your restaurant’s major selling points will make it easier to convey its value to potential buyers.
2) Price it based on data
Accurately pricing your business is one of the keys to selling it successfully. It’s also a crucial part of the marketing process—because if the price isn’t right, you may not receive any inquiries.
There are a few different approaches to pricing. The right one will depend on several factors, such as whether your business is cash-flow positive, and the type of assets you plan to include in your sale. Working with a business broker can help ensure that you price your business appropriately.
3) Boost its visual appeal
Most homeowners know that when their property goes on the market, it needs to make a great first impression. Unfortunately, restaurant sellers don’t always put the same care into making their spaces shine.
You can improve the look of your eatery by ensuring that the assets you plan to include in your sale are in good condition. But don’t forget that the details matter, too. A broken tile or patch of stained drywall won’t exactly inspire confidence, so try to look at your space through a buyer’s eyes.
4) Use great photos
Your listing and any advertising you do should stand out. One of the easiest ways to make that happen is with photos that highlight the best features of your space.
Images are the first thing that will attract buyer attention, which is why it pays to invest in great ones. To increase your odds of getting more inquiries, opt for high-quality professional photography.
5) Think about copy
While a picture is worth a thousand words, copy matters too. Your listing description—and written ads, if you use them—should be short and sweet. Focus on your major selling points, as well as the basics. Don’t forget that unpolished spelling and grammar can be an instant turnoff!
Marketing a restaurant for sale shouldn’t be complicated. But all too often, it is. Fortunately, an agent who is a hospitality specialist will know how to set you up for success—from pricing to closing.
STILL FIGURING OUT HOW TO PREPARE A RESTAURANT FOR SALE? REACH OUT TO LEARN HOW WE CAN HELP SIMPLIFY THE PROCESS!