How can you increase the value of your restaurant before selling?

Increasing the value of your restaurant before selling involves several strategic steps. Firstly, focus on improving the overall profitability of the business by optimizing operational efficiency and reducing unnecessary expenses. Enhance the quality of your menu offerings, service standards, and ambiance to attract more customers and generate higher revenues. Additionally, invest in marketing efforts to boost brand awareness and attract potential buyers. Finally, ensure that your financial records are well-organized and transparent, providing potential buyers with confidence in the business's financial health and potential for growth.

You need unimpeachable financials. YOU CAN'T SELL WHAT YOU CAN'T PROVE Sales volume is Sales Net of sales tax Don't play the game of trying to goose the figures by dividing your Cost of Goods Sold by Gross sales inclusive of Sales Tax. Anything you do to pay games, casts question on anything else you claim or present. In Short: Be Honest. Show your business, Warts & All.

Increasing the value of your restaurant before selling involves enhancing its financial performance, operational efficiency, and market appeal. This process aims to present the restaurant as a profitable, well-managed, and attractive investment to potential buyers.

Dining in a restaurant is a SENSUAL experience. How many of the five senses can you influence during a visit? What aromas greet the guest. No one has done that better than TJ Cinnamons. Does your restaurant small like French Fries and Fried Onions? Or is it a lovely mix of Roasts? Soundscape contributes to the experience as well. Walk into a Popeyes, and you hear the appropriate New Orleans Jazz. Are the light levels sufficient to read the menu without pulling out your phone's flashlight to determine what is being offered? Is the music loud enough to enhance the experience? Is it low enough that you can converse without screaming? Think of all five senses and make sure they all contribute to a memorable and congruent experience.

in one particular case, I suggested an operator go to his POS to determine how many of each item he was selling. He had 15 Pasta dishes - 17 Chicken Dishes - 23 appetizers ... well, you get the idea. As we went category by category, he found that at least 65% of his sales in each and every category came from the top selling 3 items. Having all the others on the menu contributed to complexity in producing a dish, overstocking inventory, and taking longer to produce. He wisely decided to limit his menu to the top three in each category, and then rotate the other items as 1 or 2 specials on his menu. His food came out faster and more consistently, with less waste. Such menu review was time well invested.

One operator only advertises in The Irish Echo. That readership is prominent in the Irish American community. As a result, his applicants were predominantly fine young Irish lasses. That is precisely what he wanted for his Irish Pub atmosphere. Another operator advertises for Help Wanted in Variety, the show business magazine. as a result he gets applicants that are outgoing and not too hard to look at. Most importantly, they are applicants who can follow a script. That is helpful in speaking with guests and getting the Suggestive Sell appropriately presented to the guests. Scripted servers can say what you want them to say. that assures the guests will be appropriately addressed.

Make sure your books are genuine and not cooked. Most restaurant never show their true profits. Speak to a financial adviser to show max profits and show you how to mitigate your tax bill. True profits will reflect in the good will of your business and yourself.