Tim Watt and Kelly Grimes Discuss the Five Crucial Steps in Preparing for a Restaurant Sale in Restaurant Hospitality

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In an article published by restaurant-hospitality.com on Aug. 3, 2016, Tim Watt and Kelly Grimes provide insight on the crucial steps when preparing to sell a restaurant. “When you’re preparing to sell a restaurant, there are a number of ways to make your business more appealing to potential buyers, ranging from cosmetic updates and repairs to improving the quality of the financial records you will provide to prospective buyers,” explain Watt and Grimes. In addition, there are also many financial and federal tax issues a restaurant seller should consider to prepare for a successful sale process. Watt and Grimes outline the five key steps, including:

1.) Get your accounting house in order
2.) Protect confidential information
3.) Do due diligence;
4.) Seek professional advice
5.) Calculate your profit and taxes

Click here to read the full article. 

For more information on buying or selling a restaurant, or for any hospitality questions, please contact Tim Watt or Cory Bennett by calling 770.396.2200.

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