5 Useful Tips to Sell an Italian Restaurant

Article updated on November 13, 2019.

After growing your business over the years, you’re finally ready to cash in on your hard work by selling your Italian restaurant.

Whether you’re seeking new business opportunities or looking to retire to a new pace of life, it’s best to confront the selling process with as much preparation as possible.

There are lots of decisions to be made, but with the proper planning and guidance, you can successfully sell your Italian restaurant quickly and receive an optimal price, too.

How to Sell an Italian Restaurant

It’s no secret the restaurant industry is constantly growing. In fact, the industry experienced 0.4 percent growth over the past five years. From pizza to pasta, Italian food ranks highly on restaurant goers’ favorite cuisines making the Italian restaurant industry in the United States worth $209 billion as of 2023.

Keep the following tips in mind from Sunbelt Business Brokers to learn how to sell an Italian restaurant.

1. Develop Your Exit Strategy

One of the first steps you’ll need to take in selling your authentic Italian restaurant is deciding how you will exit the business.

Use the following questions to help you craft your exit plan. Remember that potential Italian restaurant buyers will look for signs of assurance that the restaurant will continue to flourish even without your involvement in the business.

• When will you exit the business? Develop a clear timeline of how long you will remain involved.
• Are your retirement plans dependent on the sale of the Italian restaurant?
• Is the current staff included in the sale? Does paperwork need to be compiled to ensure job security when the new owner takes over?
• How will the transfer of ownership take place?

While these questions are a great place to start, it’s important to answer as many questions as you can think of before beginning the sale. A well thought-out exit strategy can make or break a deal.

2. Get Your Paperwork in Order

Once you’ve planned how you will exit your Italian restaurant, you begin preparing your paperwork and organizing important documents. Most serious buyers will want to see proof of everything from tax statements and inventory to contracts and leases. If you don’t own the real estate, be sure to review your lease agreement to ensure the lease is transferable to a new owner.

It’s likely you’ll encounter a significant amount of paperwork, so don’t hesitate to contact an accountant or lawyer for help sorting through your records.

3. Prepare Your Business

Before you list your Italian restaurant for sale, make sure your business is in tip-top shape and ready to sell. Take this time to analyze any flaws or potential problems with your restaurant and develop a plan to fix these issues. Be sure to assess your daily operations, marketing strategy, pricing and facility and address any and all problems before you list your business for sale.

While you’re analyzing your business, consider where opportunities exist to grow your business. Some ideas that may help increase the value of your restaurant:

• Adding an outdoor patio and seating
• Bringing in live music
• Introducing new Italian dishes
• Creating a more streamlined process for take-out food
• Focusing on online presence and collecting great reviews
• Highlighting healthy options and appealing to patrons eating vegan, gluten free, etc.
• Opening up a private party room within your restaurant
• Offering catering services

Introducing some of these ideas into your Italian eatery will appeal to buyers, enabling you to expand and diversify your clientele base. A healthy clientele list will likely lead to more sales, which will help attract interested parties to your listing.

4. Determining Your Restaurant’s Value

Though you may have an idea of what your Italian eatery is worth, it’s always best to consult a professional for the most accurate valuation. It’s very common for an owner’s emotional attachment to cloud judgment when determining an accurate price. Contacting a third-party professional to obtain a formal business valuation is the best way to determine an equitable and impartial asking price.

In addition to avoiding biased valuations, there are also numerous approaches to calculating how much a business is worth. When it comes time to price your business, leaving the job to a professional is your safest bet.

5. Contact a Business Broker and List Your Italian Restaurant

Once you’ve completed the above steps, you’re ready to list your Italian restaurant or pizzeria for sale. If you’re listing your business for sale on your own, consider advertising it on popular websites or even invest in online marketing and advertising.

However, to ensure the smoothest business sale, it’s always best to hire a professional business broker. Certified business brokers not only have the experience and know-how to close a business deal, but they likely have connections to interested parties in their personal business network. Consulting the help of a business broker will allow you to focus on running your business while knowing your pending transaction is in good hands.

If you’re ready to list your Italian restaurant for sale, contact the experts at Sunbelt Business Brokers! Sunbelt is the place to go to buy or sell a business, and our brokers are ready to help today. To get started on your business goals, find a Sunbelt Business Brokers office near you.