How do I sell a restaurant/privately-owned business?
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I am trying to help a family member sell their restaurant business. The property and the business are privately owned (not leased). The revenue on the business is not high, largely because this person has no thought how to run a business, nor has the energy to do so.
This person doesn’t want to list the property with an agent, and doesn’t have the budget to advertise it on online sites that charge.
Does anyone know of excellent, free resources where we can market this business opportunity to an entrepreneurial sort of person? We would want to market to both in- and out-of-state people. Again, listing it with a real estate agent is out of the question, unfortunately. :/
Thank you.
Clarification on the post:
One of the owners is a broker, but who doesn’t subscribe to the MLS. Therefore, as I mentioned in the question, there is no likelihood that this will be listed with another agent. Besides which, this property has been listed with agents (3 of them) before and, as is often common with listing agents, the agents sat on the property assuming that a buyer’s agent would sell it for them. Seller’s agents have access to the same information we do…which is comps on similar properties, newspapers, and venues of advertising. So, since using an agent is out, we’re now looking for some advice on marketing the property.
Thanks to those who have responded so far, especially those who provided information, and not advice. 
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no wonder the restaurant is doing poorly. tell them that you are not equipped to handle this kind of sale. they would be best off to use a professional business broker and be pleased to get the price net of commissions. a excellent broker can often get you more than you even thought to question. usually restaurants are a tough sale, especially ones that are not doing well.
If you want to help, you can place an ad in the newspaper on business supl. depending what kind of food, you can also ad in different languages. The other point is to send inforamtion about this restaurant to others restaurant’s owners, sometimes they want to expand and they don’t care if the revenue is ok or not. But tell the owner he has to invest some money to sell it!!!
Where is the property located? (City)
How much square feet is the property?
Unfortunately a real estate agent is the way to go. They are the experts and they market the property. On your own theres the risk of making poor financial decisions. That can cost lots of $$$$$$. Make sure u have a excellent lawyer though.
No family member wants to try to run the busines?? sad…
I would like my own business, i just dont have the $$$$.
Try to market on the internet, search and see what can be done on here. Your own web page would be a fantastic way to showcase the entire property. But there is going to be some cost involved, the only free advertizing is a homemade sign on the property.
Let us know how it goes…ok