Sell My Restaurant: A Confidential, Advisor-Run Process
For multi-unit operators, franchisees, and higher-EBITDA restaurant groups, "sell my restaurant" should mean a competitive, advisor-run process — not a public listing. Understand how much to sell your restaurant for, who is buying in 2026, and how a sell-side process protects your value and your confidentiality.
Inquiries are strictly confidential — no public listing of your firm.
A listing is not a process
Search "sell my restaurant" and you will find business-for-sale marketplaces and restaurant-broker boards. Single locations often do sell that way. But for multi-unit groups and franchise portfolios, posting to a board is not the same as running a sell-side process — and the difference shows up in your final number.
4x – 7x adjusted EBITDA
for multi-unit groups and franchise portfolios that read as a platform; single locations are more often priced at 1.5x–3x SDE (seller's discretionary earnings), and scaled operators with strong AUVs can push past the top of the band
Who is buying restaurants in 2026
The buyer universe for restaurants has widened well beyond the next owner-operator. Private equity is actively building restaurant platforms, large multi-unit franchisees are rolling up smaller operators, and franchisors are reshaping their systems — which is exactly why scaled, well-run groups are being bid up.
Liquor licenses and franchise consent
Restaurant transactions carry transfer approvals that other deals do not: liquor-license transfers run through state and local authorities on their own timeline, and franchised locations require the franchisor to approve the buyer and consent to any transfer. These gating items are manageable, but they need to be sequenced from the start of the process — not discovered in diligence.
PE-backed restaurant platforms & consolidators
Private-equity-sponsored platforms acquiring for scale, brand equity, and franchise-portfolio density — Roark Capital (Dave's Hot Chicken, Subway, Inspire Brands), Bain Capital (which bought Little Caesars franchisee Sizzling Platter from CapitalSpring), Franchise Equity Partners, and CapitalSpring. Global investment in the sector roughly doubled in 2025. Usually partnership structures with rollover equity and earnouts, not clean exits.
Multi-unit franchisees & strategic operators
Large multi-unit franchisees and strategic chains acquiring to add units, geography, and buying power — Sun Holdings (which has acquired brands including Uncle Julio's and Bar Louie), Flynn Group, and other mega-franchisees. Even franchisors are transacting: Jack in the Box sold a chain it had acquired to a franchisee. They value continuity of crew, AUV, and clean lease/franchise transferability.
Independent owner-operator & succession buyers
A single buyer, family successor, or rising GM acquiring the business for succession. Best fit for smaller, owner-dependent or single-location restaurants with a clear transition runway — often financed with an SBA loan and a seller note.
Roark Capital acquired an approximately 75% majority stake in Dave's Hot Chicken — a fast-growing, franchise-led chain with 300+ locations — in a transaction valued at roughly $1 billion. The founding team and CEO retained equity rather than fully exiting.
A clear example of private equity paying a premium for a scaled, franchise-led restaurant platform — and of founders partnering with rollover equity rather than simply closing. Proof that buyers pay up for unit economics, brand, and system density, not just cash flow.
How a sell-side process works, end to end
A structured process is what turns "I got an offer" into "I ran a market and chose the best one." Each stage is designed to protect your confidentiality and your leverage.
- 013–5 weeks
Preparation & positioning
Normalize and recast financials (add-backs, owner comp, one-time costs), build the confidential information memorandum, and frame the AUV, unit-economics, and growth story that moves your multiple.
- 021–2 weeks
Valuation & strategy
Establish a defensible value range and target the right buyer archetype — PE platform, multi-unit operator, or succession buyer.
- 034–6 weeks
Confidential buyer outreach
Approach a curated set of vetted buyers under NDA. No public listing, no exposure to staff, landlords, or guests.
- 042–4 weeks
Offers & LOI
Drive competitive tension to a deadline, compare structures side by side, and negotiate the letter of intent.
- 054–8 weeks
Diligence
Manage the buyer's financial, quality-of-earnings, lease, and franchise-consent review while keeping the deal on track.
- 063–6 weeks
Close & transition
Finalize terms, coordinate lease assignments and license transfers, fund, and execute the transition plan that keeps crew and guests in place.
Deal structures owners should understand
Most restaurant deals are not all-cash at close, and the mechanics are restaurant-specific. Knowing the levers in advance is how you avoid leaving value — or protection — on the table.
Asset sale vs. equity sale
The large majority of restaurant deals are asset sales — the buyer purchases the FF&E, inventory, brand, and goodwill rather than the entity. That changes tax treatment and which liabilities transfer, so it is worth modeling before you go to market.
Lease assignment & FF&E
The lease is often the most valuable asset in the deal. Landlord consent to assignment, remaining term and options, and the condition and value of furniture, fixtures, and equipment are all negotiated and can make or break a close.
Liquor license & franchise consent
Liquor-license transfer timelines and franchisor approval of the buyer are gating items in most deals. Structuring around them early — including management or escrow arrangements while transfers clear — protects the timeline.
Earnouts, seller notes & rollover
A portion of price is frequently tied to post-close performance (earnout), carried as a seller note, or reinvested as rollover equity into the acquiring platform — a "second bite" if the group grows and sells again. The terms decide whether these are fair or a discount in disguise.
What to fix before you go to market
The same levers buyers price are the ones you can move beforehand. Addressing them early is the highest-ROI work an owner can do before a sale.
De-risk owner dependence
Buyers discount restaurants that revolve around the owner in the kitchen or at the register. Build a strong GM and management layer and document systems so the business runs without you.
Clean up the books & add-backs
Clear, defensible financials with well-documented owner add-backs are what let a buyer underwrite your true EBITDA. Vague or commingled books read as risk and get discounted.
Secure the lease and licenses
A strong remaining lease term with renewal options, plus transferable liquor and operating licenses, directly protects value — a short or non-assignable lease can cap your multiple.
Prove durable unit economics
Stable-to-growing average unit volumes, healthy prime cost, and manager and crew retention protect the multiple through transition. Show the trend, not just a single strong quarter.
Frequently asked questions
For a multi-unit group or franchise portfolio, through a confidential sell-side process: prepare and value the business, approach vetted buyers under NDA, drive competitive offers, negotiate the LOI, and manage diligence — including lease assignment, license transfer, and franchise consent — to close. The goal is to run a market rather than accept a single inbound offer. Single locations are more often sold through a business broker.
Multi-unit restaurant groups and franchise portfolios commonly sell for roughly 4x–7x adjusted EBITDA, while single locations are more often priced at 1.5x–3x SDE. Multi-unit operators typically command a 1x–2x EBITDA premium over single-unit operators. Average unit volume, lease terms, brand/royalty structure, and manager depth drive where you land. See what your restaurant is worth for current bands.
PE-backed restaurant platforms and consolidators (Roark Capital, Bain Capital, CapitalSpring, Franchise Equity Partners), large multi-unit franchisees and strategic operators (Sun Holdings, Flynn Group), and independent owner-operator and succession buyers. In 2026, private equity is actively acquiring scaled, franchise-led restaurant platforms, often through partnership structures with rollover equity.
A well-run sell-side process typically runs five to eight months from preparation to close, depending on group size, diligence complexity, and the timelines for lease assignment, liquor-license transfer, and franchise consent.
Start a confidential valuation conversation
No public listing, no upfront fees. Understand how much to sell your restaurant for and what a real sell-side process could deliver. 100% success fee · $0 upfront · $1B+ closed.