Putting up an "available" sign in an ongoing business

[Gabriel Petsios]

Hello everyone,

I own a restaurant that is on the MLS for sale. Once it is sold I am going to get into real estate investing. The restaurant is still in operation and must continue to operate until it is sold. My whole staff is fully aware that I am selling my business. A few of my regular customers know as well. The question of the day is I am wondering if it is a good idea or not to put an available sign in the corner of the property. Will this hurt my business? Or will it help as a form of marketing in real estate? My broker is strongly suggesting I should put a sign up. But I would like to hear opinions or facts from other fellow members. Please share your thoughts.

Thank you,

Gabe Petsios 

[Chris K.]

@Gabriel Petsios

Hard to say but friends of mine ended up closing a successful restaurant (they had no interest in selling it). When they did so, they posted a thank you message on their social media and basically announced that they would close by a certain date. Foot traffic increased since many customers wanted to visit before it closed. Not sure if it would be the same for you and your restaurant. 

In terms of marketing for real estate, it probably helps.  

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.