Selling location questions (do you let location know? Couldn't someone just go around you?

[anoncow]

Forgive me if these are obvious questions, I have 4 locations, looking to downsize, most of the information I find about selling is about how to value a location.

When selling, do you let the location know you are trying to sell the machine(s) / location? (I have no written contracts)

Part of me thinks if you have been providing good service they would not care, another part thinks if you are leaving they might as well just try to find another vendor on their own.

Also, if I give all of the details about a location, the machine type, sales, etc. What is to stop someone from just going around me and offering the location a better deal? 

Thanks in advance!

[Bvending]

It depends on the location for me when I'm selling. If there is a contact at the location that I have been dealing with for years or see on a regular basis then I let them know what is happening. 

Also never tell a potential buyer where the location is until a contract is signed and/or you have received payment. Type of equipment, type of location ( not the actual location ) and revenue is all that should be given beforehand

[Southeast Treats]

Usually would let the locations know when the sale is complete, introduce the new operator and make sure they have the new contact info.   Some people like to phrase it as a new "driver" or some such, I think that complicates the issue too much. 

As for giving out locations, at some point later on in the sale process the buyer will probably want to see the equipment/location for himself to verify the info you have provided.  You need to be comfortable at that point about the buyer being legit.  It's much easier to buy a location than to steal one, but some people might try.  If you have a good non-disclosure agreement from the potential buyer up front then at least you have some recourse if he tries to do an end run.