Ready to Sell Your Danbury, Connecticut Restaurant?

Following years of labor, you have made the decision sell your Danbury, Connecticut restaurant

Considering starting a new Danbury, Connecticut restaurant, relocating, or maybe slowing down. Regardless of the reason, selling a Danbury, Connecticut restaurant can be a lot more challenging than you might think. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough money for all the time you may have put into it.

Important Actions to Take in Selling Your Restaurant

You may either decide to hire a eatery broker to assist you in selling your Danbury, Connecticut restaurant or do the task yourself. If you are considering selling your Danbury, Connecticut restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Paperwork

This is an important preparatory step to make when you commence the process of selling your Danbury, Connecticut restaurant.

The necessary paperwork may vary from state to state--even in Connecticut, but the following is a list of a few standard documents you may find helpful to have prepared:

• Gather your assets
• Lease document
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documentation
• Architectural plans
• Financial statements and other important financial documents

Corbett Restaurant Group has the expertise to help you in the sale of your Danbury, Connecticut restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to show all these documents to a possible buyer day one. But, you should have them at hand because you will eventually need them during the sales process.

Also, compiling these documents lets you view your Danbury, Connecticut restaurant through the lens of a buyer. It gives you a clear image of the Danbury, Connecticut restaurant you're offering for sale. Furthermore, it allows you to identify whether there are any concerns you'll need to take care of.

#2 Put Your Financials in Order

Your financial documents are a crucial detail of selling your Danbury, Connecticut restaurant. That’s why you should make it a priority to have your documents complete and organized.

Showing your financial documents to prospective buyers may aid clear any hesitations they might have regarding your Danbury, Connecticut restaurant.

Your financial records can include:

• Inventory of equipment and assets
• Profit and loss statements
• Tax records
• Cash transactions
• Bank statements

Also, ensure you have hard copies of all of the records. This will make it easier for you to transmit the information to possible buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these things could create legal problems for you if a buyer later discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Danbury, Connecticut restaurant, you need to understand of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Danbury, Connecticut restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this helps them estimate the true value of the Danbury, Connecticut restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow planning to sell your Danbury, Connecticut restaurant.

The estimated time it takes to sell a Danbury, Connecticut restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and reduce various costs, and thus increase the value of your Danbury, Connecticut restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will aid you in deriving the overall value of your Danbury, Connecticut restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Danbury, Connecticut restaurant can go a long way in helping you attract potential buyers. Alternatively, if the general appearance of your Danbury, Connecticut restaurant does not appeal to buyers, they could pass over without consideration.

To prevent this from happening, all things in and out of your Danbury, Connecticut restaurant must be clean. Landscaping and a clean parking lot may help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also easy things that could help create a unforgettable first impression.

Additionally, you should ensure that all the equipment is in satisfactory condition. If your equipment is not working properly, it could send the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial capabilities and production capabilities. It may even lower the mood of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Danbury, Connecticut restaurant.

#7 look for Danbury Buyers

Searching for prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Danbury, Connecticut restaurant broker to help. The professional Danbury, Connecticut restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you make the decision to handle this task yourself, you will need to carry out appropriate advertising. You can list your Danbury, Connecticut restaurant on business websites and tell family and friends about your intentions to market for sale your Danbury, Connecticut restaurant.

As you will probably come across competition when trying to sell your Danbury, Connecticut restaurant, you need your restaurant to stand out.

#8 Be Ready

Whether you decide to sell your Danbury, Connecticut restaurant yourself, or through a Danbury, Connecticut restaurant broker, you need to always be prepared. Be prepared to show your Danbury, Connecticut restaurant to potential buyers at all times.

You never know when a buyer will walk into your Danbury, Connecticut restaurant. Some buyers might even visit as customers just to carry out some research before contacting you.

#9 Sell Your Danbury, Connecticut Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to finalize the contract. The documentation will likely start with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

This document includes details including the selling price of your Danbury, Connecticut restaurant, assets and equipment as well as inventory value.

Choosing a Danbury, Connecticut Restaurant Broker

Although attempting to sell your Danbury, Connecticut restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most out of the business transaction, you need a higher level of expertise to stand out against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Danbury, Connecticut restaurant broker comes in. A Danbury, Connecticut restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Danbury, Connecticut restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

With the assistance of a Danbury, Connecticut restaurant broker, you can focus your undivided attention on operating your Danbury, Connecticut restaurant and rest assured knowing that a professional is in charge of selling your Danbury, Connecticut restaurant.

Contact a Danbury, Connecticut Restaurant Broker

Deciding to sell your Danbury, Connecticut restaurant through a Danbury, Connecticut restaurant broker has multiple advantages. First, however, you need to select the best Danbury, Connecticut restaurant broker to assist you in selling your Danbury, Connecticut restaurant.

At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Danbury, Connecticut restaurant. And, we work harder than any other Danbury broker to secure the best deal for your restaurant and at the highest sale value.

Contact Corbett Restaurant Group today and let us help you sell your Danbury, Connecticut restaurant for a great price.

Danbury Zip Codes We Support: 06810, 06811, 06813, 06814, 06816, 06817