Are You Ready to Sell Your Darien, Connecticut Restaurant?

Following years of hard work, you have decided to sell your Darien, Connecticut restaurant

Contemplating starting a different Darien, Connecticut restaurant, relocating, or even retiring. No matter the reason, selling a Darien, Connecticut restaurant can be a lot more complicated than you may realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the time you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to contract with a eatery broker to help you in selling your Darien, Connecticut restaurant or do the task yourself. Whether considering selling your Darien, Connecticut restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Necessary Documentation

This is an important first step to make when you begin the process of selling your Darien, Connecticut restaurant.

The required 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:

• A list of your assets
• Lease contract
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• Architectural plan
• Financial statements and other important financial documents

Corbett Restaurant Group has the experience to assist you in the market for sale of your Darien, Connecticut restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to show all these documents to a possible buyer right away. However, you may want to have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents allows you to see your Darien, Connecticut restaurant through the lens of a buyer. This gives you a clear image of the Darien, Connecticut restaurant you're offering for sale. Furthermore, it helps you show if there are any areas you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are an important part of selling your Darien, Connecticut restaurant. That’s why you should strive to make your documents accurate and organized.

Showing your financial records to prospective buyers could assist to clear any doubt they may have concerning your Darien, Connecticut restaurant.

Your financial records can include:

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

Also, make sure you have duplicate copies of all of the documents. This can make it easier for you to transmit the information to possible buyers.

In addition, as a seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things may create legal problems for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Darien, Connecticut restaurant, you must find out the terms of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Darien, Connecticut restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the true value of your Darien, Connecticut restaurant.

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

The estimated time it may take to sell a Darien, Connecticut restaurant is six months. Within those six months, there is a lot you can do in order to strengthen your profit and cut various costs, and therefore strengthen the value of your Darien, Connecticut restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could aid you in deriving the probable value of your Darien, Connecticut restaurant. If you understand the overall value this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Darien, Connecticut restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general look of your Darien, Connecticut restaurant does not appeal to buyers, they might pass over right off the bat.

To avoid this from happening, everything in and out of your Darien, Connecticut restaurant must be clean. Landscaping and a clean parking lot could help create appeal for potential buyers.

Spot-free windows, polished door handles and a presentable floor are also easy items that can help create a unforgettable first impression.

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

Non-functional equipment may rouse doubt about your financial situation and production abilities. It could even lower the mood of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Darien Buyers

Marketing to prospective buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Darien, Connecticut restaurant broker to help. A professional Darien, Connecticut restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this project alone, you will need to create appropriate advertising. You can list your Darien, Connecticut restaurant on business websites and tell family and friends about your plans to market for sale your Darien, Connecticut restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Darien, Connecticut Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Darien, Connecticut Restaurant Broker

Although attempting to sell your Darien, Connecticut restaurant on your own can be an exciting project, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most out of the business transaction, you need some level of expertise to stand out against your competition while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Darien, Connecticut restaurant broker comes in. A Darien, Connecticut restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Darien, Connecticut restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

With the assistance of a Darien, Connecticut restaurant broker, you can maintain your undivided attention on operating your Darien, Connecticut restaurant and rest easy with the knowledge that a professional is in charge of selling your Darien, Connecticut restaurant.

Contact a Darien, Connecticut Restaurant Broker

Choosing to sell your Darien, Connecticut restaurant through a Darien, Connecticut restaurant broker has several advantages. First, however, you need to select the best Darien, Connecticut restaurant broker to help you in selling your Darien, Connecticut restaurant.

At Corbett Restaurant Brokers, we consider it our honor to represent you in the sale of your Darien, Connecticut restaurant. And, we work harder than any other Darien 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 Darien, Connecticut restaurant for a great price.

Darien Zip Codes We Support: 06820