Time to Sell Your Shelton, Connecticut Restaurant?

After years of sweat equity, you have made the decision sell your Shelton, Connecticut restaurant

Considering starting a new Shelton, Connecticut restaurant, relocating, or maybe slowing down. No matter the reason, selling your Shelton, Connecticut restaurant can be a lot more complicated than you might realize. Thats because it takes careful preparation and a solid strategy to successfully exit with enough money for all the time you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either think to hire a Shelton, Connecticut restaurant broker to guide you in selling your Shelton, Connecticut restaurant or take on the task yourself. Whether considering selling your Shelton, Connecticut restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Important Documentation

This is a necessary first step to take when you begin the process of offering your Shelton, Connecticut restaurant.

The necessary paperwork may vary from state to state--even in Connecticut, but below is a list of some standard documents you may be requierd to have prepared:

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

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

You probably do not want to reveal the majority of these documents to a possible buyer day one. However, you should have them ready because you will certainly require them during the sales process.

Also, putting together these documents lets you see your Shelton, Connecticut restaurant through the lens of a buyer. It gives you a clear picture of the Shelton, Connecticut restaurant you are selling. In addition, it helps you identify whether there are any loopholes you'll need to address.

#2 Get Your Financial Documents in Order

Your financial documents are a crucial part of selling your Shelton, Connecticut restaurant. That’s the reason you should strive to make these documents accurate and organized.

Offering your financial records to potential buyers could help clear any hesitations they might have concerning your Shelton, 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 hard copies of all of the documents. This will make it easier for you to send the records to prospective buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items 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

While preparing to sell your Shelton, Connecticut restaurant, you need to understand 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 may advisable to have a discussion with your landlord regarding your plan to sell your Shelton, Connecticut restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this will help them estimate the value of your Shelton, Connecticut restaurant.

It is therefore 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 Shelton, Connecticut restaurant.

The estimated time it takes to sell a Shelton, Connecticut restaurant is six months. Within the six months, there are several things you can do in order to strengthen your profit and cut several costs, and therefore increase the value of your Shelton, Connecticut restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This could help you in estimating the probable worth of your Shelton, Connecticut restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Increase Curb Appeal

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

To avoid this from happening, everything in and out of your Shelton, Connecticut restaurant must be clean. Landscaped and a clean parking lot may help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are other small items that can help create a unforgettable initial impression.

Furthermore, you should ensure all your equipment is in satisfactory condition. If your equipment is not functioning, it can send the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial situation and output capabilities. It could even lower the morale of your staff, and in response, 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 Shelton, Connecticut restaurant.

#7 Search for Shelton Buyers

Searching for prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may require that you hire a professional Shelton, Connecticut restaurant broker to help. The professional Shelton, Connecticut restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this task alone, you will need to carry out proper advertising. You can show your Shelton, Connecticut restaurant on listing websites and let your family and friends know about your plans to sell your Shelton, Connecticut restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Shelton, Connecticut restaurant yourself, or with a a Shelton, Connecticut restaurant broker, you should always be prepared. Be ready to show your Shelton, Connecticut restaurant to potential buyers at all times.

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

#9 Sell Your Shelton, Connecticut Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the transaction. The paperwork often begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details such as the selling price of your Shelton, Connecticut restaurant, items and equipment as well as inventory value.

Choosing a Shelton, Connecticut Restaurant Broker

Although trying to sell your Shelton, Connecticut restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business deal, you need some level of experience to stand out against your competition while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Shelton, Connecticut restaurant broker is recommended. A Shelton, Connecticut restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Shelton, Connecticut restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Shelton, Connecticut Restaurant Broker

Deciding to sell your Shelton, Connecticut restaurant through a Shelton, Connecticut restaurant broker has many advantages. First, however, you need to select the best Shelton, Connecticut restaurant broker to help you in selling your Shelton, Connecticut restaurant.

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

Shelton Zip Codes We Support: 06484