Decided to Sell Your South Windsor, Connecticut Restaurant?

After years of hard work, you have made the decision sell your South Windsor, Connecticut restaurant

Contemplating starting a different eatery, relocating, or even retiring. Regardless of the reason, selling your South Windsor, Connecticut restaurant can be a lot more challenging than you may think. This is because it takes careful preparation and a solid game plan to successfully get out with enough money for all the time you’ve put into it.

Important Steps to Take when Selling Your Restaurant

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

#1 Put Together any Necessary Paperwork

This is an important initial step to take when you start the process of offering your South Windsor, Connecticut restaurant.

The necessary documents may vary from state to state--even in Connecticut, but below is a list of a few generalized documents you may need to have at hand:

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

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

You probably do not want to reveal the majority of these documents to a prospective buyer right away. But, you may want to have them on hand because you will certainly require them during the sales process.

Also, compiling these documents lets you see your South Windsor, Connecticut restaurant through the lens of a buyer. This gives you a clear image of the South Windsor, Connecticut restaurant you are offering for sale. In addition, it allows you to identify if there are any areas you'll have to address.

#2 Get Your Financials in Order

Your financial records are an important aspect of selling your South Windsor, Connecticut restaurant. This is the reason you should make an effort to have your documents complete and organized.

Showing your financial documents to possible buyers may assist to clear any doubt they might have concerning your South Windsor, Connecticut restaurant.

The financial records could include:

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

In addition, make sure you have duplicate copies of all of the documents. This will make it easier for you to transmit the records to potential buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these things may create legal issues for you if a buyer later on discovers these ommissions post closing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your South Windsor, 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 regarding your plan to sell your South Windsor, Connecticut restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your South Windsor, Connecticut restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow before trying to sell your South Windsor, Connecticut restaurant.

The estimated time it takes to sell a South Windsor, Connecticut restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and reduce several costs, and thus strengthen the worth of your South Windsor, Connecticut restaurant.

Also, 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 assist you in deriving the probable value of your South Windsor, Connecticut restaurant. When you understand the overall value this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your South Windsor, Connecticut restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the general look of your South Windsor, Connecticut restaurant does not appeal to buyers, they could take a pass immediately.

To prevent this from happening, all things in and out of your South Windsor, Connecticut restaurant must be clean. Landscaped and a clean parking lot can help create appeal for prospective buyers.

Clean windows, polished handles and a neat floor are also easy items that could help create a great initial impression.

Additionally, you should make sure all your equipment is in top condition. If your equipment is not working properly, it could convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial capabilities and output capabilities. It can even dampen the mood of your employees, 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 potential buyers concerning purchasing your South Windsor, Connecticut restaurant.

#7 Search for South Windsor Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional South Windsor, Connecticut restaurant broker to help. A professional South Windsor, Connecticut restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this task by yourself, you will need to create appropriate advertising. You can offer your South Windsor, Connecticut restaurant on business websites and let your family and friends know about your intentions to market for sale your South Windsor, Connecticut restaurant.

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

#8 Be Ready

Regardless if you decide to sell your South Windsor, Connecticut restaurant yourself, or through a South Windsor, Connecticut restaurant broker, you should always be prepared. Be prepared to show your South Windsor, Connecticut restaurant to prospective buyers at all times.

You will never know when a buyer could visit your South Windsor, Connecticut restaurant. Some buyers might even visit as customers in order to carry out some research before contacting you.

#9 Sell Your South Windsor, Connecticut Restaurant

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

You should have your attorney’s expertise in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a South Windsor, Connecticut Restaurant Broker

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

The fact remains, in order for you to get the most out of the business transaction, you need some level of experience to stand above and against the cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced South Windsor, Connecticut restaurant broker comes in. A South Windsor, Connecticut restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your South Windsor, Connecticut restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a South Windsor, Connecticut Restaurant Broker

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

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

South Windsor Zip Codes We Support: 06074, 06088