Time to Sell Your Windsor, Connecticut Restaurant?

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

Contemplating starting a different eatery, moving, or even retiring. No matter the reason, selling a Windsor, Connecticut restaurant can be a lot more complicated than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the sweat you may have put into it.

Important Steps to Take when Selling Your Restaurant

You may either think to contract with a eatery broker to assist you in selling your Windsor, Connecticut restaurant or do the task yourself. If you are considering selling your Windsor, Connecticut restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together the Business Documentation

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

The required paperwork may vary from state to state--even in Connecticut, but the following is a list of some standard documents you may need to have at hand:

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

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

It's probably best not to show all these documents to a possible buyer right away. But, 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 view your Windsor, Connecticut restaurant through the lens of a buyer. This provides you a clear image of the Windsor, Connecticut restaurant you're offering for sale. In addition, it allows you to show whether there are any concerns you'll need to take care of.

#2 Put Your Financials in Order

Your financial records are an important part of selling your Windsor, Connecticut restaurant. This is why you should make it a priority to have your documents accurate and well organized.

Showing your financial records to possible buyers could assist to clear any hesitations they may have regarding your Windsor, 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 could make it easier for you to send the documentation to possible buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these items could create legal problems for you if a buyer later on discovers these ommissions after signing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Windsor, Connecticut restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this helps with estimating the value of your Windsor, Connecticut restaurant.

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

The estimated time it may take to sell a Windsor, Connecticut restaurant is 6 months. Within those six months, there are many things you can do in order to increase your profit and slash various costs, and thus increase the value of your Windsor, 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 value your assets.

This may aid you in deriving the probable value of your Windsor, Connecticut restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Windsor, Connecticut restaurant will go a long way in helping you attract potential buyers. Conversely, if the general look of your Windsor, Connecticut restaurant does not appeal to buyers, they could take a pass without consideration.

To avoid this from happening, all things in and out of your Windsor, Connecticut restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create appeal for potential buyers.

Clean windows, polished handles and a presentable floor are also small items that can help create a unforgettable first impression.

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

Non-functional equipment could raise doubt about your financial status and output abilities. It may even lower the excitment of your staff, 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 Windsor, Connecticut restaurant.

#7 Search for Windsor Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Windsor, Connecticut restaurant broker to help. The professional Windsor, Connecticut restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this task yourself, you will need to carry out appropriate advertising. You can list your Windsor, Connecticut restaurant on listing websites and let your family and friends know about your plans to sell your Windsor, Connecticut restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Windsor, Connecticut Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the contract. The documentation will usually begin with the Asset Purchase Agreement.

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

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

Choosing a Windsor, Connecticut Restaurant Broker

While attempting to sell your Windsor, Connecticut restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

The fact remains, in order for you to achieve the most from of the business transaction, you need some level of experience to stand out against the cometitors while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Windsor, Connecticut restaurant broker comes in. A Windsor, Connecticut restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Windsor, Connecticut restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Windsor, Connecticut Restaurant Broker

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

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

Windsor Zip Codes We Support: 06006, 06028, 06064, 06095