Time to Sell Your Bonita Springs, Florida Restaurant?

Following years of sweat equity, you have made the decision sell your Bonita Springs, Florida restaurant

Considering starting a different eatery, moving, or maybe slowing down. No matter the reason, selling a Bonita Springs, Florida restaurant can be way more complicated than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either make the decision to contract with a Bonita Springs, Florida restaurant broker to help you in selling your Bonita Springs, Florida restaurant or do the task on your own. If you are considering selling your Bonita Springs, Florida restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather any Important Paperwork

This is an important initial step to take when you start the process of offering your Bonita Springs, Florida restaurant.

The required documents may vary from state to state--even in Florida, but the following is a list of a few generalized documents you may find helpful to have at hand:

• A list of your assets
• Lease documentation
• 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 comes with experience to assist you in the market for sale of your Bonita Springs, Florida restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal the majority of 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 Bonita Springs, Florida restaurant through the lens of a buyer. It gives you a clear image of the Bonita Springs, Florida restaurant you are offering for sale. In addition, it allows you to show if there are any loopholes you'll need to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are an important detail of selling your Bonita Springs, Florida restaurant. That’s why you should make it a priority to have your documents complete and organized.

Offering your financial records to possible buyers may assist to clear any hesitations they might have concerning your Bonita Springs, Florida restaurant.

These financial documents can include:

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

In addition, ensure you have duplicate copies of all of the documents. This could make it easier for you to transmit the information to possible buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things may create legal issues for you if a buyer later on discovers these liabilities after completing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Bonita Springs, Florida restaurant, you need to review 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 Bonita Springs, Florida restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the true value of your Bonita Springs, Florida restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow planning to sell your Bonita Springs, Florida restaurant.

The average time it may take to sell a Bonita Springs, Florida restaurant is 6 months. Within the six months, there are several things you can do in order to increase your profit and cut various costs, and therefore strengthen the worth of your Bonita Springs, Florida restaurant.

In addition, 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 will assist you in deriving the overall value of your Bonita Springs, Florida restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Bonita Springs, Florida restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Bonita Springs, Florida restaurant does not look good to buyers, they likely pass over without a second look.

To avoid this from happening, all things in and out of your Bonita Springs, Florida restaurant must be cleaned and maintained. Landscaping and a clean parking lot could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a neat floor are also easy things that can help create a great first impression.

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

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

You should look credible in order to build the confidence of potential buyers concerning purchasing your Bonita Springs, Florida restaurant.

#7 look for Bonita Springs Buyers

Marketing to prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced Bonita Springs, Florida restaurant broker to help. The professional Bonita Springs, Florida restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can market your Bonita Springs, Florida restaurant on listing websites and let your family and friends know about your plans to sell your Bonita Springs, Florida restaurant.

As you will likely run across competition when trying to sell your Bonita Springs, Florida restaurant, you need your restaurant to stand out.

#8 Be Prepared

Whether you decide to sell your Bonita Springs, Florida restaurant yourself, or with a a Bonita Springs, Florida restaurant broker, you should always be prepared. Be prepared to show your Bonita Springs, Florida restaurant to prospective buyers at all times.

You'll never know when a buyer could visit your Bonita Springs, Florida restaurant. Some buyers might even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Bonita Springs, Florida Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the deal. The paperwork will usually begin with the Asset Purchase Agreement.

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

This agreement includes details such as the selling price of your Bonita Springs, Florida restaurant, items and equipment and inventory value.

Choosing a Bonita Springs, Florida Restaurant Broker

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

It's true, if you're looking to achieve the most out of the business transaction, you need a higher level of experience in order to stand out against your competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Bonita Springs, Florida restaurant broker is recommended. A Bonita Springs, Florida restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Bonita Springs, Florida restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

With the assistance of a Bonita Springs, Florida restaurant broker, you can focus your undivided attention on operating your Bonita Springs, Florida restaurant and rest assured with the knowledge that a professional is in charge of selling your Bonita Springs, Florida restaurant.

Contact a Bonita Springs, Florida Restaurant Broker

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

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

Bonita Springs Zip Codes We Support: 33928, 33931, 34110, 34119, 34133, 34134, 34135, 34136