Ready to Sell Your Bradenton, Florida Restaurant?

After years of labor, you have made the decision sell your Bradenton, Florida restaurant

Contemplating starting a different Bradenton, Florida restaurant, moving, or even slowing down. No matter the reason, selling your Bradenton, Florida restaurant can be way more difficult than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Important Actions to Consider when Selling Your Restaurant

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

#1 Gather any Business Documentation

This is a necessary preparatory step to take when you begin the process of selling your Bradenton, Florida restaurant.

The necessary paperwork may vary from state to state--even in Florida, but the following is a list of some generalized documents you may find helpful to have ready:

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

It's probably smart not to reveal all these documents to a possible buyer day one. But, you should have them at hand because you will certainly require them during the sales process.

In addition, compiling these documents allows you to view your Bradenton, Florida restaurant through the lens of a buyer. It gives you a clear image of the Bradenton, Florida restaurant you are offering for sale. In addition, it allows you to identify if there are any areas you'll have to take care of.

#2 Get Your Financials in Order

Your financial records are a crucial part of selling your Bradenton, Florida restaurant. This is why you should make an effort to have your documents accurate and organized.

Offering your financial records to possible buyers may help clear any hesitations they might have concerning your Bradenton, Florida restaurant.

The financial records may 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 records. This could make it easier for you to transmit the records to prospective buyers.

In addition, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these ommissions post sealing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Bradenton, Florida restaurant, you need to review of your commercial lease. It could be devestating if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Bradenton, Florida 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 financials, whether favorable or not, this helps them evaluate the value of your Bradenton, Florida restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow starting to sell your Bradenton, Florida restaurant.

The estimated time it takes to sell a Bradenton, Florida restaurant is six months. Within those six months, there are several things you can do to strengthen your profit and reduce several costs, and thus increase the worth of your Bradenton, Florida restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This will help you in estimating the probable value of your Bradenton, Florida restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Bradenton, Florida restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Bradenton, Florida restaurant does not look good to buyers, they could take a pass right off the bat.

To prevent this from happening, everything in and out of your Bradenton, Florida restaurant must be clean. Landscaping and a clean parking area can help create appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are other easy things that could help create a memorable initial impression.

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

Non-functional equipment also raises doubt about your financial situation and output abilities. It could even dampen the excitment of your staff, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding purchasing your Bradenton, Florida restaurant.

#7 Search for Bradenton Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Bradenton, Florida restaurant broker to help. A professional Bradenton, Florida restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this project by yourself, you will need to carry out appropriate advertising. You can offer your Bradenton, Florida restaurant on business websites and let your family and friends know about your intentions to sell your Bradenton, Florida restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could walk into your Bradenton, Florida restaurant. Some buyers might even visit as customers just to carry out some research before contacting you.

#9 Sell Your Bradenton, Florida Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the deal. The paperwork will likely begin with the Asset Purchase Agreement.

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

This document includes details including the selling price of your Bradenton, Florida restaurant, assets and equipment and inventory value.

Choosing a Bradenton, Florida Restaurant Broker

Although trying to sell your Bradenton, Florida restaurant on your own can be an exciting project, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most from of the business transaction, you need a higher 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 Bradenton, Florida restaurant broker comes in. A Bradenton, Florida restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Bradenton, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

With the help of a Bradenton, Florida restaurant broker, you can focus your undivided attention on operating your Bradenton, Florida restaurant and rest easy with the knowledge that a professional is in charge of selling your Bradenton, Florida restaurant.

Contact a Bradenton, Florida Restaurant Broker

Choosing to sell your Bradenton, Florida restaurant through a Bradenton, Florida restaurant broker has multiple advantages. First, however, you need to select the best Bradenton, Florida restaurant broker to assist you in selling your Bradenton, Florida restaurant.

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

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