Right Time to Sell Your Brandon, Florida Restaurant?

After years of hard work, you have decided to sell your Brandon, Florida restaurant

Contemplating opening a different Brandon, Florida restaurant, relocating, or maybe retiring. Regardless of the reason, selling a Brandon, Florida restaurant can be way more difficult than you might think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the time you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You may either decide to contract with a Brandon, Florida restaurant broker to help you in selling your Brandon, Florida restaurant or do the task on your own. If you are considering selling your Brandon, Florida 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 a necessary preparatory step to take when you begin the process of offering your Brandon, Florida restaurant.

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

• A list of your assets
• Lease document
• 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 has the expertise to assist you in the sale of your Brandon, Florida 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 potrntial buyer right away. But, you may want to have them at hand because you will certainly need them during the sales process.

Also, compiling these documents lets you see your Brandon, Florida restaurant through the lens of a buyer. It gives you a clear picture of the Brandon, Florida restaurant you are offering for sale. In addition, it helps you show if there are any concerns you will need to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important detail of selling your Brandon, Florida restaurant. That’s why you should strive to make your documents complete and well organized.

Showing your financial documents to potential buyers may help clear any hesitations they may have concerning your Brandon, Florida restaurant.

The financial documents can include:

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

Also, make sure you have duplicate copies of all of the documents. This could make it easier for you to transmit the records to prospective buyers.

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

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Brandon, Florida restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Brandon, Florida restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth evaluation of your financial records, whether favorable or not, this will help them estimate the true value of your Brandon, Florida restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build up your cash flow planning to sell your Brandon, Florida restaurant.

The estimated time it takes to sell a Brandon, Florida restaurant is 6 months. Within the six months, there are several things you can do in order to increase your profit and cut several costs, and thus strengthen the worth of your Brandon, Florida restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may aid you in estimating the overall worth of your Brandon, Florida restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Brandon, Florida restaurant can go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Brandon, Florida restaurant does not look good to buyers, they might pass over immediately.

To avoid this from happening, everything in and out of your Brandon, Florida restaurant must be clean. Manicured and a clean parking area could help create curb appeal for potential buyers.

Spot-free windows, polished door handles and a presentable floor are other small things that would 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 convey the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial status and production abilities. It may even dampen 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 potential buyers regarding buying your Brandon, Florida restaurant.

#7 look for Brandon Buyers

Looking for potential buyers can be time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire a professional Brandon, Florida restaurant broker to help. A professional Brandon, Florida restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this task alone, you will need to create appropriate advertising. You can show your Brandon, Florida restaurant on business websites and tell family and friends about your intentions to sell your Brandon, Florida restaurant.

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

#8 Be Ready

Whether you decide to sell your Brandon, Florida restaurant yourself, or through a Brandon, Florida restaurant broker, you need to always be prepared. Be prepared to show your Brandon, Florida restaurant to potential buyers at all times.

You never know when a buyer could visit your Brandon, Florida restaurant. Some buyers may even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Brandon, Florida Restaurant

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

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

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

Choosing a Brandon, Florida Restaurant Broker

While trying to sell your Brandon, Florida restaurant on your own can be an exciting 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 a higher level of experience in order to stand above and against the competition while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Brandon, Florida restaurant broker is needed. A Brandon, Florida restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Brandon, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Brandon, Florida Restaurant Broker

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

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

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