Ready to Sell Your Cape Coral, Florida Restaurant?

Following years of hard work, you have made the decision sell your Cape Coral, Florida restaurant

Considering opening a new Cape Coral, Florida restaurant, relocating, or even retiring. Regardless of the reason, selling a Cape Coral, Florida restaurant can be way more difficult than you may realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you may have put into it.

Important Actions to Take in Selling Your Restaurant

You may either think to hire a Cape Coral, Florida restaurant broker to assist you in selling your Cape Coral, Florida restaurant or do the task yourself. Whether considering selling your Cape Coral, Florida restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather all Necessary Documentation

This is an important initial step to make when you start the process of selling your Cape Coral, Florida restaurant.

The required documents may vary from state to state--even in Florida, but below is a list of some general documents you may need to have prepared:

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

Corbett Restaurant Group has the experience to assist you in the sale of your Cape Coral, Florida restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal all these documents to a prospective buyer first day. But, you may want to have them on hand because you will eventually need them during the sales process.

Also, compiling these documents allows you to see your Cape Coral, Florida restaurant through the lens of a buyer. This provides you a clear picture of the Cape Coral, Florida restaurant you are selling. In addition, it helps you show if there are any concerns you will have to take care of.

#2 Put Your Financials in Order

Your financial records are an important aspect of selling your Cape Coral, Florida restaurant. This is why you should make it a priority to make these documents complete and well organized.

Offering your financial documents to prospective buyers could assist to clear any doubt they might have regarding your Cape Coral, Florida restaurant.

The financial records could include:

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

In addition, ensure you have soft copies of all of these documents. This will make it easier for you to send the records to prospective buyers.

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

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Cape Coral, Florida restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Cape Coral, Florida restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financials, whether favorable or not, this helps them evaluate the value of your Cape Coral, Florida restaurant.

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to build up your cash flow planning to sell your Cape Coral, Florida restaurant.

The average time it takes to sell a Cape Coral, Florida restaurant is six months. Within those six months, there are many things you can do to strengthen your profit and slash various costs, and thus strengthen the value of your Cape Coral, Florida restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may assist you in deriving the probable worth of your Cape Coral, Florida restaurant. If you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Cape Coral, Florida restaurant could go a great distance in helping you bring potential buyers. Conversely, if the general aesthetic of your Cape Coral, Florida restaurant does not appeal to buyers, they might take a pass without a second look.

To prevent this from happening, all things in and out of your Cape Coral, Florida restaurant must be cleaned and maintained. Manicured and a clean parking lot may help create appeal for prospective buyers.

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

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

Faulty equipment may rouse doubt about your financial capabilities and production abilities. It could even lower the mood of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Cape Coral, Florida restaurant.

#7 look for Cape Coral Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced Cape Coral, Florida restaurant broker to help. A professional Cape Coral, Florida restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project yourself, you will need to create appropriate advertising. You can offer your Cape Coral, Florida restaurant on listing websites and tell family and friends about your intentions to market for sale your Cape Coral, Florida restaurant.

As you will probably come across competition when trying to sell your Cape Coral, Florida restaurant, you need your restaurant to stand out.

#8 Be Prepared

If you decide to sell your Cape Coral, Florida restaurant yourself, or with a a Cape Coral, Florida restaurant broker, you should always be ready. Be ready to show your Cape Coral, Florida restaurant to potential buyers at all times.

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

#9 Sell Your Cape Coral, Florida Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the contract. The documentation will likely start with the Asset Purchase Agreement.

You may need your attorney’s assistance in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details including the selling price of your Cape Coral, Florida restaurant, items and equipment as well as inventory value.

Choosing a Cape Coral, Florida Restaurant Broker

While attempting to sell your Cape Coral, Florida restaurant on your own can be an exhilarating endeavor, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business deal, you need a higher level of experience to stand above and against the competition while attempting to attract buyers.

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

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

Contact a Cape Coral, Florida Restaurant Broker

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

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

Cape Coral Zip Codes We Support: 33903, 33904, 33909, 33910, 33914, 33915, 33922, 33955, 33990, 33991, 33993