Ready to Sell Your Citrus Park, Florida Restaurant?

After years of hard work, you have made the decision sell your Citrus Park, Florida restaurant

Considering opening a new Citrus Park, Florida restaurant, relocating, or maybe slowing down. No matter the reason, selling a Citrus Park, Florida restaurant can be way more difficult than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either think to contract with a eatery broker to help you in selling your Citrus Park, Florida restaurant or take on the task yourself. If you are considering selling your Citrus Park, 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 an important first step to take when you commence the process of selling your Citrus Park, Florida restaurant.

The required paperwork may vary from state to state--even in Florida, but the following is a list of a few standard documents you may need to have on you:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Citrus Park, Florida restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to reveal all these documents to a prospective buyer right away. However, you may want to have them ready because you will certainly require them during the sales process.

In addition, compiling these documents lets you view your Citrus Park, Florida restaurant through the lens of a buyer. This gives you a clear image of the Citrus Park, Florida restaurant you're selling. Furthermore, it allows you to show if there are any areas you will need to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important part of selling your Citrus Park, Florida restaurant. This is the reason you should strive to have these documents accurate and well organized.

Showing your financial documents to prospective buyers could aid clear any doubt they may have concerning your Citrus Park, Florida restaurant.

These financial records could include:

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

Also, ensure you have soft copies of all of these records. This may make it easier for you to transmit the documentation to prospective buyers.

Likewise, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Citrus Park, Florida restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Citrus Park, Florida restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this helps them estimate the true value of your Citrus Park, Florida restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to build your cash flow starting to sell your Citrus Park, Florida restaurant.

The estimated time it takes to sell a Citrus Park, Florida restaurant is 6 months. Within those six months, there is a lot you can do in order to increase your profit and reduce various costs, and therefore increase the value of your Citrus Park, Florida restaurant.

Also, 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 aid you in coming up with the overall value of your Citrus Park, Florida restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Citrus Park, Florida restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Citrus Park, Florida restaurant does not look good to buyers, they might take a pass without a second look.

To avoid this from happening, all things in and out of your Citrus Park, Florida restaurant must be clean. Landscaping and a clean parking lot can help create curb appeal for potential buyers.

Clean windows, polished handles and a clean floor are other easy things that could help create a unforgettable first impression.

Additionally, you should ensure that all your equipment is in satisfactory condition. If your equipment is not functioning, it may send the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial capabilities and production abilities. It can even dampen the excitment of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning buying your Citrus Park, Florida restaurant.

#7 Search for Citrus Park Buyers

Marketing to prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced Citrus Park, Florida restaurant broker to help. The professional Citrus Park, Florida restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this task by yourself, you will need to carry out appropriate advertising. You can list your Citrus Park, Florida restaurant on business websites and let your family and friends know about your plans to market for sale your Citrus Park, Florida restaurant.

As you will likely come across competition when trying to sell your Citrus Park, Florida restaurant, you need your restaurant to stand out.

#8 Be Prepared

Regardless if you decide to sell your Citrus Park, Florida restaurant yourself, or through a Citrus Park, Florida restaurant broker, you should always be ready. Be prepared to show your Citrus Park, Florida restaurant to potential buyers at all times.

You will never know when a buyer will visit your Citrus Park, Florida restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Citrus Park, Florida Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the transaction. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Citrus Park, Florida Restaurant Broker

Although attempting to sell your Citrus Park, Florida restaurant on your own can be an exciting project, it could also be very risky, especially for first time sellers.

It's true, if you're looking to achieve the most out of the business deal, you need a higher level of expertise to stand out against the competition while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Citrus Park, Florida restaurant broker is recommended. A Citrus Park, Florida restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Citrus Park, Florida restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Citrus Park, Florida Restaurant Broker

Deciding to sell your Citrus Park, Florida restaurant through a Citrus Park, Florida restaurant broker has many advantages. First, however, you need to select the best Citrus Park, Florida restaurant broker to help you in selling your Citrus Park, Florida restaurant.

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

Citrus Park Zip Codes We Support: 33556, 33625