Are You Ready to Sell Your Coconut Creek, Florida Restaurant?

After years of hard work, you have made the decision sell your Coconut Creek, Florida restaurant

Contemplating starting a new eatery, relocating, or maybe retiring. Regardless of the reason, selling your Coconut Creek, Florida restaurant can be way more difficult than you may realize. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the time you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You may either make the decision to contract with a Coconut Creek, Florida restaurant broker to guide you in selling your Coconut Creek, Florida restaurant or take on the task on your own. If you are considering selling your Coconut Creek, Florida restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Put Together any Business Documentation

This is a necessary initial step to take when you start the process of offering your Coconut Creek, Florida restaurant.

The necessary paperwork may vary from state to state--even in Florida, but below is a list of some general documents you may be requierd to have on you:

• A list of your assets
• Lease document
• 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 market for sale of your Coconut Creek, Florida restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to show the majority of these documents to a potrntial buyer day one. However, you may want to have them at hand because you will eventually require them during the sales process.

Also, compiling these documents lets you see your Coconut Creek, Florida restaurant through the lens of a buyer. This gives you a clear picture of the Coconut Creek, Florida restaurant you're selling. Furthermore, it allows you to identify if there are any loopholes you'll need to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important aspect of selling your Coconut Creek, Florida restaurant. This is why you should strive to have these documents complete and well organized.

Showing your financial documents to potential buyers could help clear any hesitations they may have regarding your Coconut Creek, Florida restaurant.

Your financial records could include:

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

Also, make sure you have hard copies of all of these records. This can make it easier for you to transmit the information to potential buyers.

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

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Coconut Creek, Florida restaurant, you must find out the terms of your commercial lease. It would be devestating if, after securing 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 Coconut Creek, Florida restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the true value of the Coconut Creek, 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 starting to sell your Coconut Creek, Florida restaurant.

The estimated time it may take to sell a Coconut Creek, Florida restaurant is six months. Within the six months, there is a lot you can do to increase your profit and reduce several costs, and thus strengthen the worth of your Coconut Creek, 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 could help you in deriving the overall value of your Coconut Creek, Florida restaurant. If you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Coconut Creek, Florida restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general aesthetic of your Coconut Creek, Florida restaurant does not appeal to buyers, they might take a pass right off the bat.

To avoid this from happening, everything in and out of your Coconut Creek, Florida restaurant must be cleaned and maintained. Landscaped and a clean parking lot can help create appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are also easy items that would help create a memorable initial impression.

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

Non-functional equipment also raises doubt about your financial capabilities and output capabilities. It may even lower the excitment of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning buying your Coconut Creek, Florida restaurant.

#7 look for Coconut Creek Buyers

Looking for potential buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced Coconut Creek, Florida restaurant broker to help. A professional Coconut Creek, Florida restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project yourself, you will need to create proper advertising. You can show your Coconut Creek, Florida restaurant on business websites and tell family and friends about your plans to sell your Coconut Creek, Florida restaurant.

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

#8 Be Ready

If you decide to sell your Coconut Creek, Florida restaurant yourself, or through a Coconut Creek, Florida restaurant broker, you should always be ready. Be prepared to show your Coconut Creek, Florida restaurant to potential buyers at all times.

You'll never know when a buyer could walk into your Coconut Creek, Florida restaurant. Some buyers may even come in as customers just to perform some research before contacting you.

#9 Sell Your Coconut Creek, Florida Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the contract. The documentation will usually begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Coconut Creek, Florida Restaurant Broker

While trying to sell your Coconut Creek, Florida restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business deal, you need a higher level of expertise to stand out against your cometitors while trying to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Coconut Creek, Florida restaurant broker is needed. A Coconut Creek, Florida restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Coconut Creek, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Coconut Creek, Florida Restaurant Broker

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

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

Coconut Creek Zip Codes We Support: 33063, 33066, 33073