Ready to Sell Your Cooper City, Florida Restaurant?

After years of labor, you have decided to sell your Cooper City, Florida restaurant

Considering opening a new eatery, moving, or even slowing down. Regardless of the reason, selling a Cooper City, Florida restaurant can be a lot more complicated than you might realize. Thats because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the sweat you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either think to contract with a eatery broker to help you in selling your Cooper City, Florida restaurant or take on the task yourself. Whether considering selling your Cooper City, 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 make when you commence the process of offering your Cooper City, Florida restaurant.

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

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

You probably do not want to show all these documents to a possible buyer first day. But, you should have them on hand because you will eventually require them during the sales process.

In addition, putting together these documents lets you see your Cooper City, Florida restaurant through the lens of a buyer. It provides you a clear image of the Cooper City, Florida restaurant you're offering for sale. Furthermore, it allows you to identify whether there are any areas you'll have to address.

#2 Put Your Financials in Order

Your financial records are an important part of selling your Cooper City, Florida restaurant. That’s the reason you should make it a priority to have your documents complete and well organized.

Showing your financial records to potential buyers could help clear any doubt they might have concerning your Cooper City, Florida restaurant.

The financial documents may include:

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

In addition, make sure you have duplicate copies of all of the documents. This may make it easier for you to send the records to potential buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Cooper City, Florida restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Cooper City, Florida restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the value of your Cooper City, Florida restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow planning to sell your Cooper City, Florida restaurant.

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

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

This may help you in coming up with the probable worth of your Cooper City, Florida restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Cooper City, Florida restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Cooper City, Florida restaurant does not look good to buyers, they likely pass over right off the bat.

To prevent this from happening, everything in and out of your Cooper City, Florida restaurant must be cleaned and maintained. Manicured and a clean parking area can help create appeal for potential buyers.

Clean windows, polished handles and a presentable floor are other easy things that can help create a great initial impression.

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

Non-functional equipment can raise doubt about your financial capabilities and production capabilities. It could even lower the excitment of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Cooper City, Florida restaurant.

#7 Search for Cooper City Buyers

Looking for potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Cooper City, Florida restaurant broker to help. The professional Cooper City, Florida restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this project alone, you will need to carry out appropriate advertising. You can show your Cooper City, Florida restaurant on listing websites and let your family and friends know about your plans to sell your Cooper City, Florida restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Cooper City, Florida restaurant. Some buyers might even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Cooper City, Florida Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the contract. The paperwork will likely begin with the Asset Purchase Agreement.

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

This agreement includes details such as the selling price of your Cooper City, Florida restaurant, items and equipment and inventory value.

Choosing a Cooper City, Florida Restaurant Broker

While attempting to sell your Cooper City, Florida restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first-timers.

It's true, if you're looking to achieve the most from of the business transaction, you need a higher level of expertise to stand above and against your competition while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Cooper City, Florida restaurant broker comes in. A Cooper City, Florida restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Cooper City, Florida restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Cooper City, Florida Restaurant Broker

Choosing to sell your Cooper City, Florida restaurant through a Cooper City, Florida restaurant broker has several advantages. First, however, you need to select the best Cooper City, Florida restaurant broker to help you in selling your Cooper City, Florida restaurant.

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

Cooper City Zip Codes We Support: 33024, 33026, 33328, 33330