Right Time to Sell Your Cutler Bay, Florida Restaurant?

Following years of sweat equity, you have decided to sell your Cutler Bay, Florida restaurant

Contemplating opening a new Cutler Bay, Florida restaurant, relocating, or maybe retiring. Regardless of the reason, selling a Cutler Bay, Florida restaurant can be way more difficult than you might think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the sweat you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either think to contract with a Cutler Bay, Florida restaurant broker to assist you in selling your Cutler Bay, Florida restaurant or do the task on your own. Whether considering selling your Cutler Bay, Florida restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather any Important Paperwork

This is a necessary first step to take when you begin the process of selling your Cutler Bay, Florida restaurant.

The necessary paperwork may vary from state to state--even in Florida, but the following is a list of a few general documents you may be requierd to have ready:

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

Corbett Restaurant Group comes with expertise to assist you in the sale of your Cutler Bay, Florida restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to reveal all these documents to a possible buyer right away. But, you may want to have them at hand because you will certainly need them during the sales process.

Also, putting together these documents allows you to view your Cutler Bay, Florida restaurant through the lens of a buyer. This provides you a clear image of the Cutler Bay, Florida restaurant you are selling. In addition, it helps you identify if there are any loopholes you'll need to take care of.

#2 Get Your Financials in Order

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

Showing your financial records to potential buyers could assist to clear any hesitations they may have regarding your Cutler Bay, Florida restaurant.

The financial records may include:

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

In addition, ensure you have hard copies of all of these documents. This may make it easier for you to transmit the information to prospective buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later on discovers these ommissions post signing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Cutler Bay, Florida restaurant, you need to understand of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Cutler Bay, Florida restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth evaluation of your financial records, whether favorable or not, this will help them evaluate the value of the Cutler Bay, Florida restaurant.

This will be in your best interest to ensure that you augment sales and reduce expenses to build your cash flow starting to sell your Cutler Bay, Florida restaurant.

The average time it may take to sell a Cutler Bay, Florida restaurant is six months. Within the six months, there are many things you can do to increase your profit and cut various costs, and thus strengthen the worth of your Cutler Bay, Florida restaurant.

Also, when it comes 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 help you in estimating the overall value of your Cutler Bay, Florida restaurant. If you understand the overall value this could help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Cutler Bay, Florida restaurant can go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Cutler Bay, Florida restaurant does not appeal to buyers, they might pass over right off the bat.

To prevent this from happening, all things in and out of your Cutler Bay, Florida restaurant must be clean. Landscaped and a clean parking area can help create appeal for prospective buyers.

Spot-free windows, polished handles and a neat floor are other easy items that would help create a memorable first impression.

Furthermore, you should ensure all the equipment is in top condition. If your equipment is not functioning, it might convey the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial situation and production abilities. It can even lower the morale 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 regarding buying your Cutler Bay, Florida restaurant.

#7 look for Cutler Bay Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Cutler Bay, Florida restaurant broker to help. The professional Cutler Bay, Florida restaurant broker will have recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this task alone, you will need to create appropriate advertising. You can offer your Cutler Bay, Florida restaurant on listing websites and let your family and friends know about your intentions to sell your Cutler Bay, Florida restaurant.

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

#8 Be Ready

Whether you decide to sell your Cutler Bay, Florida restaurant yourself, or with a a Cutler Bay, Florida restaurant broker, you should always be ready. Be prepared to show your Cutler Bay, Florida restaurant to prospective buyers at all times.

You will never know when a buyer could visit your Cutler Bay, Florida restaurant. Some buyers may even come in as customers in order to perform some research before contacting you.

#9 Sell Your Cutler Bay, Florida Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the deal. The paperwork often begin with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details including the selling price of your Cutler Bay, Florida restaurant, items and equipment and inventory value.

Choosing a Cutler Bay, Florida Restaurant Broker

Although trying to sell your Cutler Bay, Florida restaurant on your own can be an exhilarating project, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most from of the business deal, you need a higher level of experience in order to stand above and against your cometitors while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Cutler Bay, Florida restaurant broker is recommended. A Cutler Bay, Florida restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Cutler Bay, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Cutler Bay, Florida Restaurant Broker

Deciding to sell your Cutler Bay, Florida restaurant through a Cutler Bay, Florida restaurant broker has multiple advantages. First, however, you need to select the best Cutler Bay, Florida restaurant broker to assist you in selling your Cutler Bay, Florida restaurant.

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

Cutler Bay Zip Codes We Support: 33157, 33189, 33190