Right Time to Sell Your Dania Beach, Florida Restaurant?

Following years of labor, you have made the decision sell your Dania Beach, Florida restaurant

Considering opening a different eatery, moving, or maybe slowing down. No matter the reason, selling your Dania Beach, Florida restaurant can be way more complicated than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the time you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to assist you in selling your Dania Beach, Florida restaurant or take on the task yourself. Whether considering selling your Dania Beach, Florida restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Gather all Business Documentation

This is a necessary first step to make when you start the process of offering your Dania Beach, Florida restaurant.

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

• 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 comes with expertise to assist you in the market for sale of your Dania Beach, Florida restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to show all these documents to a prospective buyer right away. But, you should have them at hand because you will certainly require them during the sales process.

Also, compiling these documents lets you see your Dania Beach, Florida restaurant through the lens of a buyer. It provides you a clear picture of the Dania Beach, Florida restaurant you're offering for sale. In addition, it allows you to show if there are any loopholes you will have to address.

#2 Get Your Financial Documents in Order

Your financial documents are a crucial detail of selling your Dania Beach, Florida restaurant. This is the reason you should make an effort to have these documents complete and well organized.

Offering your financial records to potential buyers could help clear any hesitations they might have regarding your Dania Beach, Florida restaurant.

These financial records can include:

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

In addition, make sure you have hard copies of all of these documents. This could make it easier for you to send the information to prospective buyers.

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

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Dania Beach, Florida restaurant, you must find out the terms 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 concerning your plan to sell your Dania Beach, Florida restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this helps them evaluate the value of your Dania Beach, Florida restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow starting to sell your Dania Beach, Florida restaurant.

The estimated time it may take to sell a Dania Beach, Florida restaurant is six months. Within the six months, there is a lot you can do to strengthen your profit and slash various costs, and therefore increase the worth of your Dania Beach, 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 value your assets.

This will aid you in estimating the probable worth of your Dania Beach, Florida restaurant. If you understand the overall worth this could help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Dania Beach, Florida restaurant will go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Dania Beach, Florida restaurant does not look good to buyers, they might take a pass right off the bat.

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

Clean windows, polished door handles and a clean floor are also simple things that could help create a unforgettable initial impression.

Furthermore, you should ensure all the equipment is in satisfactory condition. If your equipment is not functioning, it may send 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 situation and output capabilities. It may even dampen the morale of your employees, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning buying your Dania Beach, Florida restaurant.

#7 Search for Dania Beach Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Dania Beach, Florida restaurant broker to help. The professional Dania Beach, Florida restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this project by yourself, you will need to carry out proper advertising. You can show your Dania Beach, Florida restaurant on listing websites and let your family and friends know about your plans to market for sale your Dania Beach, Florida restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Dania Beach, Florida restaurant. Some buyers may even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Dania Beach, Florida Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the contract.

This document includes details including the selling price of your Dania Beach, Florida restaurant, assets and equipment and inventory value.

Choosing a Dania Beach, Florida Restaurant Broker

Although trying to sell your Dania Beach, 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 from of the business deal, you need a higher level of expertise to stand out against your competition while attempting to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Dania Beach, Florida restaurant broker is recommended. A Dania Beach, Florida restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Dania Beach, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Dania Beach, Florida Restaurant Broker

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

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

Dania Beach Zip Codes We Support: 33004, 33312, 33314, 33316