Time to Sell Your Debary, Florida Restaurant?

Following years of sweat equity, you have made the decision sell your Debary, Florida restaurant

Contemplating starting a different Debary, Florida restaurant, relocating, or maybe slowing down. Regardless of the reason, selling your Debary, Florida restaurant can be way more complicated than you may realize. 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 may either decide to contract with a eatery broker to guide you in selling your Debary, Florida restaurant or take on the task on your own. If you are considering selling your Debary, Florida restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together all Important Documentation

This is a necessary first step to take when you commence the process of offering your Debary, Florida restaurant.

The necessary 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 at hand:

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

Corbett Restaurant Group has the expertise to help you in the market for sale of your Debary, Florida restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to reveal all these documents to a possible buyer day one. But, you may want to have them ready because you will eventually require them during the sales process.

In addition, putting together these documents lets you view your Debary, Florida restaurant through the lens of a buyer. It provides you a clear picture of the Debary, Florida restaurant you are offering for sale. Furthermore, it allows you to show if there are any concerns you'll have to address.

#2 Get Your Financial Records in Order

Your financial records are a crucial part of selling your Debary, Florida restaurant. That’s the reason you should strive to make these documents complete and organized.

Showing your financial records to possible buyers could help clear any hesitations they may have regarding your Debary, Florida restaurant.

Your financial documents 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 will make it easier for you to send the documentation to prospective buyers.

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

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Debary, 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 closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Debary, Florida restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this will help them estimate the value of your Debary, Florida restaurant.

This will be in your best interest to ensure that you increase sales and make a reduction in your expenses to build your cash flow planning to sell your Debary, Florida restaurant.

The estimated time it may take to sell a Debary, Florida restaurant is six months. Within the six months, there are several things you can do to increase your profit and cut several costs, and thus increase the worth of your Debary, 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 estimate your assets.

This could assist you in estimating the overall value of your Debary, Florida restaurant. When you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Debary, Florida restaurant could go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Debary, Florida restaurant does not look good to buyers, they could pass over without a second look.

To avoid this from happening, all things in and out of your Debary, Florida restaurant must be clean. Manicured and a clean parking area may help create curb appeal for prospective buyers.

Clean windows, polished door handles and a presentable floor are also small things that would help create a unforgettable initial impression.

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

Non-functional equipment could raise doubt about your financial status and output abilities. It could even lower the mood of your staff, 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 regarding purchasing your Debary, Florida restaurant.

#7 Search for Debary Buyers

Looking for prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Debary, Florida restaurant broker to help. The professional Debary, Florida restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you decide to take on this project yourself, you will need to carry out proper advertising. You can offer your Debary, Florida restaurant on listing websites and let your family and friends know about your plans to sell your Debary, Florida restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Debary, Florida Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the deal. The paperwork often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Debary, Florida Restaurant Broker

While trying to sell your Debary, Florida restaurant on your own can be an exciting project, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most from of the business deal, you need some level of experience in order to stand above and against the cometitors while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Debary, Florida restaurant broker is needed. A Debary, Florida restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Debary, Florida restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Debary, Florida Restaurant Broker

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

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

Debary Zip Codes We Support: 32713, 32753